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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
Goodwill | Changes in the carrying amount of goodwill for the six months ended June 30, 2026 were as follows:
| Americas |  | EMEA |  | Asia/Pacific |  | Total |  |
Balance as of December 31, 2025 | $ | 287,028 |  | $ | — |  | $ | 214,692 |  | $ | 501,720 |  |
Currency translation adjustments | 624 |  |  | — |  |  | 1,377 |  |  | 2,001 |  |
Balance as of June 30, 2026 | $ | 287,652 |  |  | $ | — |  |  | $ | 216,069 |  |  | $ | 503,721 |  |  |
| Jun 30, 2026 |  | Dec 31, 2025 |
Goodwill, gross | $ | 692,547 |  |  | $ | 694,311 |  |
Accumulated impairment losses (1) | (188,826) |  |  | (192,591) |  |
Goodwill, net | $ | 503,721 |  |  | $ | 501,720 |  |
(1) Accumulated impairment losses are attributable to the non-cash impairment charges of $88.8 million and $93.0 million to write down the carrying value of the EMEA reporting unit during the second quarter of 2025 and the fourth quarter of 2022, respectively. These amounts include the impact of currency translation. The Company completes its annual goodwill and indefinite-lived intangible asset impairment tests during the fourth quarter of each year, or more frequently if triggering events indicate a possible impairment in one or more of its reporting units. The Company continually evaluates financial performance, economic conditions and other recent developments in assessing if a triggering event indicates that the carrying value of goodwill, indefinite-lived, or long-lived assets might be impaired. During the second quarter of 2025, the Company concluded that the negative impacts of the lower than projected financial performance, driven by the continuation of soft end market conditions, as well as an increase in the Company’s cost of capital, driven by uncertainty around the potential negative impacts of tariffs, represented a triggering event for the Company’s EMEA reporting unit and the associated goodwill, as well as the related asset group. As a result of this conclusion, the Company completed an interim impairment assessment as of June 30, 2025 for its EMEA reporting unit and the related asset group. The Company concluded that the undiscounted cash flows exceeded the carrying value of the EMEA asset group, and therefore that the long-lived assets were not impaired. In completing a quantitative goodwill impairment test, the Company compares the reporting unit’s fair value, based on future discounted cash flows, to its carrying value in order to determine if an impairment of goodwill exists. The estimates of future discounted cash flows involve considerable judgment and are based upon certain significant assumptions including the weighted average cost of capital (“WACC”) as well as projected EBITDA, which includes assumptions related to revenue growth rates, gross margin levels and operating expenses. As a result of the impact of the uncertainty around tariffs, and continued soft end market conditions driving lower current year EMEA earnings and a decline in projected future EMEA earnings, as well as an increase in the WACC assumption utilized in the Company’s 2024 annual impairment assessment, the Company concluded that the estimated fair value of the EMEA reporting unit was less than its carrying value. As a result, a pre-tax, non-cash impairment charge of $88.8 million ($86.7 million after-tax) to write down the remaining carrying value amount of the EMEA reporting unit Goodwill was recorded in the second quarter of 2025, reflected in “Impairment charges” in the Consolidated Statements of Operations for the three and six months ended June 30, 2025.
Intangible Asset, Finite-Lived | Gross carrying amounts and accumulated amortization for definite-lived intangible assets were as follows:
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
| June 30, 2026 |  | December 31, 2025 |  | June 30, 2026 |  | December 31, 2025 |  | June 30, 2026 |  | December 31, 2025
Customer lists and rights to sell | $ | 895,409 |  | $ | 901,662 |  | $ | 376,289 |  | $ | 351,859 |  | $ | 519,120 |  | $ | 549,803
Trademarks, formulations and product technology | 194,336 |  | 199,434 |  | 81,753 |  | 77,521 |  | 112,583 |  | 121,913
Other | 6,860 |  | 6,871 |  | 6,251 |  | 6,236 |  | 609 |  | 635
Total definite-lived intangible assets | $ | 1,096,605 |  | $ | 1,107,967 |  | $ | 464,293 |  | $ | 435,616 |  | $ | 632,312 |  | $ | 672,351
Schedule of Finite-lived Intangible Assets Amortization Expense | The Company recorded amortization expense as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Amortization expense | $ | 16,097 |  |  | $ | 16,088 |  |  | $ | 32,225 |  |  | $ | 30,325 |
Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense | Estimated annual aggregate amortization expense for the current year and subsequent five years is as follows:
For the remainder of 2026 | $ | 30,857
For the year ended December 31, 2027 | 62,725
For the year ended December 31, 2028 | 62,255
For the year ended December 31, 2029 | 61,138
For the year ended December 31, 2030 | 59,827
For the year ended December 31, 2031 | 58,545

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