Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill and Other Identifiable Intangible Assets

The changes in the carrying amount of goodwill during the years ended December 31, 2024 and 2023 by reportable segment, as well as other identifiable intangible assets, are summarized as follows:

	Goodwill
(in thousands)	Automotive		Industrial		Total		Other Intangible Assets, Net
Balance as of January 1, 2023	$	1,579,534	$	1,008,579	$	2,588,113	$	1,812,510
Additions	111,831		8,046		119,877		98,652
Amortization	—		—		—		(147,178)
Foreign currency translation	26,068		623		26,691		28,929
Balance as of December 31, 2023	1,717,433		1,017,248		2,734,681		1,792,913
Additions	251,364		32,775		284,139		218,286
Amortization	—		—		—		(142,994)
Foreign currency translation	(104,927)		(16,624)		(121,550)		(69,174)
Balance as of December 31, 2024	$	1,863,870	$	1,033,399	$	2,897,270	$	1,799,031

Schedule of Gross Carrying Amounts and Accumulated Amortization Relating to Other Intangible Assets

The gross carrying amounts and accumulated amortization relating to other intangible assets at December 31, 2024 and 2023 are as follows:

	2024						2023
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	2,350,241	$	(778,707)	$	1,571,534	$	2,252,553	$	(695,934)	$	1,556,619
Other intangibles	369,744		(142,246)		227,497		354,641		(118,347)		236,294
	$	2,719,985	$	(920,953)	$	1,799,031	$	2,607,194	$	(814,281)	$	1,792,913

Schedule of Estimated Other Intangible Assets Amortization Expense

Estimated other intangible assets amortization expense for the succeeding five years is as follows (in thousands):

2025	$	140,000
2026	140,000
2027	140,000
2028	130,000
2029	130,000
	$	680,000