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GOODWILL AND INTANGIBLE ASSETS, NET
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The changes in the carrying amount of goodwill by segment were as follows:
 (dollars in millions)ElectronicsIndustrial & SpecialtyTotal
Balance at December 31, 2024$1,258.1 $873.9 (1)$2,132.0 
Divestiture (2)
— (1.3)(1.3)
Foreign currency translation and other53.6 57.3 110.9 
Balance at June 30, 2025$1,311.7 $929.9 $2,241.6 
(1) Includes accumulated impairment losses of $46.6 million.
(2) In the second quarter of 2025, the Company completed an immaterial divestiture. See Note 2, Divestitures, to the unaudited Condensed Consolidated Financial Statements for further information.
Intangible Assets, Net
The major components of intangible assets, net were as follows:
 June 30, 2025December 31, 2024
 (dollars in millions)Gross Carrying
Amount		Accumulated
Amortization		Net Book
Value		Gross Carrying
Amount		Accumulated
Amortization		Net Book
Value
Customer relationships$877.4 $(502.4)$375.0 $830.5 $(447.8)$382.7 
Developed technology307.5 (259.5)48.0 291.4 (233.3)58.1 
Trade names163.2 (41.0)122.2 92.9 (37.0)55.9 
Reacquired distribution rights187.0 (26.0)161.0 187.0 (19.7)167.3 
Indefinite-lived trade name— — — 68.0 — 68.0 
Total$1,535.1 $(828.9)$706.2 $1,469.8 $(737.8)$732.0 
For the three months ended June 30, 2025 and 2024, the Company recorded amortization expense on intangible assets of $28.5 million and $29.8 million, respectively. For the six months ended June 30, 2025 and 2024, the Company recorded amortization expense on intangible assets of $55.7 million and $60.0 million, respectively.
In the first quarter of 2025, the Company determined that the useful life of one of its trade names no longer met the criteria of an indefinite-lived asset and concluded no indication of impairment. Subsequently, the Company started amortizing this trade name over 20 years, consistent with other similar finite-lived assets.
In the first quarter of 2024, one of the product qualification milestones agreed to as part of the Kuprion Acquisition was achieved. As a result, the Company made a payment of $3.9 million, which was recognized as "Research and development" expense in the Condensed Consolidated Statements of Operations as the technology did not yet meet the accounting definition of an asset. The payment was included in "Acquisitions, net of cash acquired" in the Condensed Consolidated Statements of Cash Flows as a cash outflow from investing activities.