XML 366 R22.htm IDEA: XBRL DOCUMENT v3.24.0.1
Goodwill and Other Intangibles
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles Goodwill and Other Intangibles:
The following table summarizes the changes in goodwill by reportable segment for the years ended December 31, 2023 and 2022 (in thousands):
Energy StorageSpecialtiesKetjenTotal
Balance at December 31, 2021
$1,394,182 $20,319 $183,126 $1,597,627 
Acquisitions(a)
76,105 — — 76,105 
Foreign currency translation adjustments and other(46,012)— (10,093)(56,105)
Balance at December 31, 2022
1,424,275 20,319 173,033 1,617,627 
Change in ownership interest(b)
(6,058)— — (6,058)
Segment realignment(c)
(12,316)12,316 — — 
Impairment loss(d)
— — (6,765)(6,765)
Foreign currency translation adjustments and other18,583 4 6,338 24,925 
Balance at December 31, 2023(e)
$1,424,484 $32,639 $172,606 $1,629,729 

(a)    Represents purchase price adjustments for the Qinzhou acquisition. See Note 2, “Acquisitions,” for additional information.
(b)    Represents the reduction of goodwill associated with the proportionately consolidated MARBL joint venture. On October 18, 2023, we completed the restructuring the MARBL joint venture, which reduced the Company’s ownership percentage from 60% to 50%. See Note 10, “Investments,” for further details.
(c)    Effective January 1, 2023, the Company realigned its Lithium and Bromine reportable segments into the Energy Storage and Specialties reportable segments. See Note 25, “Segment and Geographic Area Information,” for additional details. As a result, the Company transferred goodwill from its legacy Lithium segment to the new Specialties reportable segment during the year ended December 31, 2023.
(d)    During the year ended December 31, 2023, the Company recorded an impairment loss for the remaining balance of its goodwill associated with its PCS business within the Ketjen segment. See Note 1, “Summary of Significant Accounting Policies,” for further details.
(e)    Balance at December 31, 2023 includes an accumulated impairment loss of $6.8 million in Ketjen. As a result, the balance of Ketjen as of December 31, 2023 fully consists of goodwill related to the Refining Solutions reporting unit.
Other intangibles consist of the following at December 31, 2023 and 2022 (in thousands):
Customer Lists and Relationships
Trade Names and Trademarks(b)
Patents and TechnologyOtherTotal
Gross Asset Value
Balance at December 31, 2021
$428,379 $17,883 $57,313 $36,705 $540,280 
Acquisitions(a)
6,000 — 8,300 2,030 16,330 
    Retirements— (4,253)(16,206)(5,844)(26,303)
Foreign currency translation adjustments and other(21,709)(469)(3,008)2,295 (22,891)
Balance at December 31, 2022
412,670 13,161 46,399 35,186 507,416 
Foreign currency translation adjustments and other5,133 244 (112)(537)4,728 
Balance at December 31, 2023
$417,803 $13,405 $46,287 $34,649 $512,144 
Accumulated Amortization
Balance at December 31, 2021
$(163,283)$(7,983)$(39,796)$(20,271)$(231,333)
Amortization(22,144)— (1,649)(914)(24,707)
    Retirements— 4,253 16,206 5,844 26,303 
Foreign currency translation adjustments and other7,800 143 1,449 799 10,191 
Balance at December 31, 2022
(177,627)(3,587)(23,790)(14,542)(219,546)
Amortization(24,510)— (2,563)(953)(28,026)
Foreign currency translation adjustments and other(2,344)(86)(405)121 (2,714)
Balance at December 31, 2023
$(204,481)$(3,673)$(26,758)$(15,374)$(250,286)
Net Book Value at December 31, 2022
$235,043 $9,574 $22,609 $20,644 $287,870 
Net Book Value at December 31, 2023
$213,322 $9,732 $19,529 $19,275 $261,858 

(a)Represents purchase price adjustments for the Qinzhou acquisition. See Note 2, “Acquisitions,” for additional information.
(b)Net Book Value includes only indefinite-lived intangible assets.
Useful lives range from 13 – 25 years for customer lists and relationships; 8 – 20 years for patents and technology; and primarily 5 – 25 years for other.
Amortization of other intangibles amounted to $28.0 million, $24.7 million and $25.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. Included in amortization for the years ended December 31, 2023, 2022 and 2021 is $16.7 million, $17.2 million and $19.3 million, respectively, of amortization using the pattern of economic benefit method.
Total estimated amortization expense of other intangibles for the next five fiscal years is as follows (in thousands):
Estimated Amortization Expense
2024$29,583 
2025$29,046 
2026$28,525 
2027$28,024 
2028$27,534