Goodwill and Other Intangible Assets (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Goodwill |
The changes in the net carrying amount of goodwill for the six months ended June 30, 2025 are as follows:
| | | | | | | Balance as of December 31, 2024 | $ | 805,358 | | | | | | | | | Foreign currency translation | 1,568 | | | | | Balance as of June 30, 2025 | $ | 806,926 | |
|
| Schedule of Finite-Lived Intangible Assets |
Other intangible assets consist of the following:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Weighted Average Amortization Period (Years) | Gross
Carrying
Amount | | Accumulated
Amortization | | Gross
Carrying
Amount | | Accumulated
Amortization | | Intangible assets with definite lives: | 22 | | | | | | | | | | | | | | | | | | Customer and distributor relationships | 24 | $ | 370,061 | | | $ | (213,456) | | | $ | 369,774 | | | $ | (205,013) | | | | | | | | | | | | Sales representation, marketing and promotional rights | 25 | 149,376 | | | (81,000) | | | 149,376 | | | (78,000) | | | | | | | | | | | | Developed technology | 18 | 320,204 | | | (60,097) | | | 320,204 | | | (54,812) | | | | | | | | | | | | Patents and other intangible assets | 16 | 86,934 | | | (56,749) | | | 85,392 | | | (55,802) | | | | | | | | | | | | Intangible assets with indefinite lives: | | | | | | | | | | | | | | | | | | | Trademarks and tradenames | | 86,544 | | | — | | | 86,544 | | | — | | | | | | | | | | | | | $ | 1,013,119 | | | $ | (411,302) | | | $ | 1,011,290 | | | $ | (393,627) | |
|
| Schedule of Indefinite-Lived Intangible Assets |
Other intangible assets consist of the following:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Weighted Average Amortization Period (Years) | Gross
Carrying
Amount | | Accumulated
Amortization | | Gross
Carrying
Amount | | Accumulated
Amortization | | Intangible assets with definite lives: | 22 | | | | | | | | | | | | | | | | | | Customer and distributor relationships | 24 | $ | 370,061 | | | $ | (213,456) | | | $ | 369,774 | | | $ | (205,013) | | | | | | | | | | | | Sales representation, marketing and promotional rights | 25 | 149,376 | | | (81,000) | | | 149,376 | | | (78,000) | | | | | | | | | | | | Developed technology | 18 | 320,204 | | | (60,097) | | | 320,204 | | | (54,812) | | | | | | | | | | | | Patents and other intangible assets | 16 | 86,934 | | | (56,749) | | | 85,392 | | | (55,802) | | | | | | | | | | | | Intangible assets with indefinite lives: | | | | | | | | | | | | | | | | | | | Trademarks and tradenames | | 86,544 | | | — | | | 86,544 | | | — | | | | | | | | | | | | | $ | 1,013,119 | | | $ | (411,302) | | | $ | 1,011,290 | | | $ | (393,627) | |
|
| Schedule of Estimated Amortization Expense |
The estimated intangible asset amortization expense remaining for the year ending December 31, 2025 and for each of the five succeeding years is as follows: | | | | | | | | | | | | | | | | | | | Amortization included in expense | | Amortization recorded as a reduction of revenue | | Total | Remaining, 2025 | $ | 15,020 | | | $ | 3,000 | | | $ | 18,020 | | | 2026 | 29,315 | | | 6,000 | | | 35,315 | | | 2027 | 30,780 | | | 6,000 | | | 36,780 | | | 2028 | 33,899 | | | 6,000 | | | 39,899 | | | 2029 | 33,112 | | | 6,000 | | | 39,112 | | | 2030 | 34,629 | | | 6,000 | | | 40,629 | |
|