| Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets The following table sets forth the gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | June 30, 2026 | | (in thousands) | Amortization
life in years | Gross carrying amount | Accumulated amortization and other | Net carrying amount | | | | | | | Finite-lived assets: | | | | | | AEC Trademarks and trade names | 6-15 | $ | 208 | | $ | (208) | | $ | — | | | AEC Technology | 10-15 | 6,356 | | (4,311) | | 2,045 | | | AEC Intellectual property | 15 | 1,250 | | (548) | | 702 | | | AEC Customer relationships | 8-15 | 69,465 | | (64,753) | | 4,712 | | | Heimbach Developed technology | 9 | 8,751 | | (2,815) | | 5,936 | | | Total Finite-lived intangible assets | | $ | 86,030 | | $ | (72,635) | | $ | 13,395 | | | | | | | | Indefinite-lived intangible assets: | | | | | | Heimbach Trade name | | $ | 6,272 | | $ | — | | $ | 6,272 | | | MC Goodwill | | 68,482 | | — | | 68,482 | | | AEC Goodwill | | 113,899 | | (21,829) | | 92,070 | | | Total Indefinite-lived intangible assets: | | $ | 188,653 | | $ | (21,829) | | $ | 166,824 | |
| | | | | | | | | | | | | | | | December 31, 2025 | | (in thousands) | Amortization
life in years | Gross carrying amount | Accumulated amortization and other | Net carrying amount | | | | | | | Finite-lived assets: | | | | | | AEC Trademarks and trade names | 6-15 | $ | 208 | | $ | (208) | | $ | — | | | AEC Technology | 10-15 | 6,530 | | (4,114) | | 2,416 | | | AEC Intellectual property | 15 | 1,250 | | (505) | | 745 | | | AEC Customer relationships | 8-15 | 69,560 | | (64,331) | | 5,229 | | | Heimbach Developed technology | 9 | 9,291 | | (2,709) | | 6,582 | | | Total Finite-lived assets | | $ | 86,839 | | $ | (71,867) | | $ | 14,972 | | | | | | | | Indefinite-lived intangible assets: | | | | | | Heimbach Trade name | | $ | 6,456 | | $ | — | | $ | 6,456 | | | MC Goodwill | | 69,911 | | — | | 69,911 | | | AEC Goodwill | | 114,428 | | (21,832) | | 92,596 | | | Total Indefinite-lived intangible assets: | | $ | 190,795 | | $ | (21,832) | | $ | 168,963 | |
As of June 30, 2026 and December 31, 2025, $13.4 million of finite-lived assets and $21.8 million of AEC goodwill related to the Amelia Earhart Drive facility were reclassified to held for sale. The changes in intangible assets, net and goodwill from December 31, 2025 to June 30, 2026, were as follows: | | | | | | | | | | | | | | | | | (in thousands) | December 31, 2025 | | Amortization | Currency
Translation | June 30, 2026 | | Finite-lived intangible assets: | | | | | | | AEC Trademarks and trade names | $ | — | | | $ | — | | $ | — | | $ | — | | | AEC Technology | 2,416 | | | (299) | | (72) | | 2,045 | | | AEC Intellectual property | 745 | | | (43) | | — | | 702 | | | AEC Customer relationships | 5,229 | | | (472) | | (45) | | 4,712 | | | Heimbach Developed technology | 6,582 | | | (480) | | (166) | | 5,936 | | | Total Finite-lived intangible assets | $ | 14,972 | | | $ | (1,294) | | $ | (283) | | $ | 13,395 | | | | | | | | | Indefinite-lived intangible assets: | | | | | | | Heimbach Trade name | $ | 6,456 | | | $ | — | | $ | (184) | | $ | 6,272 | | | MC Goodwill | 69,911 | | | — | | (1,429) | | 68,482 | | | AEC Goodwill | 92,596 | | | — | | (526) | | 92,070 | | | Total Indefinite-lived assets: | $ | 168,963 | | | $ | — | | $ | (2,139) | | $ | 166,824 | |
Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill and intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually.
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