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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill

The changes in the carrying amount of goodwill and accumulated impairment losses were as follows:

 

 

2024

 

 

2023

 

 

 

Gross Carrying Amount

 

 

Accumulated Impairment Loss

 

 

Net

 

 

Gross Carrying Amount

 

 

Accumulated Impairment Loss

 

 

Net

 

Beginning balance at January 1

 

$

4,387

 

 

$

(1,833

)

 

$

2,554

 

 

$

4,454

 

 

$

(146

)

 

$

4,308

 

Impairment of goodwill

 

 

—

 

 

 

 

 

 

—

 

 

 

—

 

 

 

(1,687

)

 

 

(1,687

)

Acquired goodwill

 

 

—

 

 

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Foreign currency translation and measurement period adjustments

 

 

(75

)

 

 

 

 

 

(75

)

 

 

(67

)

 

 

—

 

 

 

(67

)

Ending balance at December 31

 

$

4,312

 

 

$

(1,833

)

 

$

2,479

 

 

$

4,387

 

 

$

(1,833

)

 

$

2,554

 
Summary Quantitative Assessment

This quantitative assessment during the quarter ended June 30, 2023 resulted in the following:

Reporting Unit

 

Goodwill Impairment

 

 

Remaining Goodwill

 

Electronics

 

$

826

 

 

$

1,420

 

General Metal Finishing

 

 

428

 

 

 

307

 

Equipment Solutions Business

 

 

372

 

 

 

100

 

This quantitative assessment during the quarter ended December 31, 2023 resulted in the following:

Reporting Unit

 

Goodwill Impairment

 

 

Remaining Goodwill

 

Electronics

 

$

48

 

 

$

1,401

 

Equipment Solutions

 

 

13

 

 

 

87

 
Intangible Assets

Intangible Assets

The Company’s intangible assets are comprised of the following:

As of December 31, 2024

 

Gross

 

 

Accumulated
 Impairment Charges

 

 

Accumulated Amortization

 

 

Foreign Currency
 Translation

 

 

Net

 

Completed technology

 

$

1,268

 

 

$

(152

)

 

$

(496

)

 

$

(31

)

 

$

589

 

Customer relationships

 

 

2,072

 

 

 

(1

)

 

 

(477

)

 

 

(86

)

 

 

1,508

 

Patents, trademarks, trade names and other

 

 

381

 

 

 

(63

)

 

 

(130

)

 

 

(13

)

 

 

175

 

 

 

$

3,721

 

 

$

(216

)

 

$

(1,103

)

 

$

(130

)

 

$

2,272

 

 

As of December 31, 2023

 

Gross

 

 

Accumulated Impairment
Charges

 

 

Accumulated
Amortization

 

 

Foreign
Currency
Translation and Measurement Period Adjustments

 

 

Net

 

Completed technology

 

$

1,268

 

 

$

(152

)

 

$

(405

)

 

$

(4

)

 

$

707

 

Customer relationships

 

 

2,072

 

 

 

(1

)

 

 

(335

)

 

 

(17

)

 

 

1,719

 

Patents, trademarks, trade names and other

 

 

381

 

 

 

(63

)

 

 

(118

)

 

 

(7

)

 

 

193

 

 

 

$

3,721

 

 

$

(216

)

 

$

(858

)

 

$

(28

)

 

$

2,619

 

 

During the twelve months ended December 31, 2023, $117 of IPR&D included with patents, trademarks, trade names and other was reclassified into completed technology.
Estimated Amortization Expense Aggregate amortization expense related to acquired intangible assets for future years is:

Year

 

Amount

 

2025

 

 

243

 

2026

 

 

239

 

2027

 

 

238

 

2028

 

 

238

 

2029

 

 

235

 

Thereafter

 

 

1,023