Goodwill represents the excess of purchase price paid over the fair value of the net assets of acquired businesses. Goodwill is not amortized, but we perform an annual goodwill impairment test on December 31, and more frequently if events and circumstances indicate that the asset might be impaired. The change in carrying value of goodwill allocated to our reportable segments during the three months ended June 30, 2026 was as follows:


	Pressure Control		Spoolable Technologies		Total
Balance at December 31, 2025	$	7,824	$	195,204	$	203,028
Cactus International	84,222		—		84,222

Balance at June 30, 2026	$	92,046	$	195,204	$	287,250


	June 30, 2026						December 31, 2025
	Gross Cost		Accumulated Amortization		Net Cost		Gross Cost		Accumulated Amortization		Net Cost
Customer relationships	$	269,970	$	(30,005)	$	239,965	$	100,300	$	(18,946)	$	81,354
Developed technology	117,360		(27,668)		89,692		77,000		(21,817)		55,183
Trade name	16,000		(5,331)		10,669		16,000		(4,533)		11,467
Backlog	25,770		(16,384)		9,386		7,000		(7,000)		—
Total	$	429,100	$	(79,388)	$	349,712	$	200,300	$	(52,296)	$	148,004

All intangible assets are amortized over their estimated useful lives. The weighted average amortization period for identifiable intangible assets acquired as of June 30, 2026 is 9.4 years. Amortization expense recognized during three and six months ended June 30, 2026 was $14.6 million and $27.1 million, respectively, and was recorded in selling, general and administrative expenses in the consolidated statements of income. Estimated future amortization expense is as follows:


Remainder of 2026	$	27,109
2027	54,217
2028	54,217
2029	54,217
2030	54,217
2031	54,217
Thereafter	51,518
Total	$	349,712