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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | NOTE 3 — Goodwill and Intangible Assets Goodwill Goodwill represents the future economic benefits derived from the Company's unique market position, the growth attributable to the Net Power Cycle and the Company's assembled workforce, none of which are individually and separately recognized as intangible assets. Goodwill is allocated to the Company's sole reportable segment and reporting unit. The following table presents the Company's goodwill included in the condensed consolidated balance sheets:
Goodwill at December 31, 2023 (Successor) | $ | 423,920 |
Measurement adjustments | (64,073) |
Goodwill at June 30, 2024 (Successor) | $ | 359,847 |
During the second quarter of 2024, the Company completed its estimate of deferred taxes as of the Closing Date and finalized its purchase price allocation, which resulted in a measurement adjustment to goodwill. Definite-Lived Intangible Assets The following tables summarize the Company's definite-lived intangible assets included in the condensed consolidated balance sheets:
| June 30, 2024 (Successor) |  | December 31, 2023 (Successor)
| Gross Amount | Accumulated Amortization | Net Amount |  | Gross Amount | Accumulated Amortization | Net Amount
Developed technology | $ | 1,345,000 |  | $ | (71,360) |  | $ | 1,273,640 |  |  | $ | 1,345,000 |  | $ | (37,735) |  | $ | 1,307,265 |
Software | 412 |  | (15) |  | 397 |  |  | — |  | — |  | — |
Total definite lived intangible assets | $ | 1,345,412 |  | $ | (71,375) |  | $ | 1,274,037 |  |  | $ | 1,345,000 |  | $ | (37,735) |  | $ | 1,307,265 |
The following table presents the Company’s a mortization expense for the following periods:
| Period from |  | Period from
| April 1 – June 30, 2024 (Successor) |  | June 8 – June 30, 2023 (Successor) |  |  | April 1 – June 7, 2023 (Predecessor) |  | January 1 - June 30, 2024 (Successor) |  | June 8 – June 30, 2023 (Successor) |  |  | January 1 – June 7, 2023 (Predecessor)
Amortization expense | $ | 16,828 |  |  | $ | 4,110 |  |  |  | $ | — |  |  | $ | 33,640 |  |  | $ | 4,110 |  |  |  | $ | — |
The Company does not own or control any intangible assets with indefinite useful lives. The following table presents estimated amortization expense for the next five years and thereafter:
Remainder of 2024 |  | $ | 33,711 |
2025 |  | 67,323 |
2026 |  | 67,323 |
2027 |  | 67,323 |
2028 |  | 67,323 |
2029 |  | 67,268 |
2030 and thereafter |  | 903,766 |
Total |  | $ | 1,274,037 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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