The following table summarizes the changes in the carrying amount of goodwill during fiscal 2025 and fiscal 2024 by reportable operating segment:


						Total
	Consumer			Building		Reportable
	Products			Products		Segments		Other			Total
Balance at May 31, 2023	$	257,320		$	65,213	$	322,533	$	13,645		$	336,178
Acquisitions		8,327			-		8,327		-			8,327
Impairment losses		-			-		-		(14,210	)		(14,210	)
Translation adjustments		-			735		735		565			1,300
Balance at May 31, 2024		265,647			65,948		331,595		-			331,595
Acquisitions and purchase accounting adjustments(1)		(237	)		41,639		41,402		-			41,402
Translation adjustments		-			3,483		3,483		-			3,483
Balance at May 31, 2025	$	265,410		$	111,070	$	376,480	$	-		$	376,480

(1)

For additional information regarding our acquisitions, refer to “Note P – Acquisitions.”

Accumulated goodwill impairment charges within Other totaled $212,500 as of May 31, 2025 and May 31, 2024, respectively.

Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives, which range from 10 to 20 years. The following table summarizes other intangible assets by class as of the end of the prior two fiscal years:


	2025				2024
			Accumulated				Accumulated
	Cost		Amortization		Cost		Amortization
Indefinite-lived intangible assets:
Trademarks	$	83,981	$	-	$	111,681	$	-
Total indefinite-lived intangible assets		83,981		-		111,681		-
Definite-lived intangible assets:
Trademarks	$	8,004	$	923	$	-	$	-
Customer relationships		149,188		76,027		169,680		73,257
Non-compete agreements		2,708		2,708		2,708		2,615
Technology know-how		35,404		9,229		20,244		7,370
Total definite-lived intangible assets		195,304		88,887		192,632		83,242
Total intangible assets	$	279,285	$	88,887	$	304,313	$	83,242

Amortization expense totaled $13,659, $11,787, and $11,877 in fiscal 2025, fiscal 2024 and fiscal 2023, respectively.

The following section provides additional information on material impairment activity for the periods presented.

Fiscal 2025: During the fourth quarter of fiscal 2025, we determined that an impairment indicator was present for the long-lived assets of the GTI business within the Consumer Products operating segment, primarily due to uncertainties resulting from the imposition of tariffs on imported goods. We determined that intangible assets with a combined carrying amount of $59,711 were impaired and wrote them down to their estimated fair value of $9,661 resulting in a pre-tax impairment charge of $50,050. Fair value was based on expected future cash flows using Level 3 inputs under ASC 820. The cash flows are those expected to be generated by market participants, discounted at an appropriate rate for the risks inherent in those cash flow projections, or 14%. Our projections contain uncertainties as they require us to make assumptions about market comparables, future cash flows, and the appropriate discount rates to reflect the risk inherent in the future cash flows and to derive a reasonable enterprise value. The estimated future cash flows reflect our latest assumptions of the financial projections based on the current and anticipated tariff landscape, including estimates of revenue over the foreseeable future and long-term growth rates, and operating margins based on historical trends and future cost containment activities. Goodwill was tested separately at the Consumer Products and Building Products reporting unit level and was not impaired.

Fiscal 2024: On May 29, 2024, we became a noncontrolling equity partner in a new unconsolidated joint venture with Hexagon by selling 51% of the nominal share capital of our former consolidated Sustainable Energy Solutions operating segment in Europe. The book value of the disposal group exceeded its estimated fair market value (determined using Level 2 inputs), which resulted in the recording of a $32,203 impairment charge. Included in the impairment charge was goodwill with a book value of $14,210, which was deemed fully impaired and written off and long-lived assets with a carrying value of $46,215 which were written down to their estimated fair market value of $28,222.