Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The changes in the carrying value of goodwill were as follows (in thousands):

	Amount
Balance as of December 31, 2021	$	241,713
Acquisition of SAC Sirius Advanced Cybernetics GmbH (refer to Note 21)	2,359
Foreign exchange rate changes	(1,442)
Balance as of December 31, 2022	242,630
Acquisition of Moritex Corporation (refer to Note 21)	145,047
Foreign exchange rate changes	5,504
Balance as of December 31, 2023	$	393,181

For its 2023 annual analysis of goodwill, management elected to perform a qualitative assessment. Based on this assessment, management believes it is more likely than not that the fair value of the reporting unit exceeds its carrying value. The Company did not record impairment charges related to goodwill in 2023, 2022, or 2021.