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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary Quantitative Assessment

This quantitative assessment during the quarter ended June 30, 2023 resulted in the following:

Reporting Unit

 

Goodwill Impairment

 

 

Remaining Goodwill

 

Electronics

 

$

826

 

 

$

1,420

 

General Metal Finishing

 

 

428

 

 

 

307

 

Equipment Solutions Business

 

 

372

 

 

 

100

 

This quantitative assessment during the quarter ended December 31, 2023 resulted in the following:

Reporting Unit

 

Goodwill Impairment

 

 

Remaining Goodwill

 

Electronics

 

$

48

 

 

$

1,401

 

General Metal Finishing

 

 

 

 

 

318

 

Equipment Solutions Business

 

 

13

 

 

 

87

 

Goodwill

The changes in the carrying amount of goodwill and accumulated impairment losses were as follows:

 

 

2023

 

 

2022

 

 

 

Gross
   Carrying
   Amount

 

 

Accumulated
   Impairment
   Loss

 

 

Net

 

 

Gross
   Carrying
   Amount

 

 

Accumulated
   Impairment
   Loss

 

 

Net

 

Beginning balance at January 1

 

$

4,454

 

 

$

(146

)

 

$

4,308

 

 

$

1,374

 

 

$

(146

)

 

$

1,228

 

Impairment of goodwill

 

 

 

 

 

(1,687

)

 

 

(1,687

)

 

 

 

 

 

 

 

 

 

Acquired goodwill

 

 

 

 

 

 

 

 

 

 

 

3,064

 

 

 

 

 

 

3,064

 

Foreign currency translation and measurement period adjustments

 

 

(67

)

 

 

 

 

 

(67

)

 

 

16

 

 

 

 

 

 

16

 

Ending balance at December 31

 

$

4,387

 

 

$

(1,833

)

 

$

2,554

 

 

$

4,454

 

 

$

(146

)

 

$

4,308

 

During the twelve months ended December 31, 2022, the Company recorded goodwill related to the Atotech Acquisition. See Note 5.

Intangible Assets

Intangible Assets

The Company’s intangible assets are comprised of the following:

As of December 31, 2023

 

Gross

 

 

Accumulated
 Impairment Charges

 

 

Accumulated Amortization

 

 

Foreign Currency
 Translation and Measurement
 Period Adjustments

 

 

Net

 

Completed technology

 

$

1,268

 

 

$

(152

)

 

$

(405

)

 

$

(4

)

 

$

707

 

Customer relationships

 

 

2,072

 

 

 

(1

)

 

 

(335

)

 

 

(17

)

 

 

1,719

 

Patents, trademarks, trade names and other

 

 

381

 

 

 

(63

)

 

 

(118

)

 

 

(7

)

 

 

193

 

 

 

$

3,721

 

 

$

(216

)

 

$

(858

)

 

$

(28

)

 

$

2,619

 

During the twelve months ended December 31, 2023, $117 of IPR&D included with patents, trademarks, trade names and other was reclassified into completed technology.

As of December 31, 2022

 

Gross

 

 

Accumulated Impairment
Charges

 

 

Accumulated
Amortization

 

 

Foreign
Currency
Translation

 

 

Net

 

Completed technology

 

$

1,151

 

 

$

 

 

$

(303

)

 

$

4

 

 

$

852

 

Customer relationships

 

 

2,072

 

 

 

(1

)

 

 

(190

)

 

 

11

 

 

 

1,892

 

Patents, trademarks, trade names and other

 

 

498

 

 

 

 

 

 

(71

)

 

 

2

 

 

 

429

 

 

 

$

3,721

 

 

$

(1

)

 

$

(564

)

 

$

17

 

 

$

3,173

 

Estimated Net Amortization Expense Aggregate net amortization expense related to acquired intangible assets for future years is:

Year

 

Amount

 

2024

 

$

251

 

2025

 

 

250

 

2026

 

 

246

 

2027

 

 

245

 

2028

 

 

245

 

Thereafter

 

 

1,326