v3.25.2
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The changes in the carrying amount of goodwill from December 31, 2024 to June 30, 2025, were as follows (in thousands):
Artificial Lift and Downhole
Goodwill, December 31, 2024$61,653 
Impact on non-U.S. local currency translation3,569 
Goodwill, June 30, 2025$65,222 
Goodwill is not amortized and is tested for impairment at least annually or when events and circumstances indicate that fair value may be below its carrying value.
Intangible Assets
Intangible assets consisted of the following as of June 30, 2025 and December 31, 2024, respectively (in thousands):
June 30, 2025
Gross Carrying AmountAccumulated AmortizationNet IntangiblesAmortization Period (In Years)
Customer relationships$222,157 $(135,571)$86,586 
2 - 15
Patents and technology30,197 (19,377)10,820 
10 - 19
Trade names and other29,776 (23,497)6,279 
8 - 19
Total intangible assets$282,130 $(178,445)$103,685 
December 31, 2024
Gross Carrying AmountAccumulated AmortizationNet IntangiblesAmortization Period (In Years)
Customer relationships$212,990 $(121,405)$91,585 
2 - 15
Patents and technology29,166 (17,867)11,299 
10 - 19
Trade names and other28,913 (22,567)6,346 
8 - 19
Total intangible assets$271,069 $(161,839)$109,230 
Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable.