XML 34 R23.htm IDEA: XBRL DOCUMENT v3.25.3
Goodwill and Intangible Assets (Notes)
9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] Goodwill and Intangible Assets, Net
Goodwill

    The following table presents the changes in the carrying amount of our goodwill (in thousands):
Total
Balance as of January 1, 2025
$1,432,772 
Currency translation65,995 
Balance as of September 30, 2025
$1,498,767 

Intangible Assets, Net

    Intangible assets, carried at cost less accumulated amortization and amortized on a straight-line basis, were as follows (in thousands):
 Weighted-Average Amortization Life in YearsSeptember 30, 2025
 CostAccumulated
Amortization
Net
Patents10$39,997 $24,794 $15,203 
Customer contracts1210,060 7,321 2,739 
Non-contractual customer relationships8561,041 288,073 272,968 
Trademarks15,425 5,425 — 
Trade name1518,247 9,270 8,977 
Developed technology(1)
10625,973 277,434 348,539 
Non-compete39,100 9,100 — 
Total amortized intangible assets $1,269,843 $621,417 $648,426 
Internally developed software(2)
$16,401 $16,401 
Total intangible assets$1,286,244 $621,417 $664,827 
______________________________
(1)    Developed technology primarily consists of acquired patented technologies and internally developed software. Upon completion of development, the assets are amortized over their estimated useful lives.
(2)    Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use.

 Weighted-Average Amortization Life in Years
December 31, 2024
 CostAccumulated
Amortization
Net
Patents10$36,811 $22,913 $13,898 
Customer contracts129,818 6,994 2,824 
Non-contractual customer relationships8546,404 236,267 310,137 
Trademarks15,425 5,425 — 
Trade name1518,239 8,357 9,882 
Developed technology(1)
10619,540 227,869 391,671 
Non-compete39,100 9,100 — 
Total amortized intangible assets $1,245,337 $516,925 $728,412 
Internally developed software(2)
$12,377 $12,377 
Total intangible assets$1,257,714 $516,925 $740,789 
_______________________________
(1)    Developed technology primarily consists of acquired patented technologies and internally developed software. Upon completion of development, the assets are amortized over their estimated useful lives.
(2)    Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use. During 2024, we reclassified $33.2 million to developed technology.

Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $33.1 million and $98.4 million for the three and nine months ended September 30, 2025, respectively, as compared to $34.3 million and $100.5 million during the three and nine months ended September 30, 2024, respectively. Intangible asset amortization expense included in cost of goods sold was $1.2 million and $3.3 million, for the three and nine months ended September 30, 2025, respectively, as compared to $0.7 million and $0.7 million during the three and nine months ended September 30, 2024.
As of September 30, 2025 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):

Remainder of 2025$32,410 
2026135,833 
2027119,412 
2028118,813 
2029115,717 
203053,215 
Thereafter73,026 
Total$648,426