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Goodwill and Other Intangibles | 12 Months Ended
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Dec. 31, 2024
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, 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 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. 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 $23.0 million, $28.0 million and $24.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. Included in amortization for the years ended December 31, 2024, 2023 and 2022 is $16.1 million, $16.7 million and $17.2 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
2025 | $ | 23,554 |
2026 | $ | 22,095 |
2027 | $ | 20,499 |
2028 | $ | 19,621 |
2029 | $ | 18,091 |

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