Goodwill and Other Intangible Assets (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Intangible Asset, Goodwill and Other [Abstract] |
|
| Goodwill Rollforward |
Goodwill allocated to the Company’s reportable operating segments follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Americas |
|
|
Asia |
|
|
Total |
|
Goodwill as of June 30, 2026 and December 31, 2025 |
|
$ |
154,014 |
|
|
$ |
38,102 |
|
|
$ |
192,116 |
|
|
| Schedule of Acquired Identifiable Intangible Assets and Capitalized Purchased Software Costs |
A summary of the Company’s acquired identifiable intangible assets and capitalized purchased software costs follows:
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|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Customer relationships |
|
$ |
100,152 |
|
|
$ |
(83,967 |
) |
|
$ |
16,185 |
|
Capitalized purchased software costs |
|
|
43,917 |
|
|
|
(32,454 |
) |
|
|
11,463 |
|
Technology licenses |
|
|
15,500 |
|
|
|
(15,500 |
) |
|
|
— |
|
Trade names and trademarks |
|
|
7,800 |
|
|
|
— |
|
|
|
7,800 |
|
Other |
|
|
868 |
|
|
|
(464 |
) |
|
|
404 |
|
Total intangible assets as of June 30, 2026 |
|
$ |
168,237 |
|
|
$ |
(132,385 |
) |
|
$ |
35,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Customer relationships |
|
$ |
100,176 |
|
|
$ |
(81,603 |
) |
|
$ |
18,573 |
|
Capitalized purchased software costs |
|
|
42,105 |
|
|
|
(30,121 |
) |
|
|
11,984 |
|
Technology licenses |
|
|
15,500 |
|
|
|
(15,500 |
) |
|
|
— |
|
Trade names and trademarks |
|
|
7,800 |
|
|
|
— |
|
|
|
7,800 |
|
Other |
|
|
868 |
|
|
|
(452 |
) |
|
|
416 |
|
Total intangible assets as of December 31, 2025 |
|
$ |
166,449 |
|
|
$ |
(127,676 |
) |
|
$ |
38,773 |
|
|
| Schedule of Amortization Expense |
A summary of the components of amortization expense, as presented in the consolidated statements of cash flows, follows:
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|
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|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Amortization of intangible assets |
|
$ |
1,204 |
|
|
$ |
1,204 |
|
|
$ |
2,408 |
|
|
$ |
2,408 |
|
Amortization of capitalized purchased software costs |
|
|
1,186 |
|
|
|
1,097 |
|
|
|
2,359 |
|
|
|
2,369 |
|
Amortization of debt costs |
|
|
142 |
|
|
|
354 |
|
|
|
283 |
|
|
|
484 |
|
Total amortization expense |
|
$ |
2,532 |
|
|
$ |
2,655 |
|
|
$ |
5,050 |
|
|
$ |
5,261 |
|
|
| Schedule of Future Amortization Expense |
A summary of the future amortization expense related to the Company’s intangible assets held as of June 30, 2026 for each of the next five years follows (in thousands):
|
|
|
|
|
Year ending December 31, |
|
Amortization
Expense |
|
Remaining 6 months of 2026 |
|
$ |
2,408 |
|
2027 |
|
|
4,817 |
|
2028 |
|
|
4,817 |
|
2029 |
|
|
4,218 |
|
2030 |
|
|
33 |
|
|