Goodwill and other indefinite-lived intangible assets, including trade names, are reviewed for impairment annually, or more frequently if indicators of impairment exist. Management concluded no triggering events with respect to goodwill and other indefinite-lived intangible assets occurred during the first six months of 2025 or during the first six months of 2024. Management's conclusions were based on updated financial performance projections, as well as an updated analysis of macroeconomic and industry-specific conditions.

The goodwill acquired in the Mergers has been allocated to the following reporting units: Six Flags Fiesta Texas, Six Flags Great Adventure (including Six Flags Hurricane Harbor New Jersey and Wild Safari Adventure), Six Flags Great America (including Six Flags Hurricane Harbor Chicago), Six Flags Magic Mountain (including Six Flags Hurricane Harbor Los Angeles), Six Flags Mexico (including Six Flags Hurricane Harbor Oaxtepec), Six Flags New England, Six Flags Over Georgia (including Six Flags White Water), and Six Flags Over Texas (including Six Flags Hurricane Harbor Arlington). These reporting units' fair value exceeded their carrying values by less than 10% upon allocation. The Six Flags trade name was also acquired in the Mergers and was valued at $850.0 million. The Six Flags trade name is an indefinite-lived intangible asset. While year-to-date results for Former Six Flags have not met expectations, management did not consider these results to be a triggering event for the Former Six Flags reporting units or the Six Flags trade name due to the seasonality of the business and the impact of weather on year-to-date results. If future operating results continue to fall short of expectations, the goodwill assigned to these reporting units and the Six Flags trade name may become impaired. See Note 2 for additional information regarding the Mergers.

The Schlitterbahn trade name and Schlitterbahn reporting unit were tested for impairment during the third quarter of 2024 due to a decline in estimated future cash flows as a result of changes in planned capital allocations across the Combined Company portfolio following the Mergers. Management concluded the estimated fair value of the Schlitterbahn reporting unit no longer

exceeded its carrying value resulting in impairment recorded during the third quarter of 2024. While year-to-date results for the Schlitterbahn parks have not met expectations, management did not consider these results to be a triggering event for the Schlitterbahn reporting unit and Schlitterbahn trade name due to the seasonality of the business. If future operating results continue to fall short of expectations, the goodwill assigned to the Schlitterbahn parks and the Schlitterbahn trade name may become further impaired.

The fair value of reporting units is established using a combination of an income (discounted cash flow) approach and market approach. The income approach uses each reporting unit's projection of estimated operating results and discounted cash flows using a weighted-average cost of capital that reflects current market conditions. Estimated operating results are established using best estimates of economic and market conditions over the projected period including growth rates in revenues and costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements. The market approach estimates fair value by applying cash flow multiples to each reporting unit's operating performance. The multiples are derived from comparable publicly traded companies with similar operating and investment characteristics of the reporting units. Any impairment charges recognized are for the amount by which the reporting unit's carrying amount exceeds its fair value. The fair value of trade names is calculated using a relief-from-royalty method. Any impairment charges recognized are for the amount by which the trade name's carrying amount exceeds its fair value. Management makes significant estimates calculating the fair value of reporting units and trade names. Actual results could materially differ from these estimates.


(In thousands)	Gross Goodwill		Accumulated Impairment Losses		Net Goodwill
Balance as of December 31, 2024	$	3,512,782	$	(216,259)	$	3,296,523
Mergers (Note 2)	64,711		—		64,711

Foreign currency translation	37,856		—		37,856
Balance as of June 29, 2025	$	3,615,349	$	(216,259)	$	3,399,090

Balance as of December 31, 2023	$	438,422	$	(173,797)	$	264,625

Foreign currency translation	(2,033)		—		(2,033)
Balance as of June 30, 2024	$	436,389	$	(173,797)	$	262,592


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
June 29, 2025
Other intangible assets:
Trade names (1)	$	898,487	$	(370)	$	898,117
License / franchise agreements	1,150		(874)		276
Total other intangible assets	$	899,637	$	(1,244)	$	898,393

December 31, 2024
Other intangible assets:
Trade names (1)	$	897,864	$	(317)	$	897,547
License / franchise agreements	1,147		(860)		287
Total other intangible assets	$	899,011	$	(1,177)	$	897,834

June 30, 2024
Other intangible assets:
Trade names (1)	$	48,482	$	(243)	$	48,239
License / franchise agreements	1,320		(978)		342
Total other intangible assets	$	49,802	$	(1,221)	$	48,581