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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
Changes in the carrying amount of goodwill, by operating segment, for the years ended December 31, 2024 and 2023 were as follows (in thousands):
Offshore Manufactured
Products
Downhole TechnologiesTotal
Balance as of December 31, 2022(1)
$79,282 — 79,282 
Foreign currency translation585 — 585 
Balance as of December 31, 2023(1)
79,867 — 79,867 
Goodwill associated with transferred operations(2)
(10,000)10,000 — 
Impairment of goodwill(2)
— (10,000)(10,000)
Foreign currency translation(158)— (158)
Balance as of December 31, 2024(1)
$69,709 $— $69,709 
____________________
(1)Net of accumulated impairment losses of $96.5 million as of December 31, 2024 and $86.5 million as of December 31, 2023 and 2022.
(2)For further discussion, see Note 2 “Summary of Significant Accounting Policies.”
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, 2024 and 2023 (in thousands):
20242023
Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying AmountGross
Carrying
Amount		Accumulated
Amortization		Net Carrying Amount
Other intangible assets:
Customer relationships$122,859 $55,534 $67,325 $141,342 $56,499 $84,843 
Patents/Technology/Know-how70,206 39,699 30,507 70,113 34,541 35,572 
Tradenames and other47,729 19,699 28,030 52,505 19,910 32,595 
$240,794 $114,932 $125,862 $263,960 $110,950 $153,010 
Amortization expense was $16.4 million, $17.2 million and $20.3 million in the years ended December 31, 2024, 2023 and 2022, respectively. The weighted average remaining amortization period for finite-lived intangible assets was 9.5 years as of December 31, 2024 and 10.0 years as of December 31, 2023. Amortization expense is expected to total approximately $15 million in 2025 through 2027, $14 million in 2028 and $13 million in 2029.
As further discussed in Note 4, “Asset Impairments and Other Charges and Credits,” during 2024 the Company made a strategic decision to exit an underperforming service offering within the Completion and Production Services segment. As a result of this action, the segment recognized non-cash impairment charges of $9.1 million related to customer relationships and $1.7 million related to tradenames. In 2023, no impairment of other intangible assets was required.