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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The following table sets forth the gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of March 31, 2024 and December 31, 2023:
| March 31, 2024
(in thousands) | Amortization life in years | Gross carrying amount | Accumulated amortization | Net carrying amount
Finite-lived assets: |  |  |  |
AEC Trademarks and trade names | 6-15 | $ | 208 |  | $ | (189) |  | $ | 19 |
AEC Technology | 10-15 | 6,033 |  | (2,824) |  | 3,209 |
AEC Intellectual property | 15 | 1,250 |  | (360) |  | 890 |
AEC Customer relationships | 8-15 | 69,290 |  | (44,721) |  | 24,569 |
Heimbach Developed technology | 9 | 8,789 |  | (572) |  | 8,217 |
Total Finite-lived intangible assets |  | $ | 85,570 |  | $ | (48,666) |  | $ | 36,904 |
Indefinite-lived intangible assets: |  |  |  |
Heimbach Trade name |  | $ | 5,935 |  | $ | — |  | $ | 5,935 |
MC Goodwill |  | 65,785 |  | — |  | 65,785 |
AEC Goodwill |  | 112,919 |  | — |  | 112,919 |
Total Indefinite-lived intangible assets: |  | $ | 184,639 |  | $ | — |  | $ | 184,639 |
| December 31, 2023
(in thousands) | Amortization life in years | Gross carrying amount | Accumulated amortization | Net carrying amount
Finite-lived assets: |  |  |  |
AEC Trademarks and trade names | 6-15 | $ | 208 |  | $ | (186) |  | $ | 22 |
AEC Technology | 10-15 | 6,161 |  | (2,735) |  | 3,426 |
AEC Intellectual property | 15 | 1,250 |  | (339) |  | 911 |
AEC Customer relationships | 8-15 | 69,360 |  | (43,875) |  | 25,485 |
Heimbach Developed technology | 9 | 9,042 |  | (310) |  | 8,732 |
Total Finite-lived assets |  | $ | 86,021 |  | $ | (47,445) |  | $ | 38,576 |
Indefinite-lived intangible assets: |  |  |  |
Heimbach Trade name |  | $ | 6,070 |  | $ | — |  | $ | 6,070 |
MC Goodwill |  | 66,873 |  | — |  | 66,873 |
AEC Goodwill |  | 113,308 |  | — |  | 113,308 |
Total Indefinite-lived intangible assets: |  | $ | 186,251 |  | $ | — |  | $ | 186,251 |
The changes in intangible assets, net and goodwill from December 31, 2023 to March 31, 2024, were as follows:
(in thousands) | December 31, 2023 | Other Changes | Amortization | Currency Translation | March 31, 2024
Finite-lived intangible assets: |  |  |  |  |
AEC Trademarks and trade names | $ | 22 |  | $ | — |  | $ | (3) |  | $ | — |  | $ | 19 |
AEC Technology | 3,426 |  | — |  | (142) |  | (75) |  | 3,209 |
AEC Intellectual property | 911 |  | — |  | (21) |  | — |  | 890 |
AEC Customer relationships | 25,485 |  | — |  | (870) |  | (46) |  | 24,569 |
Heimbach Developed technology | 8,732 |  | — |  | (262) |  | (253) |  | 8,217 |
Total Finite-lived intangible assets | $ | 38,576 |  | $ | — |  | $ | (1,298) |  | $ | (374) |  | $ | 36,904 |
Indefinite-lived intangible assets: |  |  |  |  |
Heimbach Trade name | $ | 6,070 |  | $ | — |  | $ | — |  | $ | (135) |  | $ | 5,935 |
MC Goodwill | 66,873 |  | — |  | — |  | (1,088) |  | 65,785 |
AEC Goodwill | 113,308 |  | — |  | — |  | (389) |  | 112,919 |
Total Indefinite-lived assets: | $ | 186,251 |  | $ | — |  | $ | — |  | $ | (1,612) |  | $ | 184,639 |

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