| Goodwill and Intangible Assets |
Note 9. Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill by reportable segment were as follows:
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Electronic Components |
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Mechanical Components |
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Total |
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Balance as of December 31, 2025 |
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$ |
|
1,307,611 |
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$ |
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1,437,740 |
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$ |
|
2,745,351 |
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Additions |
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— |
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17,775 |
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17,775 |
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Foreign currency translation |
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(548) |
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(5,698) |
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(6,246) |
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Balance as of March 31, 2026 |
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$ |
1,307,063 |
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|
$ |
1,449,817 |
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$ |
2,756,880 |
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Intangible Assets Intangible assets consisted of the following:
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March 31, 2026 |
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Weighted- Average Remaining Useful Lives (in years) |
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Gross Amount |
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Accumulated Amortization |
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Net Book Value |
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Amortized intangible assets: |
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Customer lists / relationships |
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20 |
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$ |
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2,120,784 |
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$ |
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(297,837 |
) |
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$ |
|
1,822,947 |
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Patents and technology |
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16 |
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401,275 |
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(48,899 |
) |
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352,376 |
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Trademarks / trade names |
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14 |
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252,902 |
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(49,938 |
) |
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|
202,964 |
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Total amortized intangible assets |
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2,774,961 |
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(396,674 |
) |
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2,378,287 |
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Indefinite-lived intangible assets: |
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Trademarks / trade names |
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36,800 |
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— |
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36,800 |
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Total intangible assets |
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$ |
|
2,811,761 |
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$ |
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(396,674 |
) |
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$ |
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2,415,087 |
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December 31, 2025 |
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Gross Amount |
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Accumulated Amortization |
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Net Book Value |
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Amortized intangible assets: |
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Customer lists / relationships |
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$ |
2,107,860 |
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$ |
(273,349 |
) |
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$ |
1,834,511 |
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Patents and technology |
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395,546 |
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(42,416 |
) |
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|
353,130 |
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Trademarks / trade names |
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250,873 |
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(45,435 |
) |
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|
205,438 |
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Total amortized intangible assets |
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2,754,279 |
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(361,200 |
) |
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2,393,079 |
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Indefinite-lived intangible assets: |
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Trademarks / trade names |
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36,800 |
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— |
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|
36,800 |
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Total intangible assets |
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$ |
2,791,079 |
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|
$ |
(361,200 |
) |
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$ |
2,429,879 |
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Amortization expense for amortized intangible assets was $36,023 and $34,080 for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, estimated amortization expense for amortized intangible assets for the next five years and thereafter was as follows:
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Years Ending December 31: |
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Amount |
Remaining portion of 2026 |
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$ |
107,994 |
2027 |
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|
143,665 |
2028 |
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|
143,565 |
2029 |
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|
143,454 |
2030 |
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|
142,123 |
Thereafter |
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1,697,486 |
Total expected future amortization expense |
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$ |
2,378,287 |
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