GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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