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Acquisitions, Goodwill And Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Acquisitions, Goodwill And Other Intangible Assets [Abstract] |
Schedule of Goodwill | Changes in the carrying amount of goodwill by reportable segment were as follows:
(In thousands) | OEM Segment |  | Aftermarket Segment |  | Total
Net balance – December 31, 2022 | $ | 399,736 |  |  | $ | 167,327 |  |  | $ | 567,063 |
Acquisitions and divestitures | 14,025 |  |  | — |  |  | 14,025 |
Measurement period adjustments | 5,708 |  |  | 160 |  |  | 5,868 |
Foreign currency translation | 2,232 |  |  | 362 |  |  | 2,594 |
Net balance – December 31, 2023 | 421,701 |  |  | 167,849 |  |  | 589,550 |
Acquisitions | 1,709 |  |  | — |  |  | 1,709 |
Foreign currency translation | (5,190) |  |  | (296) |  |  | (5,486) |
Net balance – December 31, 2024 | $ | 418,220 |  |  | $ | 167,553 |  |  | $ | 585,773 |
Schedule of Finite-Lived Intangible Assets | Other intangible assets, by segment, at December 31 were as follows:
(In thousands) | 2024 |  | 2023 |  |
OEM Segment | $ | 235,403 |  |  | $ | 276,622 |  |  |
Aftermarket Segment | 156,615 |  |  | 172,137 |  |  |
Other intangible assets | $ | 392,018 |  |  | $ | 448,759 |  |  |
Other intangible assets consisted of the following at December 31, 2024:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 508,945 |  |  | $ | 228,332 |  |  | $ | 280,613 |  |  | 6 | to | 20
Patents | 111,934 |  |  | 74,010 |  |  | 37,924 |  |  | 3 | to | 20
Trade names (finite life) | 95,879 |  |  | 30,524 |  |  | 65,355 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 5,154 |  |  | 4,732 |  |  | 422 |  |  | 3 | to | 6
Other | 609 |  |  | 337 |  |  | 272 |  |  | 2 | to | 12
Other intangible assets | $ | 729,953 |  |  | $ | 337,935 |  |  | $ | 392,018 |  |  |  |  |
Schedule of Finite-Lived Intangible Assets | Other intangible assets consisted of the following at December 31, 2023:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 509,505 |  |  | $ | 189,967 |  |  | $ | 319,538 |  |  | 6 | to | 20
Patents | 114,864 |  |  | 67,602 |  |  | 47,262 |  |  | 3 | to | 20
Trade names (finite life) | 99,366 |  |  | 26,978 |  |  | 72,388 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,600 |  |  | — |  |  | 7,600 |  |  | Indefinite
Non-compete agreements | 10,104 |  |  | 8,453 |  |  | 1,651 |  |  | 3 | to | 6
Other | 609 |  |  | 289 |  |  | 320 |  |  | 2 | to | 12
Other intangible assets | $ | 742,048 |  |  | $ | 293,289 |  |  | $ | 448,759 |  |  |  |  |
Schedule of Indefinite-Lived Intangible Assets | Other intangible assets, by segment, at December 31 were as follows:
(In thousands) | 2024 |  | 2023 |  |
OEM Segment | $ | 235,403 |  |  | $ | 276,622 |  |  |
Aftermarket Segment | 156,615 |  |  | 172,137 |  |  |
Other intangible assets | $ | 392,018 |  |  | $ | 448,759 |  |  |
Other intangible assets consisted of the following at December 31, 2024:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 508,945 |  |  | $ | 228,332 |  |  | $ | 280,613 |  |  | 6 | to | 20
Patents | 111,934 |  |  | 74,010 |  |  | 37,924 |  |  | 3 | to | 20
Trade names (finite life) | 95,879 |  |  | 30,524 |  |  | 65,355 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 5,154 |  |  | 4,732 |  |  | 422 |  |  | 3 | to | 6
Other | 609 |  |  | 337 |  |  | 272 |  |  | 2 | to | 12
Other intangible assets | $ | 729,953 |  |  | $ | 337,935 |  |  | $ | 392,018 |  |  |  |  |
Schedule of Indefinite-lived Intangible Assets | Other intangible assets consisted of the following at December 31, 2023:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 509,505 |  |  | $ | 189,967 |  |  | $ | 319,538 |  |  | 6 | to | 20
Patents | 114,864 |  |  | 67,602 |  |  | 47,262 |  |  | 3 | to | 20
Trade names (finite life) | 99,366 |  |  | 26,978 |  |  | 72,388 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,600 |  |  | — |  |  | 7,600 |  |  | Indefinite
Non-compete agreements | 10,104 |  |  | 8,453 |  |  | 1,651 |  |  | 3 | to | 6
Other | 609 |  |  | 289 |  |  | 320 |  |  | 2 | to | 12
Other intangible assets | $ | 742,048 |  |  | $ | 293,289 |  |  | $ | 448,759 |  |  |  |  |
Schedule of Estimated Amortization Expense | Amortization expense related to other intangible assets was as follows for the years ended December 31:
(In thousands) | 2024 |  | 2023 |  | 2022
Cost of sales | $ | 8,915 |  |  | $ | 9,910 |  |  | $ | 10,155 |
Selling, general and administrative expense | 46,385 |  |  | 47,165 |  |  | 46,218 |
Amortization expense | $ | 55,300 |  |  | $ | 57,075 |  |  | $ | 56,373 |
Estimated amortization expense for other intangible assets for the next five years is as follows:
(In thousands) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Cost of sales | $ | 7,997 |  |  | $ | 6,779 |  |  | $ | 6,046 |  |  | $ | 5,995 |  |  | $ | 5,049 |
Selling, general and administrative expense | 43,184 |  |  | 41,279 |  |  | 40,219 |  |  | 37,064 |  |  | 35,967 |
Amortization expense | $ | 51,181 |  |  | $ | 48,058 |  |  | $ | 46,265 |  |  | $ | 43,059 |  |  | $ | 41,016 |

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