Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles:

The following table summarizes the changes in goodwill by reportable segment for the three-month period ended March 31, 2025 (in thousands):


	Energy Storage		Specialties		Ketjen		Total
Balance at December 31, 2024(a)	$	1,387,591	$	32,577	$	162,546	$	1,582,714



Foreign currency translation adjustments	18,372		10		5,048		23,430
Balance at March 31, 2025(a)	$	1,405,963	$	32,587	$	167,594	$	1,606,144

(a) Balance at March 31, 2025 and December 31, 2024 includes an accumulated impairment loss of $6.8 million from the (“PCS”) reporting unit within the Ketjen segment. As a result, the balance of Ketjen at March 31, 2025 and December 31, 2024 fully consists of goodwill related to the Refining Solutions reporting unit.

As previously discussed in Part II, Item 8 - Note 1, "Summary of Significant Accounting Policies," of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, if revenue or adjusted EBITDA growth are lower than forecasted, or costs are higher than anticipated, the Company may recognize a non-cash goodwill impairment loss in the Refining Solutions reporting unit within the Ketjen segment.

The following table summarizes the changes in other intangibles and related accumulated amortization for the three-month period ended March 31, 2025 (in thousands):


	Customer Lists and Relationships		Trade Names and Trademarks(a)		Patents and Technology		Other		Total
Gross Asset Value
Balance at December 31, 2024	$	402,012	$	10,670	$	32,265	$	29,010	$	473,957


Foreign currency translation adjustments and other	7,197		214		147		937		8,495
Balance at March 31, 2025	$	409,209	$	10,884	$	32,412	$	29,947	$	482,452
Accumulated Amortization
Balance at December 31, 2024	$	(216,231)	$	(1,324)	$	(14,253)	$	(11,396)	$	(243,204)
Amortization	(4,615)		—		(629)		(223)		(5,467)

Foreign currency translation adjustments and other	(3,761)		—		(89)		(192)		(4,042)
Balance at March 31, 2025	$	(224,607)	$	(1,324)	$	(14,971)	$	(11,811)	$	(252,713)
Net Book Value at December 31, 2024	$	185,781	$	9,346	$	18,012	$	17,614	$	230,753
Net Book Value at March 31, 2025	$	184,602	$	9,560	$	17,441	$	18,136	$	229,739

(a) Net Book Value includes only indefinite-lived intangible assets.