Goodwill and Other Intangibles (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The following table summarizes the changes in goodwill by reportable segment for the nine-month period ended September 30, 2025 (in thousands):

	Energy Storage		Specialties		Ketjen		Total
Balance at December 31, 2024(a)	$	1,387,591	$	32,577	$	162,546	$	1,582,714
Impairment charges(b)	—		—		(181,070)		(181,070)
Foreign currency translation adjustments	70,634		67		18,524		89,225
Balance at September 30, 2025(c)	$	1,458,225	$	32,644	$	—	$	1,490,869

(a)    Balance at December 31, 2024 included an accumulated impairment loss of $6.8 million from the Performance Catalyst Solutions reporting unit within the Ketjen segment. As a result, the balance of Ketjen goodwill at December 31, 2024 fully consisted of goodwill related to the Refining Solutions reporting unit.

(b)    During the three months ended September 30, 2025, the Company made significant progress on the potential divestiture of the Refining Solutions reporting unit. The progression of related discussions indicated it was more likely than not that the fair value of the Refining Solutions reporting unit was less than its carrying value as of September 30, 2025. Accordingly, the Company performed an interim goodwill impairment test as of that date. Subsequent to the balance sheet date, the Company entered into definitive agreements on October 23, 2025 and October 25, 2025 to divest its 50% ownership interest in Eurecat S.A., a joint venture within the Refining Solutions reporting unit, and to divest the controlling ownership interest in the remaining Refining Solutions business, respectively (see Note 20, "Subsequent Events," for further details). The agreed upon transaction prices in these agreements corroborate the conclusion reached in the interim impairment analysis that the carrying value of the Refining Solutions reporting unit exceeded its fair value as of September 30, 2025. As a result, the Company recorded a $181.1 million non-cash goodwill impairment charge, representing the full value of goodwill associated with the Refining Solutions reporting unit within the Ketjen segment.

(c)    Balance at September 30, 2025 included an accumulated impairment loss of $187.9 million from the Refining Solutions and Performance Catalyst Solutions reporting units within the Ketjen segment.

Other Intangibles

The following table summarizes the changes in other intangibles and related accumulated amortization for the nine-month period ended September 30, 2025 (in thousands):

	Customer Lists and Relationships		Trade Names and Trademarks(a)		Patents and Technology		Other		Total
Gross Asset Value
Balance at December 31, 2024	$	402,012	$	10,670	$	32,265	$	29,010	$	473,957
Foreign currency translation adjustments and other	26,722		599		2,910		809		31,040
Balance at September 30, 2025	$	428,734	$	11,269	$	35,175	$	29,819	$	504,997
Accumulated Amortization
Balance at December 31, 2024	$	(216,231)	$	(1,324)	$	(14,253)	$	(11,396)	$	(243,204)
Amortization	(14,312)		—		(1,957)		(716)		(16,985)
Foreign currency translation adjustments and other	(14,189)		—		(453)		(217)		(14,859)
Balance at September 30, 2025	$	(244,732)	$	(1,324)	$	(16,663)	$	(12,329)	$	(275,048)
Net Book Value at December 31, 2024	$	185,781	$	9,346	$	18,012	$	17,614	$	230,753
Net Book Value at September 30, 2025	$	184,002	$	9,945	$	18,512	$	17,490	$	229,949

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