Note 12—Goodwill and Other Intangible Assets

​

The changes in the carrying amount of goodwill by segment were as follows:

​

​

The increase in goodwill during the first nine months of 2026 was driven by goodwill recognized from the 2026 Acquisitions, primarily the CommScope acquisition.

​

The Company performs its evaluation for the impairment of goodwill associated with the Company’s reporting units on an annual basis as of each July 1, or more frequently if an event occurs or circumstances change that would indicate that a reporting unit’s carrying amount may be impaired. The Company reviews its reporting unit structure each year, or more frequently based on changes in our organization. The Company continues to define our reporting units as the three reportable business segments. In the third quarter of 2026, as part of our annual evaluations, the Company utilized the option to first assess qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment assessment. As part of this assessment, the Company reviews qualitative factors, which include, but are not limited to, economic, market and industry conditions, as well as the financial performance of each reporting unit. In accordance with applicable guidance, an entity is not required to calculate the fair value of a reporting unit if, after assessing these qualitative factors, the Company determines that it is more likely than not that the fair value of each of its reporting units is greater than its respective carrying amount. As of July 1, 2026, the Company determined that it was more likely than not that the fair value of each of its reporting units exceeded its respective carrying amount and, therefore, a quantitative assessment was not required. As a result, no goodwill impairment resulted from the assessment as of July 1, 2026.

​

Other than goodwill noted above, the Company’s intangible assets as of September 30, 2026 and December 31, 2025 were as follows:

​

​

(1) Certain prior period amounts have been reclassified to conform to the current period presentation.

​

The increase in the gross carrying amount of intangible assets in the first nine months of 2026 was driven by certain customer relationships, proprietary technology, trade names and acquired backlog recognized as a result of the 2026 Acquisitions, primarily the CommScope acquisition. Amortization expense for the three months ended September 30, 2026 and 2025 was approximately $99.5 and $46.0, respectively. Amortization expense for the nine months ended September 30, 2026 and 2025 was approximately $366.8 and $133.1, respectively. Amortization for the nine months ended September 30, 2026 includes $70.4 related to the non-cash amortization of acquired backlog resulting from the CommScope and Trexon acquisitions. Amortization expense for the three and nine months ended September 30, 2025 includes $4.0 and $14.0, respectively, related to the non-cash amortization of acquired backlog resulting from the 2025 Acquisitions. Amortization expense relating to the Company’s current intangible assets as of September 30, 2026 estimated for the remainder of 2026 is approximately $117.7, and for each of the next five fiscal years is approximately $415.2 in 2027, $391.5 in 2028, $380.7 in 2029, $378.0 in 2030 and $371.4 in 2031.

​

The Company assesses and reviews its identifiable intangible assets subject to amortization for potential impairment whenever events or changes in circumstances indicate the intangible asset’s carrying amount may not be recoverable. Any indefinite-lived intangible assets that are not subject to amortization, which are comprised of certain trade names, are reviewed at least annually for impairment. In the third quarter of 2026, the Company performed its annual assessment of these identifiable indefinite-lived intangible assets. Based on its assessment, the Company determined that it was more likely than not that the fair value of the indefinite-lived intangible assets exceeded their respective carrying amounts. There has been no impairment associated with the Company’s intangible assets in 2026 or 2025 as a result of such reviews.