Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in the carrying amount of goodwill

Changes in the carrying amount of goodwill for the three months ended March 31, 2016 are as follows:

(in thousands)	Goodwill
Balance as of December 31, 2015	$	56,006
Measurement-period adjustments	6,073
Balance as of March 31, 2016	$	62,079

Schedule of other intangible assets

The Company’s other intangible assets at March 31, 2016 and December 31, 2015 consisted of the following:

	March 31, 2016							December 31, 2015
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Other intangible assets:
Developed technology	$	757,000	$	(26,176	)	$	730,824	$	757,000	$	(16,360	)	$	740,640
In-process research and development	39,000		—			39,000		39,000		—			39,000
Trade name	35,500		—			35,500		35,500		—			35,500
Service provider network	2,000		—			2,000		2,000		—			2,000
Customer relationships	8,000		(222		)	7,778		8,000		(139		)	7,861
Software	60		(8		)	52		60		(5		)	55
Total intangible assets	$	841,560	$	(26,406	)	$	815,154	$	841,560	$	(16,504	)	$	825,056

Schedule of other intangible assets

The Company’s other intangible assets at March 31, 2016 and December 31, 2015 consisted of the following:

	March 31, 2016							December 31, 2015
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Other intangible assets:
Developed technology	$	757,000	$	(26,176	)	$	730,824	$	757,000	$	(16,360	)	$	740,640
In-process research and development	39,000		—			39,000		39,000		—			39,000
Trade name	35,500		—			35,500		35,500		—			35,500
Service provider network	2,000		—			2,000		2,000		—			2,000
Customer relationships	8,000		(222		)	7,778		8,000		(139		)	7,861
Software	60		(8		)	52		60		(5		)	55
Total intangible assets	$	841,560	$	(26,406	)	$	815,154	$	841,560	$	(16,504	)	$	825,056

Estimated annual amortization expense for finite-lived intangible assets

7. Goodwill and Intangible Assets

Changes in the carrying amount of goodwill for the three months ended March 31, 2016 are as follows:

(in thousands)	Goodwill
Balance as of December 31, 2015	$	56,006
Measurement-period adjustments	6,073
Balance as of March 31, 2016	$	62,079

The Company’s other intangible assets at March 31, 2016 and December 31, 2015 consisted of the following:

	March 31, 2016							December 31, 2015
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Other intangible assets:
Developed technology	$	757,000	$	(26,176	)	$	730,824	$	757,000	$	(16,360	)	$	740,640
In-process research and development	39,000		—			39,000		39,000		—			39,000
Trade name	35,500		—			35,500		35,500		—			35,500
Service provider network	2,000		—			2,000		2,000		—			2,000
Customer relationships	8,000		(222		)	7,778		8,000		(139		)	7,861
Software	60		(8		)	52		60		(5		)	55
Total intangible assets	$	841,560	$	(26,406	)	$	815,154	$	841,560	$	(16,504	)	$	825,056

The weighted-average amortization period for the finite-lived intangible assets is 19.3 years. The weighted-average amortization period for developed technology, customer relationships and software is 19.2, 23.8 and 3.6 years, respectively.

Goodwill and intangible assets at March 31, 2016 are based on the preliminary purchase price allocation of the AgroFresh Business, which is based on preliminary valuations performed to determine the fair value of the acquired assets as of the acquisition date. The amounts allocated to goodwill and other intangible assets are subject to final adjustment to reflect the final valuations. These final valuations could have a material impact on other intangible assets and goodwill. See Note 3 for further discussion of the acquisition of the AgroFresh Business.

Estimated annual amortization expense for finite-lived intangible assets subsequent to March 31, 2016 is as follows:

(in thousands)	Amount
2016 (remaining)	$	29,698
2017	39,597
2018	39,597
2019	39,597
2020	39,597
Thereafter	550,508
	$	738,594