GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

GOODWILL AND OTHER INTANGIBLE ASSETS

5. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The following table summarizes the changes in goodwill for the three months ended March 31, 2026:


		Product			Distribution			Total
Balance, December 31, 2025		$	178,790		$	2,616		$	181,406
TYR acquisition			50,441			—			50,441
Zircaloy measurement period adjustments			344			—			344
Foreign currency translation adjustments			(966)			—			(966)
Balance, March 31, 2026		$	228,609		$	2,616		$	231,225

Gross goodwill and accumulated impairment losses were $238,810 and $7,585, respectively, as of March 31, 2026 and $188,991 and $7,585, respectively, as of December 31, 2025.

Intangible Assets

Intangible assets such as certain customer relationships and patents on core technologies and product technologies are amortizable over their estimated useful lives. Certain trade names and trademarks which provide exclusive and perpetual rights to manufacture and sell their respective products are deemed indefinite-lived and are therefore not subject to amortization.

Intangible assets consisted of the following as of March 31, 2026 and December 31, 2025:


		March 31, 2026
											Weighted
						Accumulated					Average
		Gross				Amortization			Net		Useful Life
Definite-lived intangibles:
Customer relationships		$	138,160		$	(74,470)		$	63,690		18
Technology			91,716			(21,836)			69,880		16
Tradenames			30,784			(8,417)			22,367		13
Non-compete agreements			1,025			(1,025)			—		-
		$	261,685		$	(105,748)		$	155,937
Indefinite-lived intangibles:
Tradenames			17,384			—			17,384		Indefinite
Total		$	279,069		$	(105,748)		$	173,321


		December 31, 2025
											Weighted
						Accumulated					Average
		Gross				Amortization			Net		Useful Life
Definite-lived intangibles:
Customer relationships		$	112,693		$	(73,577)		$	39,116		17
Technology			69,056			(20,587)			48,469		13
Tradenames			18,045			(8,078)			9,967		12
Non-compete agreements			1,037			(1,037)			—		-
		$	200,831		$	(103,279)		$	97,552
Indefinite-lived intangibles:
Tradenames			17,432			—			17,432		Indefinite
Total		$	218,263		$	(103,279)		$	114,984

Amortization expense for the three months ended March 31, 2026 and 2025 was $2,898 and $2,095, respectively, of which $1,383 and $1,074 was included in cost of goods sold in the condensed consolidated statements of operations and comprehensive income for the respective periods.

The estimated amortization expense for definite-lived intangible assets for the remaining nine months of 2026, the next four years and thereafter is as follows:


Remainder of 2026	$	9,411
2027		12,103
2028		12,103
2029		12,003
2030		11,300
Thereafter		99,017
Total	$	155,937