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Goodwill & Intangibles | 3 Months Ended
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Mar. 29, 2026
Goodwill & Intangibles |
Goodwill & Intangibles | 5. Goodwill & Intangibles ​ The Company operates in three geographic segments: Americas, Europe, and APMEA. The changes in the carrying amounts of goodwill by geographic segment are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross Balance | ​ | Accumulated Impairment Losses | ​ | Foreign Currency Translation | ​ | Net Goodwill
​ | ​ | ​ | ​ | Adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | January 1, | ​ | ​
​ | ​ | Balance | ​ | During | ​ | Balance | ​ | Balance | ​ | Impairment | ​ | Balance | ​ | 2026 - | ​ | ​
​ | ​ | January 1, | ​ | the | ​ | March 29, | ​ | January 1, | ​ | Loss During | ​ | March 29, | ​ | March 29, | ​ | March 29,
​ | ​ ​ ​ | 2026 | ​ ​ ​ ​ ​ | Period | ​ ​ ​ ​ | 2026 | ​ ​ ​ ​ ​ | 2026 | ​ ​ ​ ​ ​ | the Period | ​ ​ ​ ​ ​ | 2026 | ​ ​ ​ ​ | 2026 | ​ ​ ​ ​ ​ | 2026
​ | ​ | (in millions)
Americas | ​ | $ | 729.5 | ​ | $ | 3.2 | ​ | $ | 732.7 | ​ | $ | (24.5) | ​ | $ | — | ​ | $ | (24.5) | ​ | $ | (0.1) | ​ | $ | 708.1
Europe | ​ |  | 246.7 | ​ |  | — | ​ |  | 246.7 | ​ |  | (129.7) | ​ |  | — | ​ |  | (129.7) | ​ |  | (1.9) | ​ |  | 115.1
APMEA | ​ |  | 49.9 | ​ |  | (0.8) | ​ |  | 49.1 | ​ |  | (12.9) | ​ |  | — | ​ |  | (12.9) | ​ |  | 0.2 | ​ |  | 36.4
Total | ​ | $ | 1,026.1 | ​ | $ | 2.4 | ​ | $ | 1,028.5 | ​ | $ | (167.1) | ​ | $ | — | ​ | $ | (167.1) | ​ | $ | (1.8) | ​ | $ | 859.6
​ During the first quarter ended March 29, 2026, the Company completed adjustments to the purchase price allocations of certain acquisitions completed in 2025 resulting in a net $3.2 million of additional goodwill within the Americas segment and $0.8 million reduction in goodwill within the APMEA segment. ​ Goodwill and indefinite-lived intangible assets are tested for impairment at least annually or more frequently if events or circumstances indicate that it is “more likely than not” that they might be impaired, such as from a change in business conditions. The Company performs its annual goodwill and indefinite-lived intangible assets impairment assessment in the fourth quarter of each year. At the most recent annual impairment test, which occurred during the fourth quarter of 2025, the Company performed qualitative fair value assessments for seven of its reporting units and a quantitative analysis for the Fluid Solutions-Europe reporting unit, including an evaluation of certain key assumptions for all of its reporting units at the impairment test date. The Company concluded that the fair value of all reporting units tested exceeded their carrying values at that time. ​ Intangible assets include the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 29, 2026 | ​ | December 31, 2025
​ | ​ | Gross | ​ | ​ | ​ | ​ | Net | ​ | Gross | ​ | ​ | ​ | ​ | Net
​ | ​ | Carrying | ​ | Accumulated | ​ | Carrying | ​ | Carrying | ​ | Accumulated | ​ | Carrying
​ | ​ ​ ​ | Amount | ​ ​ ​ | Amortization | ​ ​ ​ | Amount | ​ ​ ​ | Amount | ​ ​ ​ | Amortization | ​ ​ ​ | Amount
​ | ​ | (in millions)
Patents | ​ | $ | 5.0 | ​ | $ | (5.0) | ​ | $ | — | ​ | $ | 5.0 | ​ | $ | (5.0) | ​ | $ | —
Customer relationships | ​ |  | 314.0 | ​ |  | (122.9) | ​ |  | 191.1 | ​ |  | 315.0 | ​ |  | (117.9) | ​ |  | 197.1
Technology | ​ |  | 55.5 | ​ |  | (50.7) | ​ |  | 4.8 | ​ |  | 55.5 | ​ |  | (50.1) | ​ |  | 5.4
Trade names | ​ |  | 25.8 | ​ |  | (14.2) | ​ |  | 11.6 | ​ |  | 26.4 | ​ |  | (13.9) | ​ |  | 12.5
Other | ​ |  | 1.1 | ​ |  | (0.9) | ​ |  | 0.2 | ​ |  | 1.1 | ​ |  | (0.9) | ​ |  | 0.2
Total amortizable intangibles | ​ |  | 401.4 | ​ |  | (193.7) | ​ |  | 207.7 | ​ |  | 403.0 | ​ |  | (187.8) | ​ |  | 215.2
Indefinite-lived intangible assets | ​ |  | 79.1 | ​ |  | — | ​ |  | 79.1 | ​ |  | 79.4 | ​ |  | — | ​ |  | 79.4
​ | ​ | $ | 480.5 | ​ | $ | (193.7) | ​ | $ | 286.8 | ​ | $ | 482.4 | ​ | $ | (187.8) | ​ | $ | 294.6
​ Aggregate amortization expense for amortized intangible assets for the first quarters ended March 29, 2026 and March 30, 2025 was $6.0 million and $4.9 million, 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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