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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2026
Intangible Asset, Goodwill and Other [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Changes in the carrying amount of goodwill consisted of the following:
Industrial OperationsEnergy OperationsManufacturing OperationsTotal
(In thousands)
Balance at December 31, 2025$7,541 $1,449 $16,800 $25,790 
Effect of foreign currency translation— — (55)(55)
Impairment losses— — — — 
Balance at March 31, 2026$7,541 $1,449 $16,745 $25,735 
The ending balance of goodwill includes no accumulated impairment losses to date. Refer to Note 1 for additional information related to the Printronix, Benchmark and Deflecto acquisitions.
Other intangible assets, net consisted of the following:
March 31, 2026
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations5 years$368,153 $(356,473)$11,680 
Industrial operations7 years3,400 (2,176)1,224 
Total patents371,553 (358,649)12,904 
Customer relationships:
Industrial operations7 years5,300 (3,392)1,908 
Manufacturing operations15 years21,843 (2,084)19,759 
Total customer relationships27,143 (5,476)21,667 
Trade name and trademarks:
Industrial operations7 years3,430 (2,195)1,235 
Manufacturing operations10 years399 (59)340 
Manufacturing operationsIndefinite8,073 — 8,073 
Total trade name and trademarks11,902 (2,254)9,648 
Developed technology - manufacturing operations10 years1,000 (145)855 
Favorable leases - manufacturing operations1.9 years419 (199)220 
Total$412,017 $(366,723)$45,294 
December 31, 2025
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations5 years$366,402 $(352,713)$13,689 
Industrial operations7 years3,400 (2,055)1,345 
Total patents369,802 (354,768)15,034 
Customer relationships:
Industrial operations7 years5,300 (3,203)2,097 
Manufacturing operations15 years21,830 (1,702)20,128 
Total customer relationships27,130 (4,905)22,225 
Trade name and trademarks:
Industrial operations7 years3,430 (2,072)1,358 
Manufacturing operations10 years401 (49)352 
Manufacturing operationsIndefinite8,043 — 8,043 
Total trade name and trademarks11,874 (2,121)9,753 
Developed technology - manufacturing operations10 years1,000 (120)880 
Favorable leases - manufacturing operations1.9 years705 (449)256 
Total$410,511 $(362,363)$48,148 
Total other intangible asset amortization expense in the consolidated statements of operations and comprehensive income (loss) was $4.6 million and $5.4 million for the three months ended March 31, 2026 and 2025, respectively. The Company did not record charges related to impairment of other intangible assets for the three months ended March 31, 2026 and 2025. There was no accelerated amortization of other intangible assets for the three months ended March 31, 2026 and 2025. Intellectual Property Operations amortization of patents was $3.8 million and $4.5 million for the three months ended March 31, 2026 and 2025, respectively. Intellectual Property Operations amortization of patents is expensed in cost of revenues. Industrial Operations amortization of intangible assets was $433,000 and $435,000 for the three months ended March 31, 2026 and 2025, respectively. Manufacturing Operations amortization of intangible assets was $442,000 and $472,000 for the three months ended March 31, 2026 and 2025, respectively. Industrial Operations and Manufacturing Operations amortization of intangible assets is expensed in general and administrative expenses.
On November 21, 2025, Deflecto sold certain specified assets exclusively used in its floor protection business, including contracts, customer lists, vendor lists, certain specified trademarks and patents and a specified list of equipment, pursuant to an asset purchase agreement. The total consideration was $2.99 million. The acquisition agreement provides for additional consideration in the form of an earnout, based on the achievement of specified revenue targets during the post-closing period. Because the amount of the obligation could not be reasonably estimated as of the acquisition date, no amount related to contingent consideration was included in the purchase price. The Company will recognize any contingent consideration as a gain in the period in which the contingency is resolved and the consideration becomes realizable. The carrying value of the disposed property, equipment and inventory was $1.5 million and trademarks and patents was $1.3 million. The Company recognized a loss on sale of $91,000 during the year ended December 31, 2025 included in other income (expense), net in the consolidated statements of operations and comprehensive income (loss).
The following table presents the scheduled annual aggregate amortization expense (in thousands):
Years Ending December 31,
Remainder of 2026$6,989 
20279,303 
20284,405 
20291,611 
20301,611 
20311,611 
Thereafter11,691 
Total$37,221 
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 were included in prepaid expenses and other current assets in the consolidated balance sheet as of December 31, 2024. During the year ended December 31, 2025, ARG exercised the option to acquire all rights to license and enforce the portfolio and capitalized $15.0 million in patent and patent rights costs. During the three months ended March 31, 2026, ARG paid $1.8 million for additional rights in an existing patent portfolio.