Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill

v3.26.1
Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Changes in the carrying amount of goodwill by reportable segment during the years ended December 31, 2025 and 2024 was as follows:
Products Services Energy Production Total
Balance at December 31, 2023 $ 40,870  $ 337,268  $ 2,365,286  $ 2,743,424 
Impairment —  —  (217,295) (217,295)
Acquisition - adjustment —  (179,563) —  (179,563)
Balance at December 31, 2024 $ 40,870  $ 157,705  $ 2,147,991  $ 2,346,566 
Impairment (40,870) —  (1,057,254) (1,098,124)
Balance at December 31, 2025 $ —  $ 157,705  $ 1,090,737  $ 1,248,442 
We performed a goodwill impairment test of the Energy Production goodwill at December 31, 2025 and 2024 and determined that the carrying value of the assets exceeded estimated fair value of the of the assets, based on a discounted cash flow analysis, and recorded goodwill impairment of $1,057,254 and $217,295 for the years ended December 31, 2025 and 2024, respectively We performed a goodwill impairment test of the Services goodwill and determined that the estimated fair value of the assets, based on a discounted cash flow analysis, exceeded the carrying value of the assets and concluded there was no impairment of goodwill at December 31, 2025. The Products goodwill was deemed impaired and we recorded goodwill impairment of $40,870 for the year ended December 31, 2025.
See Note 5. "Aegis Contract and Related Asset Acquisition" for further discussion.