Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in carrying value of goodwill allocated to our reportable segments during the nine months ended September 30, 2023 was as follows:

	Pressure Control		Spoolable Technologies		Total
Balance at December 31, 2022	$	7,824	$	—	$	7,824
FlexSteel acquisition	—		192,899		192,899
Balance at September 30, 2023	$	7,824	$	192,899	$	200,723

Summary of Total Intangible Assets

The following table presents the detail of acquired intangible assets other than goodwill as of September 30, 2023:

	Gross Cost		Accumulated Amortization		Net Cost
Customer relationships	$	100,300	$	(3,901)	$	96,399
Developed technology	77,000		(4,492)		72,508
Tradename	16,000		(933)		15,067
Backlog	7,000		(7,000)		—
Total	$	200,300	$	(16,326)	$	183,974

Summary of Future Amortization

Estimated future amortization expense is as follows:

Remainder of 2023	$	3,997
2024	15,987
2025	15,987
2026	15,987
2027	15,987
2028	15,987
Thereafter	100,042
Total	$	183,974