Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table sets forth the gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of June 30, 2024 and December 31, 2023:

	June 30, 2024
(in thousands)	Amortization  life in years	Gross carrying amount		Accumulated amortization		Net carrying amount
Finite-lived assets:
AEC Trademarks and trade names	6-15	$	208	$	(192)	$	16
AEC Technology	10-15	5,993		(2,947)		3,046
AEC Intellectual property	15	1,250		(381)		869
AEC Customer relationships	8-15	69,268		(45,583)		23,685
Heimbach Developed technology	9	8,798		(802)		7,996
Total Finite-lived intangible assets		$	85,517	$	(49,905)	$	35,612
Indefinite-lived intangible assets:
Heimbach Trade name		$	5,893	$	—	$	5,893
MC Goodwill		65,440		—		65,440
AEC Goodwill		112,796		—		112,796
Total Indefinite-lived intangible assets:		$	184,129	$	—	$	184,129

	December 31, 2023
(in thousands)	Amortization  life in years	Gross carrying amount		Accumulated amortization		Net carrying amount
Finite-lived assets:
AEC Trademarks and trade names	6-15	$	208	$	(186)	$	22
AEC Technology	10-15	6,161		(2,735)		3,426
AEC Intellectual property	15	1,250		(339)		911
AEC Customer relationships	8-15	69,360		(43,875)		25,485
Heimbach Developed technology	9	9,042		(310)		8,732
Total Finite-lived assets		$	86,021	$	(47,445)	$	38,576
Indefinite-lived intangible assets:
Heimbach Trade name		$	6,070	$	—	$	6,070
MC Goodwill		66,873		—		66,873
AEC Goodwill		113,308		—		113,308
Total Indefinite-lived intangible assets:		$	186,251	$	—	$	186,251

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The changes in intangible assets, net and goodwill from December 31, 2023 to June 30, 2024, were as follows:

(in thousands)	December 31, 2023		Other Changes		Amortization		Currency Translation		June 30, 2024
Finite-lived intangible assets:
AEC Trademarks and trade names	$	22	$	—	$	(6)	$	—	$	16
AEC Technology	3,426		—		(283)		(97)		3,046
AEC Intellectual property	911		—		(42)		—		869
AEC Customer relationships	25,485		—		(1,740)		(60)		23,685
Heimbach Developed technology	8,732		—		(492)		(244)		7,996
Total Finite-lived intangible assets	$	38,576	$	—	$	(2,563)	$	(401)	$	35,612
Indefinite-lived intangible assets:
Heimbach Trade name	$	6,070	$	—	$	—	$	(177)	$	5,893
MC Goodwill	66,873		—		—		(1,433)		65,440
AEC Goodwill	113,308		—		—		(512)		112,796
Total Indefinite-lived assets:	$	186,251	$	—	$	—	$	(2,122)	$	184,129