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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of 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.”
Schedule of Finite-Lived 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