Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 5 – Goodwill and Other Intangibles

Goodwill

Changes in the carrying amount of goodwill, by reportable segment, for the three months ended March 31, 2025 was as follows:


	Automotive		Medical		Total
Balance as of December 31, 2024	$	72,754	$	26,849	$	99,603
Currency translation		2,554		274		2,828
Balance as of March 31, 2025	$	75,308	$	27,123	$	102,431

The accumulated impairment losses of goodwill for Automotive and Medical was $0 and $19,509, respectively as of March 31, 2025.

Other Intangible Assets

Other intangible assets and accumulated amortization balances as of March 31, 2025 and December 31, 2024 were as follows:


	Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net Carrying Value
Definite-lived:
Customer relationships	$	113,107	$	(71,993	)	$	(5,477	)	$	35,637
Technology		44,989		(31,721	)		(24	)		13,244
Product development costs		18,937		(18,768	)		—			169
Software development		1,007		(252	)		—			755
Indefinite-lived:
Tradenames		7,013		—			(530	)		6,483
Balance as of March 31, 2025	$	185,053	$	(122,734	)	$	(6,031	)	$	56,288

	Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net Carrying Value
Definite-lived:
Customer relationships	$	109,608	$	(67,787	)	$	(5,477	)	$	36,344
Technology		43,458		(29,976	)		(24	)		13,458
Product development costs		18,019		(17,849	)		—			170
Software development		1,007		(201	)		—			806
Indefinite-lived:
Tradenames		7,003		—			(530	)		6,473
Balance as of December 31, 2024	$	179,095	$	(115,813	)	$	(6,031	)	$	57,251

In addition to annual impairment testing of goodwill and indefinite-lived intangibles, which is performed in the fourth quarter of each fiscal year, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions used in determining fair value and therefore would require interim impairment testing, including long-term revenue growth projections, profitability, discount rates, recent market valuations from transactions by comparable companies, volatility in the Company's market capitalization, and general industry, market and macroeconomic conditions. During the three months ended March 31, 2024, we recorded a non-cash impairment charge of $530 for one of our tradenames within the Medical segment. There was no impairment recorded during the three months ended March 31, 2025.