Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 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 September 30, 2024 and December 31, 2023:

	September 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	$	(194)	$	14
AEC Technology	10-15	6,226		(3,201)		3,025
AEC Intellectual property	15	1,250		(402)		848
AEC Customer relationships	8-15	69,395		(46,500)		22,895
Heimbach Developed technology	9	9,166		(1,090)		8,076
Total Finite-lived intangible assets		$	86,245	$	(51,387)	$	34,858
Indefinite-lived intangible assets:
Heimbach Trade name		$	6,138	$	—	$	6,138
MC Goodwill		67,407		—		67,407
AEC Goodwill		113,505		—		113,505
Total Indefinite-lived intangible assets:		$	187,050	$	—	$	187,050

	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 September 30, 2024, were as follows:

(in thousands)	December 31, 2023		Other Changes		Amortization		Currency Translation		September 30, 2024
Finite-lived intangible assets:
AEC Trademarks and trade names	$	22	$	—	$	(8)	$	—	$	14
AEC Technology	3,426		—		(428)		27		3,025
AEC Intellectual property	911		—		(63)		—		848
AEC Customer relationships	25,485		—		(2,611)		21		22,895
Heimbach Developed technology	8,732		—		(767)		111		8,076
Total Finite-lived intangible assets	$	38,576	$	—	$	(3,877)	$	159	$	34,858
Indefinite-lived intangible assets:
Heimbach Trade name	$	6,070	$	—	$	—	$	68	$	6,138
MC Goodwill	66,873		—		—		534		67,407
AEC Goodwill	113,308		—		—		197		113,505
Total Indefinite-lived assets:	$	186,251	$	—	$	—	$	799	$	187,050