Goodwill and Other Intangible Assets

9 Months Ended

Sep. 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 September 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	$	100,175	$	(80,405	)	$	19,770
Capitalized purchased software costs		47,539		(34,757	)		12,782
Technology licenses		15,500		(15,500	)		—
Trade names and trademarks		7,800		—			7,800
Other		869		(445	)		424
Total intangible assets as of September 30, 2025	$	171,883	$	(131,107	)	$	40,776

(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 September 30,				Nine Months Ended September 30,
(in thousands)	2025		2024		2025		2024
Amortization of intangible assets	$	1,205	$	1,205	$	3,613	$	3,613
Amortization of capitalized purchased software costs		1,124		1,225		3,493		3,679
Amortization of debt costs		141		130		625		389
Total amortization expense	$	2,470	$	2,560	$	7,731	$	7,681

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

Year ending December 31,	Amortization Expense
Remaining three months of 2025	$	1,204
2026		4,817
2027		4,817
2028		4,817
2029		4,218
2030		24