Goodwill |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Disclosure Text Block Supplement [Abstract] | |
| Goodwill Disclosure [Text Block] | Note 9 — Goodwill
The Company applies a fair value-based impairment test to the carrying value of goodwill and indefinite-lived intangible assets on an annual basis and, on an interim basis, if certain events or circumstances indicate that an impairment loss may have been incurred. Goodwill impairment exists when the estimated fair value of goodwill is less than its carrying value. For the three months ended June 30, 2025, there were no events or circumstances that indicated that an impairment loss may have been incurred.
Based on the Company’s April 1 annual assessment, it determined that the fair values of its reporting units were not less than the carrying amounts.
During the three-months ended June 30, 2025, the Company identified certain macroeconomic developments that represented potential indicators of impairment of goodwill in the form of rising import costs for the U.S. market. As a result, the Company performed an interim quantitative impairment test for its reporting units as of May 31, 2025, consistent with the guidance in ASC 350. The results of this analysis indicated that the fair value of each reporting unit continued to exceed its carrying amount. The Company will continue to monitor relevant events and conditions on an ongoing basis.
No goodwill impairment was determined to have occurred for the six months ended June 30, 2025 and June 30, 2024. |