| Goodwill and Intangible Assets |
Note 9. Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill by reportable segment was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electronic
Components |
|
|
Mechanical
Components |
|
|
Total |
|
Balance as of December 31, 2025 |
|
$ |
1,307,611 |
|
|
$ |
1,437,740 |
|
|
$ |
2,745,351 |
|
Additions |
|
|
43,231 |
|
|
|
18,223 |
|
|
|
61,454 |
|
Foreign currency translation |
|
|
(895 |
) |
|
|
(6,802 |
) |
|
|
(7,697 |
) |
Balance as of June 30, 2026 |
|
$ |
1,349,947 |
|
|
$ |
1,449,161 |
|
|
$ |
2,799,108 |
|
Intangible Assets Intangible assets consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Weighted-
Average
Remaining
Useful Lives
(in years) |
|
|
Gross Amount |
|
|
Accumulated
Amortization |
|
|
Net Book Value |
|
Amortized intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Customer lists / relationships |
|
|
20 |
|
|
$ |
2,173,784 |
|
|
$ |
(323,433 |
) |
|
$ |
1,850,351 |
|
Patents and technology |
|
|
15 |
|
|
|
413,181 |
|
|
|
(54,806 |
) |
|
|
358,375 |
|
Trademarks / trade names |
|
|
13 |
|
|
|
257,236 |
|
|
|
(54,561 |
) |
|
|
202,675 |
|
Total amortized intangible assets |
|
|
|
|
|
2,844,201 |
|
|
|
(432,800 |
) |
|
|
2,411,401 |
|
Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Trademarks / trade names |
|
|
|
|
|
36,800 |
|
|
|
— |
|
|
|
36,800 |
|
Total intangible assets |
|
|
|
|
$ |
2,881,001 |
|
|
$ |
(432,800 |
) |
|
$ |
2,448,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Gross Amount |
|
|
Accumulated
Amortization |
|
|
Net Book Value |
|
Amortized intangible assets: |
|
|
|
|
|
|
|
|
|
Customer lists / relationships |
|
$ |
2,107,860 |
|
|
$ |
(273,349 |
) |
|
$ |
1,834,511 |
|
Patents and technology |
|
|
395,546 |
|
|
|
(42,416 |
) |
|
|
353,130 |
|
Trademarks / trade names |
|
|
250,873 |
|
|
|
(45,435 |
) |
|
|
205,438 |
|
Total amortized intangible assets |
|
|
2,754,279 |
|
|
|
(361,200 |
) |
|
|
2,393,079 |
|
Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
Trademarks / trade names |
|
|
36,800 |
|
|
|
— |
|
|
|
36,800 |
|
Total intangible assets |
|
$ |
2,791,079 |
|
|
$ |
(361,200 |
) |
|
$ |
2,429,879 |
|
As of June 30, 2026, estimated amortization expense for amortized intangible assets for the next five years and thereafter was as follows:
|
|
|
|
|
Years Ending December 31: |
|
Amount |
|
Remaining portion of 2026 |
|
$ |
74,301 |
|
2027 |
|
|
148,102 |
|
2028 |
|
|
148,002 |
|
2029 |
|
|
147,891 |
|
2030 |
|
|
146,558 |
|
Thereafter |
|
|
1,746,547 |
|
Total expected future amortization expense |
|
$ |
2,411,401 |
|
|
Note 9. Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill by reportable segment were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electronic
Components |
|
|
Mechanical
Components |
|
|
Total |
|
Beginning balance as of January 1, 2024 |
|
$ |
444,758 |
|
|
$ |
387,284 |
|
|
$ |
832,042 |
|
Additions |
|
|
863,094 |
|
|
|
945,890 |
|
|
|
1,808,984 |
|
Foreign currency translation |
|
|
(1,905 |
) |
|
|
(9,938 |
) |
|
|
(11,843 |
) |
Ending balance as of December 31, 2024 |
|
$ |
1,305,947 |
|
|
$ |
1,323,236 |
|
|
$ |
2,629,183 |
|
Additions |
|
|
— |
|
|
|
86,519 |
|
|
|
86,519 |
|
Foreign currency translation |
|
|
1,664 |
|
|
|
27,985 |
|
|
|
29,649 |
|
Ending balance as of December 31, 2025 |
|
$ |
1,307,611 |
|
|
$ |
1,437,740 |
|
|
$ |
2,745,351 |
|
Intangible Assets Intangible assets consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Weighted-
Average
Remaining
Useful Lives
(in years) |
|
|
Gross
Amount |
|
|
Accumulated
Amortization |
|
|
Net Book
Value |
|
Amortized intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Customer lists / relationships |
|
|
20 |
|
|
$ |
2,107,860 |
|
|
$ |
(273,349 |
) |
|
$ |
1,834,511 |
|
Patents and technology |
|
|
16 |
|
|
|
395,546 |
|
|
|
(42,416 |
) |
|
|
353,130 |
|
Trademarks / trade names |
|
|
14 |
|
|
|
250,873 |
|
|
|
(45,435 |
) |
|
|
205,438 |
|
Total amortized intangible assets |
|
|
|
|
|
2,754,279 |
|
|
|
(361,200 |
) |
|
|
2,393,079 |
|
Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Trademarks / trade names |
|
|
|
|
|
36,800 |
|
|
|
— |
|
|
|
36,800 |
|
Total intangible assets |
|
|
|
|
$ |
2,791,079 |
|
|
$ |
(361,200 |
) |
|
$ |
2,429,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
|
|
Gross Amount |
|
|
Accumulated
Amortization |
|
|
Net Book
Value |
|
Amortized intangible assets: |
|
|
|
|
|
|
|
|
|
Customer lists / relationships |
|
$ |
2,036,285 |
|
|
$ |
(176,093 |
) |
|
$ |
1,860,192 |
|
Patents and technology |
|
|
355,241 |
|
|
|
(19,559 |
) |
|
|
335,682 |
|
Trademarks / trade names |
|
|
245,018 |
|
|
|
(28,271 |
) |
|
|
216,747 |
|
Total amortized intangible assets |
|
|
2,636,544 |
|
|
|
(223,923 |
) |
|
|
2,412,621 |
|
Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
Developed technology |
|
|
25,000 |
|
|
|
— |
|
|
|
25,000 |
|
Trademarks / trade names |
|
|
36,800 |
|
|
|
— |
|
|
|
36,800 |
|
Total intangible assets |
|
$ |
2,698,344 |
|
|
$ |
(223,923 |
) |
|
$ |
2,474,421 |
|
Amortization expense for amortized intangible assets was $138,937, $72,405, and $51,469 for the years ended December 31, 2025, 2024, and 2023, respectively. On October 1, 2025, the Company reclassified the indefinite-lived Developed technology asset to Patents and technology as a result of technological advancements and increased product competition that may shorten the expected long-term benefit of the underlying asset. The Company did not record an impairment associated with this determination. The asset is being amortized over twelve years. As of December 31, 2025, estimated amortization expense for amortized intangible assets for the next five years and thereafter was as follows:
|
|
|
|
|
Years Ending December 31: |
|
Amount |
|
2026 |
|
$ |
142,040 |
|
2027 |
|
|
142,002 |
|
2028 |
|
|
141,902 |
|
2029 |
|
|
141,789 |
|
2030 |
|
|
140,446 |
|
Thereafter |
|
|
1,684,900 |
|
Total expected future amortization expense |
|
$ |
2,393,079 |
|
|