Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2023

Intangible Assets and Goodwill

Schedule of Intangible assets

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of September 30, 2023 were as follows (in thousands):

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization		Total
Acquired technology	14 years	$	104,159		(18,471)	$	85,688
Dry stack electrolyzer technology	10 years		29,000		(4,592)		24,408
Customer relationships, trade name and other	13 years		102,193		(19,112)		83,081
		$	235,352	$	(42,175)	$	193,177

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2022 were as follows (in thousands):

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization		Total
Acquired technology	14 years	$	104,221	$	(12,754)	$	91,467
Dry stack electrolyzer technology	10 years		29,000		(2,417)		26,583
Customer relationships, trade name and other	13 years		102,521		(12,846)		89,675
		$	235,742	$	(28,017)	$	207,725

Schedule of future amortization of intangible assets

The estimated amortization expense for subsequent years is as follows (in thousands):

Remainder of 2023	$	4,749
2024		18,929
2025		18,163
2026		16,605
2027		16,597
2028 and thereafter		118,134
Total	$	193,177

Schedule of changes in the carrying amount of goodwill

The change in the carrying amount of goodwill for the nine months ended September 30, 2023 was as follows (in thousands):

Beginning balance at December 31, 2022	$	248,607
Foreign currency translation adjustment		(584)
Ending balance at September 30, 2023	$	248,023