Goodwill is presented net of accumulated impairment losses of $141.3 million and $94.1 million as of September 30, 2026 and December 31, 2025, respectively, attributable to the DWS reporting unit. For the nine months ended September 30, 2026, the company recognized an impairment loss of $47.2 million on goodwill associated with the DWS reporting unit. The impairment charge was recorded within goodwill and intangible asset impairment in the consolidated statements of income (loss).

The company reviews goodwill for impairment annually, as well as whenever there are events or changes in circumstances (triggering events), which indicate that the carrying amount may not be recoverable. The company continuously monitors its revenue, gross profit and operating profit growth and evaluates other relevant events and circumstances including changes to U.S. treasury rates and equity risk premiums, tax rates, recent market valuations from transactions by comparable companies, volatility in the company’s market capitalization, and general industry, market and macro-economic conditions, that could unfavorably impact the recoverability of the goodwill carrying value.

During the second quarter of 2026, the company reviewed its estimated long-term expected future cash flows for the DWS reporting unit. DWS projected gross profit was below the previous estimated forecast primarily due to continued competitive pressure resulting from industry and macro-economic conditions. Based on this, the company concluded that a triggering event existed and conducted a quantitative goodwill impairment assessment for the DWS reporting unit in the second quarter of 2026. Based on the results of the quantitative assessment, the carrying value of the DWS reporting unit exceeded its fair value, resulting in the recognition of a goodwill impairment charge of $47.2 million in the second quarter of 2026. The impairment charge represented the entire remaining goodwill balance allocated to the DWS reporting unit, resulting in a full write-off of the reporting unit's goodwill.


	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Losses		Net Carrying Amount
Technology	$	10.0	$	10.0	$	—	$	—
Customer relationships (i)	54.2		25.9		1.5		26.8
Marketing	1.3		1.3		—		—
Total	$	65.5	$	37.2	$	1.5	$	26.8

For the three months ended September 30, 2026 and 2025, amortization expense was $0.9 million and $1.1 million, respectively. For the nine months ended September 30, 2026 and 2025, amortization expense was $2.9 million and $3.2 million, respectively.

Finite-lived intangible assets are tested for impairment whenever events or changes in circumstances would indicate that the carrying value may not be recoverable. An impairment charge would be recognized if the carrying value exceeds fair value in the consolidated statement of income (loss) in the period the impairment is identified.

During second quarter of 2026, the company recorded an impairment charge of $1.5 million related to a customer relationship intangible asset. The impairment was triggered by revised expectations regarding future cash flows. Fair value was determined using a discounted cash flow methodology and is classified as a Level 3 fair value measurement. The impairment charge was recorded within goodwill and intangible asset impairment in the consolidated statements of income (loss). No triggering events were identified during the third quarter of 2026, and no additional intangible asset impairment charges were recorded during the period.