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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS We have three operating segments which are also our reporting units: Electronic Test, Environmental Technologies and Process Technologies. Goodwill and intangible assets on our Consolidated Balance Sheets are the result of our acquisitions. Goodwill Changes in the amount of the carrying value of goodwill for the nine months ended September 30, 2025, are as follows:
(in thousands) |  |
Balance - January 1, 2025 |  | $ | 30,744 |
Impact of foreign currency translation adjustments |  | 1,570 |
Balance – September 30, 2025 |  | $ | 32,314 |
Goodwill was comprised of the following at September 30, 2025, and December 31, 2024:
(in thousands) |  | September 30, 2025 |  | December 31, 2024
Electronic Test |  | $ | 13,904 |  |  | $ | 12,567 |
Environmental Technologies |  | 1,817 |  |  | 1,817 |
Process Technologies |  | 16,593 |  |  | 16,360 |
Total goodwill |  | $ | 32,314 |  |  | $ | 30,744 |
Intangible Assets Changes in the amount of the carrying value of our intangible assets for the nine months ended September 30, 2025 were as follows:
(in thousands) |  | Finite-Lived |  | Indefinite-Lived
Balance - January 1, 2025 |  | $ | 16,201 |  |  | $ | 10,175 |
Impact of foreign currency translation adjustments |  | 1,484 |  |  | 314 |
Amortization |  | (2,504) |  |  | — |
Balance – September 30, 2025 |  | $ | 15,181 |  |  | $ | 10,489 |
The following tables provide further detail about our intangible assets as of September 30, 2025, and December 31, 2024:
|  | September 30, 2025
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |
Customer relationships |  | $ | 25,146 |  |  | $ | 13,286 |  |  | $ | 11,860 |
Technology |  | 6,259 |  |  | 2,938 |  |  | 3,321 |
Patents |  | 590 |  |  | 590 |  |  | — |
Software |  | 270 |  |  | 270 |  |  | — |
Trade name |  | 140 |  |  | 140 |  |  | — |
Total finite-lived intangible assets |  | 32,405 |  |  | 17,224 |  |  | 15,181 |
Indefinite-lived intangible assets: |  |  |  |  |  |
Trademarks |  | 10,489 |  |  | — |  |  | 10,489 |
Total intangible assets |  | $ | 42,894 |  |  | $ | 17,224 |  |  | $ | 25,670 |
|  | December 31, 2024
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |
Customer relationships |  | $ | 23,912 |  |  | $ | 11,496 |  |  | $ | 12,416 |
Technology |  | 5,786 |  |  | 2,001 |  |  | 3,785 |
Patents |  | 590 |  |  | 590 |  |  | — |
Backlog |  | 481 |  |  | 481 |  |  | — |
Software |  | 270 |  |  | 270 |  |  | — |
Trade name |  | 140 |  |  | 140 |  |  | — |
Total finite-lived intangible assets |  | 31,179 |  |  | 14,978 |  |  | 16,201 |
Indefinite-lived intangible assets: |  |  |  |  |  |
Trademarks |  | 10,175 |  |  | — |  |  | 10,175 |
Total intangible assets |  | $ | 41,354 |  |  | $ | 14,978 |  |  | $ | 26,376 |
The following table sets forth the estimated annual amortization expense for each of the next five years and thereafter:
(in thousands) |  |
Remaining 2025 |  | $ | 908 |
2026 |  | 2,592 |
2027 |  | 2,043 |
2028 |  | 1,687 |
2029 |  | 1,355 |
Thereafter |  | 6,596 |
Total estimated amortization of finite-lived intangible assets |  | $ | 15,181 |

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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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