Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

2. Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. As of the first day of the fourth quarters of 2025, 2024, and 2023, the company’s annual impairment testing did not result in any additional impairment of goodwill of companies acquired.

Goodwill of companies acquired, allocated to the company’s reportable segments, is as follows:


		Global
(thousands)		Components			Global ECS			Total
Balance as of December 31, 2023 (a)		$	875,194		$	1,175,232		$	2,050,426
Acquisitions			35,870			—			35,870
Foreign currency translation adjustment			(8,619)			(22,382)			(31,001)
Balance as of December 31, 2024 (a)		$	902,445		$	1,152,850		$	2,055,295
Foreign currency translation adjustment			16,617			48,159			64,776
Balance as of December 31, 2025 (a)		$	919,062		$	1,201,009		$	2,120,071

(a)	The total carrying value of goodwill as of December 31, 2025, 2024, and 2023 in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components segment and $301.9 million was recorded in the global ECS segment.

Intangible assets, net, are comprised of the following as of December 31, 2025:


		Gross
		Carrying			Accumulated
(thousands)		Amount			Amortization			Net
Customer relationships		$	192,743		$	(125,910)		$	66,833
Amortizable trade name			74,001			(63,812)			10,189
		$	266,744		$	(189,722)		$	77,022

Intangible assets, net, are comprised of the following as of December 31, 2024:


		Gross
		Carrying			Accumulated
(thousands)		Amount			Amortization			Net
Customer relationships		$	215,366		$	(133,927)		$	81,439
Amortizable trade name			74,001			(58,734)			15,267
		$	289,367		$	(192,661)		$	96,706

Amortization expense related to identifiable intangible assets was $19.8 million, $29.5 million, and $31.2 million for the years ended December 31, 2025, 2024, and 2023, respectively. Amortization expense for each of the years 2026 through 2030 is estimated to be approximately $19.0 million, $18.8 million, $11.2 million, $7.3 million, and $7.3 million, respectively.