Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net:

The estimated lives of the Company’s intangible assets are as follows:



Intangible asset	Estimated Lives
Supply agreement	50 years
SOP production rights	25 years
Patents	10-20 years
Developed technology	5 years
Lease rights	25 years
Customer and distributor relationships	10 years
Trademarks	10 years
Noncompete agreements	5 years
Trade names	Indefinite
Water rights	Indefinite

None of the finite-lived intangible assets have a residual value. Aggregate amortization expense was $1.0 million and $1.3 million in the third quarters of 2015 and 2014, respectively, and $3.3 million and $3.1 million in the first nine months of 2015 and 2014, respectively.

The Company has goodwill of $60.0 million and $68.5 million as of September 30, 2015 and December 31, 2014 in its consolidated balance sheets. Approximately $53.6 million and $62.0 million of the amounts recorded for goodwill as of September 30, 2015 and December 31, 2014, respectively, were recorded in the Company’s plant nutrition segment and the remaining amounts in both periods were immaterial and recorded in its salt segment and corporate and other. The change in goodwill from December 31, 2014 was due to the impact from translating foreign-denominated amounts to U.S. dollars.