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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure | GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows the changes in the carrying amount of goodwill for the years ended December 31:
| 2024 |  | 2023
Balance at beginning of year | $ | 670,108 |  |  | $ | 660,170 |
Goodwill acquired | 5,897 |  |  | 2,810 |
Goodwill disposed | (175) |  |  | — |
Foreign currency translation | (6,916) |  |  | 7,128 |
Balance at year end | $ | 668,914 |  |  | $ | 670,108 |
Goodwill and indefinite-lived assets are reviewed for impairment on an annual basis in the fourth quarter. The Company completed its impairment review and determined that there had been no impairment of these assets through December 31, 2024. The Company identified no triggering events or other circumstances which indicated the carrying amount of goodwill or intangible assets may not be recoverable. The components of other intangible assets as of December 31 are as follows:
| 2024 |  | 2023
| Gross Amount |  | Accumulated Amortization |  | Intangibles, Net |  | Gross Amount |  | Accumulated Amortization |  | Intangibles, Net
Customer relationships | $ | 289,178 |  |  | $ | (116,812) |  |  | $ | 172,366 |  |  | $ | 294,180 |  |  | $ | (107,665) |  |  | $ | 186,515 |
Proven technology and patents | 123,971 |  |  | (80,634) |  |  | 43,337 |  |  | 129,227 |  |  | (75,014) |  |  | 54,213 |
Tradenames (finite life) | 7,853 |  |  | (5,308) |  |  | 2,545 |  |  | 7,908 |  |  | (4,535) |  |  | 3,373 |
Tradenames (indefinite life) | 35,088 |  |  | — |  |  | 35,088 |  |  | 36,320 |  |  | — |  |  | 36,320 |
Other | 12,426 |  |  | (8,619) |  |  | 3,807 |  |  | 13,236 |  |  | (8,228) |  |  | 5,008 |
| $ | 468,516 |  |  | $ | (211,373) |  |  | $ | 257,143 |  |  | $ | 480,871 |  |  | $ | (195,442) |  |  | $ | 285,429 |
The Company recognized amortization expense associated with the above intangible assets of $27.1 million, $27.6 million, and $26.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $26.0 million for 2025, $22.0 million for 2026, $20.7 million for 2027, $19.4 million for 2028, and $17.6 million for 2029. The finite-lived intangible assets are amortized on a straight-line basis over periods ranging from 3 to 45 years. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. Purchased intangibles amortization was $25.9 million, $20.1 million after tax, $26.4 million, $20.5 million after tax, and $25.5 million, $19.8 million after tax, for the years ended December 31, 2024, 2023, and 2022, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software, which is included in property, plant, and equipment in Note 8, of $45.6 million, $44.4 million, and $39.6 million for the years ended December 31, 2024, 2023, and 2022, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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