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Goodwill and Other Intangibles | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | NOTE 11 - GOODWILL AND OTHER INTANGIBLES The Company’s finite and indefinite-lived intangible assets consist of the following:
| September 30, 2025 |  | December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Finite-lived intangible assets |  |  |  |  |  |  |
Patents | $ | 4,806 |  |  | $ | (4,806) |  |  | $ | 4,806 |  |  | $ | (4,806) |
Land use rights | 718 |  |  | (143) |  |  | 637 |  |  | (122) |
Trademark | 1,948 |  |  | (1,715) |  |  | 1,910 |  |  | (1,685) |
Technology | 7,204 |  |  | (4,630) |  |  | 6,582 |  |  | (3,933) |
Customer relationships | 18,681 |  |  | (12,391) |  |  | 17,399 |  |  | (11,132) |
| $ | 33,357 |  |  | $ | (23,685) |  |  | $ | 31,334 |  |  | $ | (21,678) |
Indefinite-lived intangible assets |  |  |  |  |  |  |
Goodwill | $ | 30,480 |  |  |  |  | $ | 26,685 |  |  |
The Company’s measurement date for its annual impairment test for goodwill is October 1st of each year. The Company performs additional interim impairment assessments as circumstances warrant. The Company may use both quantitative and qualitative approaches when testing goodwill for impairment. For selected reporting units where the qualitative approach is utilized, a qualitative evaluation of events and circumstances impacting the reporting unit is performed to determine if it is more likely than not that the fair value of the reporting unit exceeds its carrying amount. If that determination is made, no further evaluation is necessary. Otherwise, the Company performs a quantitative impairment test on the reporting unit. For the quantitative approach, the Company uses a combination of the income approach, which uses a discounted cash flow methodology, and the market approach, which uses comparable market multiples in computing fair value by reporting unit. The Company then compares the fair value of the reporting unit with its carrying value to assess if goodwill has been impaired. The fair value estimates are subjective and sensitive to significant assumptions, such as revenue growth rates, operating margins, the weighted average cost of capital, and estimated market multiples, all of which are affected by expectations of future market or economic conditions. The Company believes that the methodologies, significant assumptions, and weightings used are reasonable and result in appropriate fair values of the reporting units. As a result of actual performance for the EMEA reporting unit falling short of internal forecasts, combined with an increase in projected capital expenditures related to the construction of a new manufacturing facility in 2025 and 2026, management identified a potential indicator of impairment as of September 30, 2025. The Company performed an interim impairment assessment and based on this review, the estimated fair value of the EMEA reporting unit exceeded its carrying amount by approximately 30%. The interim impairment assessment was performed using the same methodologies as the annual assessments discussed above and included revised forecasts, which are subject to various risks and uncertainties, including forecasted revenue, expenses and cash flows. Accordingly, management concluded that no impairment of goodwill was required for the EMEA reporting unit as of September 30, 2025. No indicators of impairment were identified for the Company's other reporting units for the period ending September 30, 2025. The Company’s only intangible asset with an indefinite life is goodwill. The Company’s goodwill is not deductible for tax purposes. Changes in the carrying amount of goodwill by reporting unit are shown in the following table:
| PLP-USA |  | The Americas |  | EMEA |  | Asia-Pacific |  | Total
Balance at January 1, 2025 | $ | 3,078 |  |  | $ | 8,858 |  |  | $ | 14,749 |  |  | $ | — |  |  | $ | 26,685 |
Acquisitions | — |  |  | 720 |  |  | — |  |  | — |  |  | 720 |
Currency translation | — |  |  | 937 |  |  | 2,138 |  |  | — |  |  | 3,075 |
Balance at September 30, 2025 | $ | 3,078 |  |  | $ | 10,515 |  |  | $ | 16,887 |  |  | $ | — |  |  | $ | 30,480 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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