Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2023 are as follows (in thousands):

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization		Total
Acquired technology	14 years	$	103,060	$	(20,204)	$	82,856
Dry stack electrolyzer technology	10 years		29,000		(5,317)		23,683
Customer relationships, trade name and other	13 years		103,981		(21,634)		82,347
		$	236,041	$	(47,155)	$	188,886

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2022 are 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

Estimated amortization expense for subsequent years was as follows (in thousands):

2024	$	18,955
2025		18,174
2026		16,564
2027		16,556
2028		47,901
2029 and thereafter		70,736
Total	$	188,886

Schedule of changes in the carrying amount of goodwill

The change in the carrying amount of goodwill for the year ended December 31, 2023 was as follows (in thousands):

Beginning balance at December 31, 2022	$	248,607
Impairment of goodwill		(249,480)
Foreign currency translation adjustment		873
Ending balance at December 31, 2023	$	-