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Goodwill and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Goodwill | The following table sets forth the gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of June 30, 2024 and December 31, 2023:
| June 30, 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 |  | $ | (192) |  | $ | 16 |
AEC Technology | 10-15 | 5,993 |  | (2,947) |  | 3,046 |
AEC Intellectual property | 15 | 1,250 |  | (381) |  | 869 |
AEC Customer relationships | 8-15 | 69,268 |  | (45,583) |  | 23,685 |
Heimbach Developed technology | 9 | 8,798 |  | (802) |  | 7,996 |
Total Finite-lived intangible assets |  | $ | 85,517 |  | $ | (49,905) |  | $ | 35,612 |
Indefinite-lived intangible assets: |  |  |  |
Heimbach Trade name |  | $ | 5,893 |  | $ | — |  | $ | 5,893 |
MC Goodwill |  | 65,440 |  | — |  | 65,440 |
AEC Goodwill |  | 112,796 |  | — |  | 112,796 |
Total Indefinite-lived intangible assets: |  | $ | 184,129 |  | $ | — |  | $ | 184,129 |
| 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 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The changes in intangible assets, net and goodwill from December 31, 2023 to June 30, 2024, were as follows:
(in thousands) | December 31, 2023 | Other Changes | Amortization | Currency Translation | June 30, 2024
Finite-lived intangible assets: |  |  |  |  |
AEC Trademarks and trade names | $ | 22 |  | $ | — |  | $ | (6) |  | $ | — |  | $ | 16 |
AEC Technology | 3,426 |  | — |  | (283) |  | (97) |  | 3,046 |
AEC Intellectual property | 911 |  | — |  | (42) |  | — |  | 869 |
AEC Customer relationships | 25,485 |  | — |  | (1,740) |  | (60) |  | 23,685 |
Heimbach Developed technology | 8,732 |  | — |  | (492) |  | (244) |  | 7,996 |
Total Finite-lived intangible assets | $ | 38,576 |  | $ | — |  | $ | (2,563) |  | $ | (401) |  | $ | 35,612 |
Indefinite-lived intangible assets: |  |  |  |  |
Heimbach Trade name | $ | 6,070 |  | $ | — |  | $ | — |  | $ | (177) |  | $ | 5,893 |
MC Goodwill | 66,873 |  | — |  | — |  | (1,433) |  | 65,440 |
AEC Goodwill | 113,308 |  | — |  | — |  | (512) |  | 112,796 |
Total Indefinite-lived assets: | $ | 186,251 |  | $ | — |  | $ | — |  | $ | (2,122) |  | $ | 184,129 |

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