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Goodwill and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 and December 31, 2023:
| September 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 |  | $ | (194) |  | $ | 14 |
AEC Technology | 10-15 | 6,226 |  | (3,201) |  | 3,025 |
AEC Intellectual property | 15 | 1,250 |  | (402) |  | 848 |
AEC Customer relationships | 8-15 | 69,395 |  | (46,500) |  | 22,895 |
Heimbach Developed technology | 9 | 9,166 |  | (1,090) |  | 8,076 |
Total Finite-lived intangible assets |  | $ | 86,245 |  | $ | (51,387) |  | $ | 34,858 |
Indefinite-lived intangible assets: |  |  |  |
Heimbach Trade name |  | $ | 6,138 |  | $ | — |  | $ | 6,138 |
MC Goodwill |  | 67,407 |  | — |  | 67,407 |
AEC Goodwill |  | 113,505 |  | — |  | 113,505 |
Total Indefinite-lived intangible assets: |  | $ | 187,050 |  | $ | — |  | $ | 187,050 |
| 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 September 30, 2024, were as follows:
(in thousands) | December 31, 2023 | Other Changes | Amortization | Currency Translation | September 30, 2024
Finite-lived intangible assets: |  |  |  |  |
AEC Trademarks and trade names | $ | 22 |  | $ | — |  | $ | (8) |  | $ | — |  | $ | 14 |
AEC Technology | 3,426 |  | — |  | (428) |  | 27 |  | 3,025 |
AEC Intellectual property | 911 |  | — |  | (63) |  | — |  | 848 |
AEC Customer relationships | 25,485 |  | — |  | (2,611) |  | 21 |  | 22,895 |
Heimbach Developed technology | 8,732 |  | — |  | (767) |  | 111 |  | 8,076 |
Total Finite-lived intangible assets | $ | 38,576 |  | $ | — |  | $ | (3,877) |  | $ | 159 |  | $ | 34,858 |
Indefinite-lived intangible assets: |  |  |  |  |
Heimbach Trade name | $ | 6,070 |  | $ | — |  | $ | — |  | $ | 68 |  | $ | 6,138 |
MC Goodwill | 66,873 |  | — |  | — |  | 534 |  | 67,407 |
AEC Goodwill | 113,308 |  | — |  | — |  | 197 |  | 113,505 |
Total Indefinite-lived assets: | $ | 186,251 |  | $ | — |  | $ | — |  | $ | 799 |  | $ | 187,050 |

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