5. Goodwill and intangible assets

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired.

Goodwill amounts are not amortized but tested for impairment on an annual basis or more often when circumstances indicate that goodwill may not be recoverable. There was no impairment of goodwill for the three and six months ended June 30, 2026 and 2025.

Finite-lived intangible assets are amortized on a straight-line basis over the useful life. Intangible assets amortization was $1.5 million and $2.5 million, respectively, for the three months ended June 30, 2026 and 2025, and was $3.0 million and $4.9 million, respectively, for the six months ended June 30, 2026 and 2025. There was no impairment of intangible assets for the three and six months ended June 30, 2026 and 2025.