Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The following table summarizes the changes in goodwill by reportable segment for the years ended December 31, 2024 and 2023 (in thousands):

	Energy Storage		Specialties		Ketjen		Total
Balance at December 31, 2022	$	1,424,275	$	20,319	$	173,033	$	1,617,627
Change in ownership interest(a)	(6,058)		—		—		(6,058)
Segment realignment(b)	(12,316)		12,316		—		—
Impairment loss(c)	—		—		(6,765)		(6,765)
Foreign currency translation adjustments and other	18,583		4		6,338		24,925
Balance at December 31, 2023(d)	1,424,484		32,639		172,606		1,629,729
Foreign currency translation adjustments	(36,893)		(62)		(10,060)		(47,015)
Balance at December 31, 2024(d)	$	1,387,591	$	32,577	$	162,546	$	1,582,714

(a)    Represents the reduction of goodwill associated with the proportionately consolidated MARBL joint venture. On October 18, 2023, we completed the restructuring of the MARBL joint venture, which reduced the Company’s ownership percentage from 60% to 50%. See Note 8, “Investments,” for further details.

(b)    Effective January 1, 2023, the Company realigned its Lithium and Bromine reportable segments into the Energy Storage and Specialties reportable segments. 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.

(c)    During the year ended December 31, 2023, the Company recorded an impairment loss for the remaining balance of its goodwill associated with its PCS reporting unit within the Ketjen segment. See Note 1, “Summary of Significant Accounting Policies,” for further details.

(d)    Balance as of December 31, 2024 and 2023 includes an accumulated impairment loss of $6.8 million from the PCS reporting unit within the Ketjen segment. As a result, the balance of Ketjen as of December 31, 2024 and 2023 fully consists of goodwill related to the Refining Solutions reporting unit.

Other Intangibles

Other intangibles consist of the following at December 31, 2024 and 2023 (in thousands):

	Customer Lists and Relationships		Trade Names and Trademarks(a)		Patents and Technology		Other		Total
Gross Asset Value
Balance at December 31, 2022	$	412,670	$	13,161	$	46,399	$	35,186	$	507,416
Foreign currency translation adjustments and other	5,133		244		(112)		(537)		4,728
Balance at December 31, 2023	417,803		13,405		46,287		34,649		512,144
Retirements	—		(2,309)		(14,506)		(4,449)		(21,264)
Foreign currency translation adjustments and other	(15,791)		(426)		484		(1,190)		(16,923)
Balance at December 31, 2024	$	402,012	$	10,670	$	32,265	$	29,010	$	473,957
Accumulated Amortization
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)
Amortization	(19,570)		—		(2,549)		(917)		(23,036)
Retirements	—		2,309		14,506		4,449		21,264
Foreign currency translation adjustments and other	7,820		40		548		446		8,854
Balance at December 31, 2024	$	(216,231)	$	(1,324)	$	(14,253)	$	(11,396)	$	(243,204)
Net Book Value at December 31, 2023	$	213,322	$	9,732	$	19,529	$	19,275	$	261,858
Net Book Value at December 31, 2024	$	185,781	$	9,346	$	18,012	$	17,614	$	230,753

(a)Net Book Value includes only indefinite-lived intangible assets.

Total Estimated Amortization Expense of Other Intangibles for Next Five Fiscal Years

Total estimated amortization expense of other intangibles for the next five fiscal years is as follows (in thousands):

	Estimated Amortization Expense
2025	$	23,554
2026	$	22,095
2027	$	20,499
2028	$	19,621
2029	$	18,091