Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the nine months ended September 30, 2020 were as follows:


Balance at December 31, 2019	$	63,754
Impairment	(9,635)
Foreign currency translation adjustments	118
Balance at September 30, 2020	$	54,237

The Company had $53,278 and $43,643 of cumulative impairment losses as of September 30, 2020 and December 31, 2019, respectively.

During the nine months ended September 30, 2020, the Company recorded $9,635 of goodwill impairment in conjunction with the suspension of MBP Titan's operations during the second quarter of 2020. The Company estimated the fair value of MBP Titan using discounted cash flows and determined that the carrying value exceeded its estimated fair value, resulting in the impairment charge.

During the three and nine months ended September 30, 2019, the Company recorded $178 of goodwill impairment in conjunction with the closing of two of its reporting units during the third quarter of 2019.

Intangible assets consist of the following as of September 30, 2020:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	93,673	$	(31,934)	$	61,739
Customer relationships	10,850		(9,111)		1,739
Trademarks	5,900		(4,360)		1,540
Total	$	110,423	$	(45,405)	$	65,018

Intangible assets consist of the following as of December 31, 2019:


	Gross Carrying Amount		Accumulated Amortization		Net
Patents, developed technologies and know-how	$	90,659	$	(26,619)	$	64,040
Customer relationships	10,700		(8,440)		2,260
Trademarks	5,900		(3,854)		2,046
Total	$	107,259	$	(38,913)	$	68,346

Amortization expense was $1,913 and $1,891 for the three months ended September 30, 2020 and 2019, respectively, and $5,675 and $5,987 for the nine months ended September 30, 2020 and 2019, respectively.