Goodwill and Intangible Assets

9 Months Ended

Sep. 27, 2025

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note C – Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.

Goodwill of companies acquired, allocated to the company’s reportable segments, is as follows:

	Global
(thousands)	Components		Global ECS		Total
Balance as of December 31, 2024 (a)	$	902,445	$	1,152,850	$	2,055,295
Foreign currency translation adjustment		16,501		45,221		61,722
Balance as of September 27, 2025 (a)	$	918,946	$	1,198,071	$	2,117,017

(a) The total carrying value of goodwill as of September 27, 2025 and December 31, 2024, in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components segment and $301.9 million was recorded in the global ECS segment.

Intangible assets, net, are comprised of the following as of September 27, 2025:

	Gross
	Carrying		Accumulated
(thousands)	Amount		Amortization		Net
Customer relationships	$	192,700	$	(122,373)	$	70,327
Amortizable trade name		74,001		(62,542)		11,459
	$	266,701	$	(184,915)	$	81,786

Intangible assets, net, are comprised of the following as of December 31, 2024:

	Gross
	Carrying		Accumulated
(thousands)	Amount		Amortization		Net
Customer relationships	$	215,366	$	(133,927)	$	81,439
Amortizable trade name		74,001		(58,734)		15,267
	$	289,367	$	(192,661)	$	96,706

During the third quarter of 2025 and 2024, the company recorded amortization expense related to identifiable intangible assets of $4.8 million and $7.3 million, respectively. During the first nine months of 2025 and 2024, amortization expense related to identifiable intangible assets was $15.0 million and $22.3 million, respectively.