Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Accumulated Amortization by Category

Intangible assets were comprised of the following as of September 30, 2024:

	Weighted Average	Gross					Net
	Amortization	Carrying		Accumulated			Carrying
	Period (in years)	Amount		Amortization			Amount
Patented and unpatented technology	1	$	17,724	$	(16,769	)	$	955
Customer relationships	6		22,467		(17,898	)		4,569
Trade names and trademarks	13		5,468		(3,192	)		2,276
Software	3		237		(140	)		97
Indefinite lived trade names	n/a		2,000		—			2,000
Total intangible assets, net							$	9,897

Intangible assets and accumulated amortization by category as of December 31, 2023 is as follows:

	Weighted Average	Gross					Net
	Amortization	Carrying		Accumulated			Carrying
	Period (in years)	Amount		Amortization			Amount
Patented and unpatented technology	1	$	17,578	$	(15,829	)	$	1,749
Customer relationships	8		22,338		(16,414	)		5,924
Trade names and trademarks	14		5,469		(3,025	)		2,444
Software	4		237		(104	)		133
Indefinite lived trade names	n/a		1,975		—			1,975
Total intangible assets, net							$	12,225

Schedule of Estimated Amortization Expense

Estimated amortization expense for the three months ending December 31, 2024 and twelve months for the next four years and subsequent years is as follows:

	Amount
2024	$	587
2025		1,754
2026		705
2027		521
2028		521
And subsequent		3,809
Total intangible assets currently to be amortized		7,897
Intangible assets with indefinite lives not amortized		2,000
Total intangible assets	$	9,897

Changes in Goodwill

Changes in goodwill for the nine months ended September 30, 2024 and 2023 are as follows:

	2024		2023
Balance January 1,	$	37,354	$	36,916
Goodwill for Rabern acquisition		-		(80	)
Effect of change in exchange rates		197		239
Balance September 30,	$	37,551	$	37,075