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GOODWILL AND INTANGIBLE ASSETS, NET | 12 Months Ended
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Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS, NET | GOODWILL AND INTANGIBLE ASSETS, NET Goodwill by reportable segment was as follows:
| Americas |  | Europe |  | Total
Balance as of January 1, 2024 | $ | 241,860 |  |  | $ | 320,599 |  |  | $ | 562,459 |
NEORIS acquisition | 333,538 |  |  | 73,218 |  |  | 406,756 |
First Derivative acquisition | 35,793 |  |  | 134,650 |  |  | 170,443 |
Other 2024 Acquisitions | 40,529 |  |  | 12,926 |  |  | 53,455 |
2023 Acquisitions purchase accounting adjustments | 861 |  |  | — |  |  | 861 |
Effect of net foreign currency exchange rate changes | (515) |  |  | (11,884) |  |  | (12,399) |
Balance as of December 31, 2024 | $ | 652,066 |  |  | $ | 529,509 |  |  | $ | 1,181,575 |
2025 Acquisition | 3,168 |  |  | — |  |  | 3,168 |
NEORIS purchase accounting adjustments | (4,246) |  |  | (935) |  |  | (5,181) |
First Derivative purchase accounting adjustments | 265 |  |  | 995 |  |  | 1,260 |
Other 2024 Acquisitions purchase accounting adjustments | 368 |  |  | 392 |  |  | 760 |
Effect of net foreign currency exchange rate changes | 954 |  |  | 28,028 |  |  | 28,982 |
Balance as of December 31, 2025 | $ | 652,575 |  |  | $ | 557,989 |  |  | $ | 1,210,564 |
There were no accumulated goodwill impairment losses in the Americas or Europe reportable segments as of December 31, 2025, 2024 or 2023. Intangible assets other than goodwill as of December 31, 2025 and 2024 were as follows:
| As of December 31, 2025
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
Customer relationships | $ | 574,431 |  |  | $ | (182,242) |  |  | $ | 392,189 |
Trade names | 28,539 |  |  | (14,221) |  |  | 14,318 |
Software | 6,359 |  |  | (6,320) |  |  | 39 |
Contract royalties | 1,900 |  |  | (1,860) |  |  | 40 |
Total | $ | 611,229 |  |  | $ | (204,643) |  |  | $ | 406,586 |
| As of December 31, 2024
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
Customer relationships | $ | 547,552 |  |  | $ | (128,148) |  |  | $ | 419,404 |
Trade names | 26,468 |  |  | (10,017) |  |  | 16,451 |
Software | 5,942 |  |  | (5,656) |  |  | 286 |
Contract royalties | 1,900 |  |  | (1,623) |  |  | 277 |
Total | $ | 581,862 |  |  | $ | (145,444) |  |  | $ | 436,418 |
All of the intangible assets other than goodwill have finite lives and as such are subject to amortization. Amortization of the other intangible assets is recognized in depreciation and amortization expense in the consolidated statements of income. The following table presents amortization expense recognized for the periods indicated:
|  | For the Years Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Customer relationships |  | $ | 67,132 |  |  | $ | 26,798 |  |  | $ | 19,855 |
Trade names |  | 3,745 |  |  | 1,437 |  |  | 1,522 |
Software |  | 252 |  |  | 1,002 |  |  | 1,102 |
Contract royalties |  | 238 |  |  | 238 |  |  | 238 |
Total |  | $ | 71,367 |  |  | $ | 29,475 |  |  | $ | 22,717 |
Based on the carrying value of the Company’s existing intangible assets as of December 31, 2025, the estimated amortization expense for the future years is as follows:
Year ending December 31, |  | Amount
2026 |  | $ | 71,705 |
2027 |  | 66,179 |
2028 |  | 60,797 |
2029 |  | 57,659 |
2030 |  | 54,005 |
Thereafter |  | 96,241 |
Total |  | $ | 406,586 |

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