| Goodwill and Intangible Assets |
(7)Goodwill and Intangible Assets Goodwill Effective January 1, 2025, the Company reassigned goodwill to certain reporting units within PSD resulting from a reorganization of the business. The goodwill was reassigned to the new reporting units using the relative fair value approach. The Company also concluded that the fair value of each reporting unit immediately before and after the reorganization exceeded its respective carrying value. Goodwill associated with each of the Company’s reportable segments was as follows:
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VSD |
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PSD |
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MSD |
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Total |
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Reportable segment: |
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Gross goodwill at December 31, 2024 |
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$ |
358 |
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$ |
1,003 |
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$ |
2,951 |
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$ |
4,312 |
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Foreign currency translation adjustments |
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1 |
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8 |
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82 |
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91 |
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Gross goodwill at June 30, 2025 |
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359 |
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1,011 |
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3,033 |
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4,403 |
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Accumulated goodwill impairment at December 31, 2024 |
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(141 |
) |
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(390 |
) |
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(1,302 |
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(1,833 |
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Impairment charge |
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— |
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— |
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— |
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— |
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Accumulated goodwill impairment at June 30, 2025 |
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(141 |
) |
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(390 |
) |
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(1,302 |
) |
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(1,833 |
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Goodwill, net of accumulated impairment and foreign currency translation adjustments at June 30, 2025 |
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$ |
218 |
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$ |
621 |
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$ |
1,731 |
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$ |
2,570 |
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Intangible Assets The Company’s intangible assets were comprised of the following:
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As of June 30, 2025 |
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Gross |
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Accumulated Impairment Charges |
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Accumulated Amortization |
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Foreign Currency Translation |
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Net |
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Completed technology |
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$ |
1,268 |
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$ |
(152 |
) |
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$ |
(541 |
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$ |
(2 |
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$ |
573 |
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Customer relationships |
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2,072 |
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(1 |
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(548 |
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(4 |
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1,519 |
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Patents, trademarks, trade names and other |
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381 |
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(63 |
) |
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(136 |
) |
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(7 |
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175 |
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$ |
3,721 |
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$ |
(216 |
) |
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$ |
(1,225 |
) |
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$ |
(13 |
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$ |
2,267 |
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As of December 31, 2024 |
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Gross |
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Accumulated Impairment Charges |
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Accumulated Amortization |
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Foreign Currency Translation |
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Net |
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Completed technology |
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$ |
1,268 |
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$ |
(152 |
) |
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$ |
(496 |
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$ |
(31 |
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$ |
589 |
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Customer relationships |
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2,072 |
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(1 |
) |
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(477 |
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(86 |
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1,508 |
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Patents, trademarks, trade names and other |
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381 |
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(63 |
) |
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(130 |
) |
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(13 |
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175 |
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$ |
3,721 |
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$ |
(216 |
) |
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$ |
(1,103 |
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$ |
(130 |
) |
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$ |
2,272 |
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Aggregate amortization expense related to acquired intangible assets for the six months ended June 30, 2025 and 2024 was $122 and $123, respectively. Aggregate amortization expense related to acquired intangible assets for future years is as follows:
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Year |
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Amount |
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2025 (remaining) |
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$ |
126 |
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2026 |
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248 |
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2027 |
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247 |
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2028 |
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246 |
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2029 |
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244 |
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2030 |
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238 |
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Thereafter |
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862 |
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The Company excluded from the above table intangible assets of $56 of indefinite-lived trademarks and trade names, which were not subject to amortization.
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