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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS, NET
The following table presents the changes in the carrying amount of goodwill for the three months ended March 31, 2025. The carrying amount of goodwill was $9.0 million as of March 31, 2024, and there were no changes in the carrying amount of goodwill during the three months ended March 31, 2024.
March 31, 2025
Industrial OperationsEnergy OperationsManufacturing OperationsTotal
(In thousands)
Beginning balance$7,541 $1,449 $20,349 $29,339 
Effect of foreign currency translation— — 56 56 
Measurement period adjustments— — (3,829)(3,829)
Ending balance$7,541 $1,449 $16,576 $25,566 
The ending balance of goodwill includes no accumulated impairment losses to date. Refer to Note 3 for additional information related to the Deflecto acquisition and measure period adjustments recorded during the three months ended March 31, 2025.
Other intangible assets, net consisted of the following:
March 31, 2025
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations5 years$366,402 $(336,730)$29,672 
Industrial operations7 years3,400 (1,691)1,709 
Total patents369,802 (338,421)31,381 
Customer relationships:
Industrial operations7 years5,300 (2,634)2,666 
Manufacturing operations15 years22,400 (667)21,733 
Total customer relationships27,700 (3,301)24,399 
Trade name and trademarks:
Industrial operations7 years3,430 (1,707)1,723 
Manufacturing operations10 years400 (18)382 
Manufacturing operationsIndefinite8,546 — 8,546 
Total trade name and trademarks12,376 (1,725)10,651 
Developed technology - manufacturing operations10 years1,000 (45)955 
Favorable leases - manufacturing operations1.9 years704 (351)353 
Total$411,582 $(343,843)$67,739 
December 31, 2024
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations6 years$351,403 $(332,211)$19,192 
Industrial operations7 years3,400 (1,568)1,832 
Total patents354,803 (333,779)21,024 
Customer relationships:
Industrial operations7 years5,300 (2,446)2,854 
Manufacturing operations15 years20,200 (269)19,931 
Total customer relationships25,500 (2,715)22,785 
Trade name and trademarks:
Industrial operations7 years3,430 (1,583)1,847 
Manufacturing operations10 years400 (8)392 
Manufacturing operationsIndefinite8,009 — 8,009 
Total trade name and trademarks11,839 (1,591)10,248 
Developed technology - manufacturing operations10 years1,000 (20)980 
Favorable leases - manufacturing operations1.9 years704 (312)392 
Total$393,846 $(338,417)$55,429 
Total other intangible asset amortization expense in the condensed consolidated statements of operations and comprehensive income (loss) was $5.4 million and $3.9 million for the three months ended March 31, 2025 and 2024, respectively. The Company did not record charges related to impairment of other intangible assets for the three months ended March 31, 2025 and 2024. There was no accelerated amortization of other intangible assets for the three months ended March 31, 2025 and 2024. Intellectual Property Operations amortization of patents was $4.5 million and $3.4 million for the three months ended March 31, 2025 and 2024, respectively, and is expensed in cost of revenues. Industrial Operations amortization of intangible assets was $435,000 and $433,000 for the three months ended March 31, 2025 and 2024, respectively. Manufacturing Operations amortization of intangible assets was $472,000 for the three months ended March 31, 2025. Industrial Operations and Manufacturing Operations amortization of intangible assets is expensed in general and administrative expenses.
The following table presents the scheduled annual aggregate amortization expense (in thousands):
Years Ending December 31,
Remainder of 2025$18,853 
202611,175 
20278,736 
20284,586 
20292,003 
20302,003 
Thereafter11,837 
Total$59,193 
During the year ended December 31, 2022, ARG entered into an agreement granting ARG the exclusive option to acquire all rights to license and enforce a patent portfolio and all future patents and patent applications, and incurred $15.0 million of certain patent and patent rights costs, which was fully paid in 2023. The patent costs are included in prepaid expenses and other current assets in the condensed consolidated balance sheet as of December 31, 2024. During the three months
ended March 31, 2025, ARG exercised the option to acquire all rights to license and enforce the portfolio an