| GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS We have three operating segments which are also our reporting units: Electronic Test, Environmental Technologies and Process Technologies. Goodwill and intangible assets on our Consolidated Balance Sheets are the result of our acquisitions. Goodwill Changes in the amount of the carrying value of goodwill are as follows: | | | | | | | | | | (in thousands) | | | Balance - January 1, 2026 | | $ | 32,359 | | | Impact of foreign currency translation adjustments | | (394) | | Balance – June 30, 2026 | | $ | 31,965 | |
Goodwill was comprised of the following: | | | | | | | | | | | | | | | | (in thousands) | | June 30,
2026 | | December 31,
2025 | | Electronic Test | | $ | 13,568 | | | $ | 13,957 | | | Environmental Technologies | | 1,817 | | | 1,817 | | | Process Technologies | | 16,580 | | | 16,585 | | | Total goodwill | | $ | 31,965 | | | $ | 32,359 | |
Intangible Assets Changes in the amount of the carrying value of our intangible assets were as follows: | | | | | | | | | | | | | | | | (in thousands) | | Finite-Lived | | Indefinite-Lived | Balance - January 1, 2026 | | $ | 14,372 | | | $ | 10,504 | | | Impact of foreign currency translation adjustments | | (320) | | | (96) | | | Amortization | | (1,477) | | | — | | Balance – June 30, 2026 | | $ | 12,575 | | | $ | 10,408 | |
The following tables provide further detail about our intangible assets: | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | (in thousands) | | Gross
Carrying
Amount | | Accumulated
Amortization | | Net
Carrying
Amount | | Finite-lived intangible assets: | | | | | | | | Customer relationships | | $ | 24,863 | | | $ | 14,827 | | | $ | 10,036 | | | Technology | | 6,147 | | | 3,608 | | | 2,539 | | | Patents | | 590 | | | 590 | | | — | | | Software | | 270 | | | 270 | | | — | | | Trade name | | 140 | | | 140 | | | — | | | Total finite-lived intangible assets | | 32,010 | | | 19,435 | | | 12,575 | | | Indefinite-lived intangible assets: | | | | | | | | Trademarks | | 10,408 | | | — | | | 10,408 | | | Total intangible assets | | $ | 42,418 | | | $ | 19,435 | | | $ | 22,983 | |
| | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | (in thousands) | | Gross
Carrying
Amount | | Accumulated
Amortization | | Net
Carrying
Amount | | Finite-lived intangible assets: | | | | | | | | Customer relationships | | $ | 25,192 | | | $ | 13,857 | | | $ | 11,335 | | | Technology | | 6,279 | | | 3,242 | | | 3,037 | | | Patents | | 590 | | | 590 | | | — | | | Software | | 270 | | | 270 | | | — | | | Trade name | | 140 | | | 140 | | | — | | | Total finite-lived intangible assets | | 32,471 | | | 18,099 | | | 14,372 | | | Indefinite-lived intangible assets: | | | | | | | | Trademarks | | 10,504 | | | — | | | 10,504 | | | Total intangible assets | | $ | 42,975 | | | $ | 18,099 | | | $ | 24,876 | |
The following table sets forth the estimated annual amortization expense for each of the next five years and thereafter: | | | | | | | | | | (in thousands) | | | | Remaining 2026 | | $ | 1,084 | | | 2027 | | 1,999 | | | 2028 | | 1,651 | | | 2029 | | 1,326 | | | 2030 | | 1,218 | | | Thereafter | | 5,297 | | | Total estimated amortization of finite-lived intangible assets | | $ | 12,575 | |
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