XML 29 R13.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2025

NOTE 5 – GOODWILL AND INTANGIBLES

The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2025 and 2024 were as follows:


							The Harris
	Americas			International			Products
	Welding			Welding			Group			Consolidated
Balance as of December 31, 2023	$	497,600			153,479			43,373			694,452
Additions and adjustments ⁽¹⁾		101,657			33,427			—			135,084
Foreign currency translation		(13,443)			(10,644)			(522)			(24,609)
Balance as of December 31, 2024		585,814			176,262			42,851			804,927
Additions and adjustments ⁽²⁾		(662)			57,575			—			56,913
Foreign currency translation		8,048			16,220			578			24,846
Balance as of December 31, 2025	$	593,200		$	250,057		$	43,429		$	886,686

(1)	Additions to Americas Welding reflect goodwill recognized in the acquisitions of Vanair and RedViking. Additions to International Welding reflect goodwill recognized in the acquisition of Inrotech.

(2)	Decreases to Americas Welding reflects Vanair and RedViking purchase accounting adjustments. Additions to International Welding reflect goodwill recognized in the acquisition of Alloy Steel.

Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class were as follows:


	December 31, 2025						December 31, 2024
	Gross			Accumulated			Gross			Accumulated
	Amount			Amortization			Amount			Amortization
Intangible assets not subject to amortization
Trademarks and trade names	$	16,311					$	16,208
Intangible assets subject to amortization
Trademarks and trade names	$	109,798		$	57,807		$	106,512		$	55,078
Customer relationships		217,968			115,783			192,196			106,719
Technology and know-how		102,495			36,483			82,019			29,478
Patents		24,173			16,820			23,901			16,008
Other		44,260			37,688			42,315			34,863
Total intangible assets subject to amortization	$	498,694		$	264,581		$	446,943		$	242,146

During 2025, the Company acquired intangible assets either individually or as part of a group of assets, with an initial purchase price allocation and weighted-average useful-life as follows:


	Year Ended December 31, 2025
	Purchase Price			Weighted
	Allocation			Average Life
Acquired intangible assets subject to amortization
Trademarks and trade names	$	7,407		15
Customer relationships		25,491		14
Technology and know-how		19,685		20
Other		1,295		5
Total acquired intangible assets subject to amortization	$	53,878

Aggregate amortization expense was $29,717, $27,075 and $25,983 for 2025, 2024 and 2023, respectively. At December 31, 2025, the Company’s estimated annual amortization expense for intangible assets for each of the next five years is $33,696 in 2026, $31,456 in 2027, $30,143 in 2028, $25,961 in 2029 and $22,034 in 2030.