Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill activity for each of the Company’s reportable segments that carry goodwill, Specialty Chemicals and Engineered Materials (SCEM), Microcontamination Control (MC) and Advanced Materials Handling (AMH), for the years ended December 31, 2019 and 2018 is shown below:



(In thousands)	SCEM			MC			AMH		Total
December 31, 2017	$	304,270		$	8,007		$	47,411	$	359,688
Addition due to acquisitions	—			183,729			9,660		193,389
Other, including foreign currency translation	(2,847		)	(28		)	—		(2,875		)
December 31, 2018	301,423			191,708			57,071		550,202
Addition due to acquisitions	98,410			47,711			—		146,121
Purchase accounting adjustments	—			451			—		451
Other, including foreign currency translation	(1,881		)	151			—		(1,730		)
December 31, 2019	$	397,952		$	240,021		$	57,071	$	695,044

As of December 31, 2019, goodwill amounted to approximately $695.0 million, an increase of $144.8 million from the balance at December 31, 2018. The increase in goodwill in 2019 reflects the acquisition of DSC, MPD, and Anow described in note 3 offset by the decrease resulting from foreign currency translation. The increase in goodwill in 2018 reflects the acquisition of SPG, PSS and Flex described in note 3 offset by the decrease resulting from foreign currency translation.

Identifiable intangible assets at December 31, 2019 and 2018 consist of the following:



2019
(In thousands)	Gross carrying Amount		Accumulated amortization		Net carrying value		Weighted average life in years
Developed technology	272,334		204,689		67,645		7.1
Trademarks and trade names	29,106		16,326		12,780		10.1
Customer relationships	405,537		161,551		243,986		11.8
Other	36,303		26,762		9,541		4.1
	$	743,280	$	409,328	$	333,952	9.7



2018
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value		Weighted average life in years
Developed technology	248,776		176,421		72,355		7.0
Trademarks and trade names	25,643		14,749		10,894		10.5
Customer relationships	328,050		133,068		194,982		10.8
Other	36,306		18,850		17,456		4.1
	$	638,775	$	343,088	$	295,687	8.9

The table below sets forth the amortization expense for the years ended December 31, 2019, 2018, and 2017:



(In thousands)	2019		2018		2017
Amortization expense	$	66,428	$	62,152	$	44,023

The amortization expense for each of the five succeeding years and thereafter relating to intangible assets currently recorded in the Company’s consolidated balance sheets is estimated to be the following at December 31, 2019:



(In thousands)	2020		2021		2022		2023		2024		Thereafter		Total
Future amortization expense	$	50,930	$	44,297	$	43,569	$	42,880	$	29,976	$	122,300	$	333,952