v3.25.4
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
8. GOODWILL AND INTANGIBLE ASSETS
Goodwill activity for each of the Company’s reportable segments, Materials Solutions (“MS”) and Advanced Purity Solutions (“APS”), for the years ended December 31, 2025 and 2024 is shown below:
(In millions)MSAPSTotal
December 31, 2023$3,631.4 $314.5 $3,945.9 
Foreign currency translation(0.1)(2.2)(2.3)
December 31, 2024$3,631.3 $312.3 $3,943.6 
Foreign currency translation— 3.1 3.1 
December 31, 2025$3,631.3 $315.4 $3,946.7 
Identifiable intangible assets at December 31, 2025 and 2024 consist of the following:
2025
(In millions)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,264.5 $747.3 $517.2 7.2
Trademarks and trade names172.1 59.7 112.4 14.0
Customer relationships630.8 354.5 276.3 14.0
Other25.5 24.5 1.0 5.1
$2,092.9 $1,186.0 $906.9 9.8
2024
(In millions)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,256.7 $601.7 $655.0 7.2
Trademarks and trade names172.0 48.8 123.2 14.0
Customer relationships630.5 326.5 304.0 14.0
In-process research and development (1)
6.6 — 6.6 
Other25.5 22.6 2.9 5.1
$2,091.3 $999.6 $1,091.7 9.7
(1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets. All in-process research and development assets that were open as of December 31, 2024 were completed and reclassified to developed technology and began amortizing in 2025.
The table below sets forth the amortization expense for finite-lived intangible assets for the years ended December 31, 2025, 2024, and 2023:
(In millions)202520242023
Amortization expense$184.4 $190.1 $214.5 
The amortization expense for each of the five succeeding years and thereafter relating to finite-lived intangible assets currently recorded in the Company’s consolidated balance sheets is estimated to be the following at December 31, 2025:
(In millions)20262027202820292030ThereafterTotal
Future amortization expense$183.6 179.9 177.4 111.7 39.4 214.9 $906.9