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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
Changes in the carrying amount of goodwill recorded within the Offshore/Manufactured Products segment for the years ended December 31, 2023 and 2022 were as follows (in thousands):
Balance as of December 31, 2021(1)
$76,412 
Goodwill acquired4,146 
Foreign currency translation(1,276)
Balance as of December 31, 2022(1)
79,282 
Foreign currency translation585 
Balance as of December 31, 2023(1)
$79,867 
____________________
(1)Net of accumulated impairment losses of $86.5 million.
Other Intangible Assets
The following table presents the gross carrying amount and the related accumulated amortization for major intangible asset classes as of December 31, 2023 and 2022 (in thousands):
20232022
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying AmountGross
Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Other intangible assets:
Customer relationships$141,342 $56,499 $84,843 $141,179 $47,629 $93,550 
Patents/Technology/Know-how70,113 34,541 35,572 69,830 29,214 40,616 
Tradenames and other52,505 19,910 32,595 52,488 16,856 35,632 
$263,960 $110,950 $153,010 $263,497 $93,699 $169,798 
Amortization expense was $17.2 million, $20.3 million and $20.6 million in the years ended December 31, 2023, 2022 and 2021, respectively. The weighted average remaining amortization period for all intangible assets, other than goodwill, was 10.0 years as of December 31, 2023 and 10.6 years as of December 31, 2022. Amortization expense is expected to total approximately $17 million in 2024 through 2026, $16 million in 2027 and $15 million in 2028.
As of December 31, 2023 and 2022, no impairment of other intangible assets was required.