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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The change in the carrying value of goodwill by segment is as follows (in thousands):
| Total |  | Measurement Systems |  | Weighing Solutions
|  |  | KELK Acquisition |  | DSI Acquisition |  |  |  | DTS Acquisition |  | Stress-Tek Acquisition
Balance at January 1, 2022 | $ | 45,830 |  |  | $ | 6,706 |  |  | $ | 16,910 |  |  |  |  | $ | 15,903 |  |  | $ | 6,311 |
Adjustment to goodwill acquired | 130 |  |  | — |  |  | — |  |  |  |  | 130 |  |  | — |
Foreign currency translation adjustment | (416) |  |  | (393) |  |  | (23) |  |  |  |  | — |  |  | — |
Balance at December 31, 2022 | 45,544 |  |  | 6,313 |  |  | 16,887 |  |  |  |  | 16,033 |  |  | 6,311 |
Foreign currency translation adjustment | 190 |  |  | 175 |  |  | 15 |  |  |  |  | — |  |  | — |
Balance at December 31, 2023 | $ | 45,734 |  |  | $ | 6,488 |  |  | $ | 16,902 |  |  |  |  | $ | 16,033 |  |  | $ | 6,311 |
Schedule of Finite-Lived Intangible Assets | Intangible assets were as follows (in thousands):
| December 31,
| 2023 |  | 2022
Intangible assets subject to amortization |  |  |
(Definite-lived): |  |  |
Patents and acquired technology | $ | 32,752 |  |  | $ | 32,570 |
Customer relationships | 33,537 |  |  | 33,226 |
Trade names | 1,517 |  |  | 1,521 |
Non-competition agreements | 9,956 |  |  | 10,133 |
| 77,762 |  |  | 77,450 |
Accumulated amortization: |  |  |
Patents and acquired technology | (11,048) |  |  | (9,059) |
Customer relationships | (18,306) |  |  | (16,209) |
Trade names | (1,517) |  |  | (1,521) |
Non-competition agreements | (9,939) |  |  | (10,098) |
| (40,810) |  |  | (36,887) |
Net intangible assets subject to amortization | $ | 36,952 |  |  | $ | 40,563 |
Intangible assets not subject to amortization |  |  |
(Indefinite-lived): |  |  |
Trade names | 7,682 |  |  | 7,654 |
| $ | 44,634 |  |  | $ | 48,217 |
Schedule of Expected Amortization Expense | Estimated annual amortization expense for each of the next five years is as follows (in thousands):
2024 | $ | 3,722 |
2025 | 3,705 |
2026 | 3,705 |
2027 | 3,669 |
2028 | 3,081 |

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