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Goodwill and Intangible Assets

6 Months Ended

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 amortization 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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- References

No definition available.

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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

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