| Goodwill and Other Intangibles |
Note 6 – Goodwill and Other Intangibles Goodwill Changes in the carrying amount of goodwill, by reportable segment, for the nine months ended September 30, 2026 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automotive |
|
|
Medical |
|
|
Total |
|
Balance as of December 31, 2025 |
|
$ |
81,031 |
|
|
$ |
27,887 |
|
|
$ |
108,918 |
|
Acquisition of IME |
|
|
— |
|
|
|
15,610 |
|
|
|
15,610 |
|
Currency translation |
|
|
(2,550 |
) |
|
|
280 |
|
|
|
(2,270 |
) |
Balance as of September 30, 2026 |
|
$ |
78,481 |
|
|
$ |
43,777 |
|
|
$ |
122,258 |
|
The accumulated impairment losses of goodwill for Automotive and Medical were $0 and $19,509, respectively, as of September 30, 2026. Other Intangible Assets Other intangible assets and accumulated amortization balances as of September 30, 2026 and December 31, 2025 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Carrying Value |
|
|
Accumulated
Amortization |
|
|
Accumulated
Impairment |
|
|
Net Carrying
Value |
|
Definite-lived: |
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
130,196 |
|
|
$ |
(82,594 |
) |
|
$ |
(6,185 |
) |
|
$ |
41,417 |
|
Technology |
|
|
50,501 |
|
|
|
(36,793 |
) |
|
|
(27 |
) |
|
|
13,681 |
|
Product development costs |
|
|
19,095 |
|
|
|
(18,932 |
) |
|
|
(71 |
) |
|
|
92 |
|
Trade names |
|
|
1,600 |
|
|
|
(21 |
) |
|
|
— |
|
|
|
1,579 |
|
Software development |
|
|
1,007 |
|
|
|
(554 |
) |
|
|
— |
|
|
|
453 |
|
Indefinite-lived: |
|
|
|
|
|
|
|
|
|
|
|
|
Trade names |
|
|
7,166 |
|
|
|
— |
|
|
|
(530 |
) |
|
|
6,636 |
|
Balance as of September 30, 2026 |
|
$ |
209,565 |
|
|
$ |
(138,894 |
) |
|
$ |
(6,813 |
) |
|
$ |
63,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Carrying Value |
|
|
Accumulated
Amortization |
|
|
Accumulated
Impairment |
|
|
Net Carrying
Value |
|
Definite-lived: |
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
121,316 |
|
|
$ |
(81,785 |
) |
|
$ |
(6,185 |
) |
|
$ |
33,346 |
|
Technology |
|
|
48,478 |
|
|
|
(36,238 |
) |
|
|
(27 |
) |
|
|
12,213 |
|
Product development costs |
|
|
19,943 |
|
|
|
(19,774 |
) |
|
|
(71 |
) |
|
|
98 |
|
Software development |
|
|
1,007 |
|
|
|
(403 |
) |
|
|
— |
|
|
|
604 |
|
Indefinite-lived: |
|
|
|
|
|
|
|
|
|
|
|
|
Trade names |
|
|
7,065 |
|
|
|
— |
|
|
|
(530 |
) |
|
|
6,535 |
|
Balance as of December 31, 2025 |
|
$ |
197,809 |
|
|
$ |
(138,200 |
) |
|
$ |
(6,813 |
) |
|
$ |
52,796 |
|
In connection with the acquisition of IME, the Company recorded Customer relationships of $11,000, Technology of $3,300 and Trade names of $1,600. These definite-lived assets are being amortized using the straight-line method over their estimated useful lives of approximately 15 years, 8 years and 19 years, respectively.
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