| Change in Carrying Value of Goodwill |
The following table represents the change in the carrying value of goodwill for the six months ended June 30, 2026 (amounts in thousands):
|
|
|
|
|
Balance at December 31, 2025 |
|
$ |
1,114,408 |
|
Divestiture of Polymem |
|
|
(713 |
) |
Cumulative translation adjustment |
|
|
(9,512 |
) |
Balance at June 30, 2026 |
|
$ |
1,104,183 |
|
|
| Schedule of Intangible Assets |
Intangible assets, net, consisted of the following at June 30, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value |
|
|
Weighted
Average
Useful Life
(in years) |
|
|
|
(Amounts in thousands) |
|
|
|
|
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Technology – developed |
|
$ |
290,355 |
|
|
$ |
(88,635 |
) |
|
$ |
201,720 |
|
|
|
15 |
|
Customer relationships |
|
|
276,230 |
|
|
|
(128,335 |
) |
|
|
147,895 |
|
|
|
15 |
|
Trademarks |
|
|
10,185 |
|
|
|
(2,957 |
) |
|
|
7,228 |
|
|
|
18 |
|
Other intangibles |
|
|
3,473 |
|
|
|
(3,394 |
) |
|
|
79 |
|
|
|
3 |
|
Total finite-lived intangible assets |
|
|
580,243 |
|
|
|
(223,321 |
) |
|
|
356,922 |
|
|
|
15 |
|
Indefinite-lived intangible asset: |
|
|
|
|
|
|
|
|
|
|
|
|
Trademarks |
|
|
700 |
|
|
|
— |
|
|
|
700 |
|
|
|
|
Total intangible assets |
|
$ |
580,943 |
|
|
$ |
(223,321 |
) |
|
$ |
357,622 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value |
|
|
Weighted
Average
Useful Life
(in years) |
|
|
|
(Amounts in thousands) |
|
|
|
|
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Technology – developed |
|
$ |
301,931 |
|
|
$ |
(82,032 |
) |
|
$ |
219,899 |
|
|
|
15 |
|
Customer relationships |
|
|
277,696 |
|
|
|
(120,205 |
) |
|
|
157,491 |
|
|
|
15 |
|
Trademarks |
|
|
10,564 |
|
|
|
(2,950 |
) |
|
|
7,614 |
|
|
|
18 |
|
Other intangibles |
|
|
4,027 |
|
|
|
(3,584 |
) |
|
|
443 |
|
|
|
3 |
|
Total finite-lived intangible assets |
|
|
594,218 |
|
|
|
(208,771 |
) |
|
|
385,447 |
|
|
|
15 |
|
Indefinite-lived intangible asset: |
|
|
|
|
|
|
|
|
|
|
|
|
Trademarks |
|
|
700 |
|
|
|
— |
|
|
|
700 |
|
|
|
— |
|
Total intangible assets |
|
$ |
594,918 |
|
|
$ |
(208,771 |
) |
|
$ |
386,147 |
|
|
|
|
|
| Schedule of Amortization Expense for Amortized Intangible Assets |
As of June 30, 2026, the Company expects to record the following amortization expense in future periods:
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
Amounts in thousands |
|
2026 (remaining six months) |
|
$ |
19,199 |
|
2027 |
|
|
38,362 |
|
2028 |
|
|
38,328 |
|
2029 |
|
|
38,218 |
|
2030 |
|
|
37,104 |
|
2031 and thereafter |
|
|
185,711 |
|
Total |
|
$ |
356,922 |
|
|