Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 52

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 Legacy Operations STI OperationsTotal Beginning balance$69,727 $90,462 $160,189 Foreign currency translation— 12,419 12,419 Ending balance (1)$69,727 $102,881 $172,608 (1) Goodwill attributable to Array Legacy Operations is net of cumulative impairments of $51.9 million. Goodwill attributable to STI Operations is net of cumulative impairments of $236.0 million.The Company tests goodwill for impairment annually or more frequently if facts and circumstances indicate that it is more likely than not that the fair value of its reporting units is less than their carrying value, which would require the Company to perform an interim goodwill impairment test. There were no indicators of impairment as of June 30, 2025.Long Lived AssetsThe Company assesses long-lived assets classified as “held and used,” including property, plant and equipment, lease assets and intangible assets for impairment whenever events or changes in circumstances arise, including consideration of technological obsolescence, that may indicate that the carrying amount of such assets may not be recoverable.As of June 30, 2025, no events or circumstances were noted that would indicate the carrying amount of any of Array Legacy’s Operations or STI Operations assets may not be recoverable. 

15

Other Intangible Assets, NetOther intangible assets, net consisted of the following (in thousands, except useful lives): Estimated Useful Lives (Years)June 30, 2025December 31, 2024Amortizable:Developed technology14$203,800 $203,800 Computer software315,906 15,826 Customer relationships10191,480 179,166 Backlog119,195 16,877 Trade name2017,193 15,117 Total amortizable intangibles447,574 430,786 Accumulated amortization:Developed technology130,740 123,462 Computer software14,836 14,552 Customer relationships115,774 102,541 Backlog19,195 16,877 Trade name2,983 2,245 Total accumulated amortization283,528 259,677 Total amortizable intangibles, net164,046 171,109 Non-amortizable:Trade name10,300 10,300 Total other intangible assets, net$174,346 $181,409 Amortization expense related to