Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 4 – Goodwill and Other Intangible Assets

Goodwill allocated to the Company’s reportable operating segments follows:

(in thousands)	Americas		Asia		Total
Goodwill as of June 30, 2025 and December 31, 2024	$	154,014	$	38,102	$	192,116

A summary of the Company’s acquired identifiable intangible assets and capitalized purchased software costs follows:

(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	100,176	$	(79,207	)	$	20,969
Capitalized purchased software costs		45,729		(33,913	)		11,816
Technology licenses		15,500		(15,500	)		—
Trade names and trademarks		7,800		—			7,800
Other		868		(440	)		428
Total intangible assets as of June 30, 2025	$	170,073	$	(129,060	)	$	41,013

(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	100,041	$	(76,675	)	$	23,366
Capitalized purchased software costs		44,316		(31,525	)		12,791
Technology licenses		15,500		(15,500	)		—
Trade names and trademarks		7,800		—			7,800
Other		868		(428	)		440
Total intangible assets as of December 31, 2024	$	168,525	$	(124,128	)	$	44,397

A summary of the components of amortization expense, as presented in the consolidated statements of cash flows, follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
Amortization of intangible assets	$	1,204	$	1,204	$	2,408	$	2,408
Amortization of capitalized purchased software costs		1,097		1,247		2,369		2,454
Amortization of debt costs		354		130		484		259
Total amortization expense	$	2,655	$	2,581	$	5,261	$	5,121

A summary of the future amortization expense related to the Company’s intangible assets held as of June 30, 2025 for each of the next five years follows (in thousands):

Year ending December 31,	Amortization Expense
Remaining six months of 2025	$	2,408
2026		4,817
2027		4,817
2028		4,817
2029		4,218
2030		23