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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are as follows:
| FPD |  | FCD |  | Total
| (Amounts in thousands)
Balance as of December 31, 2022 | $ | 772,273 |  |  | $ | 395,851 |  |  | $ | 1,168,124 |
Currency translation and other | 7,723 |  |  | 6,378 |  |  | 14,101 |
Balance as of December 31, 2023 | $ | 779,996 |  |  | $ | 402,229 |  |  | $ | 1,182,225 |
Acquisition(1) | — |  |  | 127,249 |  |  | 127,249 |
Currency translation and other | (14,256) |  |  | (8,923) |  |  | (23,179) |
Balance as of December 31, 2024 | $ | 765,740 |  |  | $ | 520,555 |  |  | $ | 1,286,295 |
____________________________________ (1)Goodwill addition is related to the acquisition of MOGAS. See Note 2, "Acquisitions" for additional information. The following table provides information about our intangible assets for the years ended December 31, 2024 and 2023:
|  |  | December 31, 2024 |  | December 31, 2023
| Useful Life (Years) |  | Ending Gross Amount |  | Accumulated Amortization |  | Ending Gross Amount |  | Accumulated Amortization
| (Amounts in thousands, except years)
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Engineering drawings(1) | 10-22 |  | $ | 89,529 |  |  | $ | (89,529) |  |  | $ | 92,105 |  |  | $ | (91,808) |
Existing customer relationships(2) | 5-10 |  | 126,761 |  |  | (79,039) |  |  | 80,643 |  |  | (76,121) |
Patents | 9-16 |  | 25,086 |  |  | (25,086) |  |  | 26,388 |  |  | (26,388) |
Other | 1-40 |  | 102,634 |  |  | (58,800) |  |  | 92,307 |  |  | (55,001) |
|  |  | $ | 344,010 |  |  | $ | (252,454) |  |  | $ | 291,443 |  |  | $ | (249,318) |
Indefinite-lived intangible assets(3) |  |  | $ | 98,721 |  |  | $ | (1,673) |  |  | $ | 81,824 |  |  | $ | (1,701) |
____________________________________ (1)Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics. (2)Includes customer relationships acquired as part of the MOGAS acquisition with useful lives of 5 and 10 years. Existing customer relationships acquired prior to 2011 had a useful life of five years. (3)Includes the acquisition of the MOGAS trademark in 2024. Accumulated amortization for indefinite-lived intangible assets relates to amounts recorded prior to the implementation date of guidance issued in ASC 350. The following schedule outlines actual amortization expense recognized during 2024 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2024:
| Amortization Expense
| (Amounts in thousands)
Actual for year ended December 31, 2024 | $ | 10,023 |
Estimated for year ended December 31, 2025 | 15,476 |
Estimated for year ended December 31, 2026 | 7,069 |
Estimated for year ended December 31, 2027 | 7,069 |
Estimated for year ended December 31, 2028 | 7,069 |
Estimated for year ended December 31, 2029 | 6,952 |
Thereafter | 47,921 |
Amortization expense for finite-lived intangible assets was $11.3 million in 2023 and $11.4 million in 2022.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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