v3.26.1
Goodwill and Related Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
GOODWILL AND RELATED INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill
The changes in the carrying amount of goodwill for the six months ended June 30, 2026 are as follows (in thousands):
ResidentialAgtechInfrastructureTotal
Balance at December 31, 2025$261,747 $121,607 $31,678 $415,032 
Acquired goodwill526,714 — — 526,714 
Adjustments to prior year acquisitions(1,609)— — (1,609)
Foreign currency translation(566)(519)— (1,085)
Balance at June 30, 2026$786,286 $121,088 $31,678 $939,052 
Goodwill is recognized net of accumulated impairment losses of $133.2 million as of June 30, 2026 and December 31, 2025.
The Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company determined that no triggering event had occurred as of June 30, 2026 which would require an interim impairment test to be performed.
Intangible Assets
Intangible assets consisted of the following (in thousands):
June 30, 2026December 31, 2025
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Indefinite-lived intangible assets:
Trademarks$19,570 $— $19,570 $— 
Finite-lived intangible assets:
Trademarks123,300 5,307 13,300 2,253 
Unpatented technology26,591 23,433 26,698 22,851 
Customer relationships671,003 50,906 139,835 30,743 
820,894 79,646 179,833 55,847 
Total intangible assets$840,464 $79,646 $199,403 $55,847 
The following table summarizes the intangible asset amortization expense (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Amortization expense$13,422 $5,697 $23,755 $9,118 
Amortization expense related to intangible assets for the remainder of fiscal 2026 and the next five years thereafter is estimated as follows (in thousands):
202620272028202920302031
Amortization expense$27,145 $53,994 $53,754 $53,692 $52,652 $52,164