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Note 9 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Text Block]

9.	Goodwill and Intangible Assets

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

	*Domestic*			*International*			*Total*
Balance as of December 31, 2023	$	1,018,528		$	413,856		$	1,432,384
Acquisitions of businesses, net		22,641			-			22,641
Foreign currency translation rate changes		(22	)		(18,742	)		(18,764	)
Balance as of December 31, 2024		1,041,147			395,114			1,436,261
Purchase accounting adjustments		(6,182	)		310			(5,872	)
Foreign currency translation rate changes		112			36,593			36,705
Balance as of December 31, 2025	$	1,035,077		$	432,017		$	1,467,094

Refer to Note 3, “Acquisitions,” to the consolidated financial statements of this Annual Report on Form 10-K for further information regarding the Company’s acquisitions.

Goodwill applicable to each reportable segment as of December 31, 2025 and 2024 is as follows:

	*December 31, 2025*							*December 31, 2024*
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Domestic	$	1,538,270	$	(503,193	)	$	1,035,077	$	1,544,340	$	(503,193	)	$	1,041,147
International		436,628		(4,611	)		432,017		399,725		(4,611	)		395,114
Total	$	1,974,898	$	(507,804	)	$	1,467,094	$	1,944,065	$	(507,804	)	$	1,436,261

The following table summarizes intangible assets by major category as of December 31, 2025 and 2024:

			*December 31, 2025*							*December 31, 2024*
	Weighted Average Amortization Years		Gross		Accumulated Amortization			Net Book Value		Gross		Accumulated Amortization			Net Book Value
Finite-lived intangible assets:
Tradenames		15	$	162,098	$	(89,942	)	$	72,156	$	160,473	$	(81,083	)	$	79,390
Customer lists		13		602,526		(475,009	)		127,517		591,745		(439,008	)		152,737
Patents and technology		14		678,953		(340,645	)		338,308		673,425		(294,330	)		379,095
Software		-		1,046		(1,046	)		-		1,046		(1,046	)		-
Non-compete/other		5		76,568		(66,557	)		10,011		76,251		(56,225	)		20,026
Total finite-lived intangible assets			$	1,521,191	$	(973,199	)	$	547,992	$	1,502,940	$	(871,692	)	$	631,248
Indefinite-lived tradenames				127,274		-			127,274		127,274		-			127,274
Total intangible assets			$	1,648,465	$	(973,199	)	$	675,266	$	1,630,214	$	(871,692	)	$	758,522

Amortization expense of intangible assets was $101,507, $97,743, and $104,194 in 2025, 2024 and 2023, respectively. Excluding the impact of future acquisitions or divestitures, the Company estimates amortization expense for the next five years to be as follows: 2026 - $103,153; 2027 - $58,853; 2028 - $53,033; 2029 - $48,024; 2030 - $43,998.