v3.25.4
Goodwill and Other Intangibles (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Goodwill
The following table summarizes the changes in goodwill by reportable segment for the years ended December 31, 2025 and 2024 (in thousands):
Energy StorageSpecialtiesKetjenTotal
Balance at December 31, 2023(a)
$1,424,484 $32,639 $172,606 $1,629,729 
Foreign currency translation adjustments(36,893)(62)(10,060)(47,015)
Balance at December 31, 2024(a)
1,387,591 32,577 162,546 1,582,714 
Impairment loss(b)
— — (181,070)(181,070)
Foreign currency translation adjustments79,368 121 18,524 98,013 
Balance at December 31, 2025(c)
$1,466,959 $32,698 $— $1,499,657 

(a)    Balance as of December 31, 2024 and 2023 included an accumulated impairment loss of $6.8 million from the PCS reporting unit within the Ketjen segment. As a result, the balance of Ketjen goodwill as of December 31, 2024 and 2023 fully consisted of goodwill related to the Refining Solutions reporting unit. The balances of Energy Storage and Specialties goodwill as of December 31, 2024 and 2023 fully consisted of goodwill related to the Energy Storage and Specialties reporting units, respectively.
(b)    Impairment charge representing the full value of goodwill associated with the Refining Solutions reporting unit within the Ketjen segment. See Note 2, “Divestitures,” for further details.
(c)    Balance as of December 31, 2025 included an accumulated impairment loss of $187.8 million from the Refining Solutions and PCS reporting units within the Ketjen segment. The balances of Energy Storage and Specialties goodwill as of December 31, 2025 fully consisted of goodwill related to the Energy Storage and Specialties reporting units, respectively.
Other Intangibles
Other intangibles consist of the following at December 31, 2025 and 2024 (in thousands):
Customer Lists and Relationships
Trade Names and Trademarks(a)
Patents and TechnologyOtherTotal
Gross Asset Value
Balance at December 31, 2023
$417,803 $13,405 $46,287 $34,649 $512,144 
    Retirements— (2,309)(14,506)(4,449)(21,264)
Foreign currency translation adjustments and other(15,791)(426)484 (1,190)(16,923)
Balance at December 31, 2024
402,012 10,670 32,265 29,010 473,957 
Reclass to assets held for sale(b)
(45,289)(10,357)(2,900)(111)(58,657)
Foreign currency translation adjustments and other27,608 705 3,115 1,534 32,962 
Balance at December 31, 2025
$384,331 $1,018 $32,480 $30,433 $448,262 
Accumulated Amortization
Balance at December 31, 2023
$(204,481)$(3,673)$(26,758)$(15,374)$(250,286)
Amortization(19,570)— (2,549)(917)(23,036)
    Retirements— 2,309 14,506 4,449 21,264 
Foreign currency translation adjustments and other7,820 40 548 446 8,854 
Balance at December 31, 2024
(216,231)(1,324)(14,253)(11,396)(243,204)
Amortization(18,896)— (2,576)(958)(22,430)
Reclass to assets held for sale(b)
43,914 1,324 2,268 111 47,617 
Foreign currency translation adjustments and other(14,858)— (701)(453)(16,012)
Balance at December 31, 2025
$(206,071)$— $(15,262)$(12,696)$(234,029)
Net Book Value at December 31, 2024
$185,781 $9,346 $18,012 $17,614 $230,753 
Net Book Value at December 31, 2025
$178,260 $1,018 $17,218 $17,737 $214,233 
(a)Net Book Value includes only indefinite-lived intangible assets.
(b)Represents intangibles and related amortization of the Refining Solutions Business Transaction. See Note 2, “Divestitures,” for additional information.
Total Estimated Amortization Expense of Other Intangibles for Next Five Fiscal Years
Total estimated amortization expense of other intangibles for the next five fiscal years is as follows (in thousands):
Estimated Amortization Expense
2026$20,958 
2027$20,589 
2028$19,859 
2029$18,319 
2030$16,595