GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The Company's goodwill by reportable segment is $122,977 for the United States and $60,361 for Canada as of March 31, 2022. Goodwill is evaluated for impairment annually in the fourth quarter, or on an interim basis when an event occurs, or circumstances change that indicates the carrying value may not be recoverable. The Company did not identify a triggering event requiring a quantitative test for impairment as of March 31, 2022. The changes in goodwill are as follows:

	Goodwill
Balance at December 31, 2021	$	204,868
Acquisition - IGE Entities - remeasurement adjustments	(22,542)
Acquisition - all others - remeasurement adjustments and foreign currency translation adjustments, net	1,012
Balance at March 31, 2022	$	183,338

Intangible Assets, net

Intangible assets, net comprised the following:

	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Finite-lived intangible assets:
Computer software	$	8,929	$	(7,705)	$	1,224	$	8,814	$	(7,208)	$	1,606
Customer relationship	107,800		(19,440)		88,360		101,222		(16,517)		84,705
Technology, formulations and recipes	114,403		(8,026)		106,377		110,561		(3,630)		106,931
Trade names	132,110		(5,060)		127,050		—		—		—
Other	4,878		(3,679)		1,199		2,428		(1,744)		684
Total finite-lived intangible assets, net	368,120		(43,910)		324,210		223,025		(29,099)		193,926
Indefinite-lived intangible asset:
Trade names	2,801		—		2,801		120,773		—		120,773
Other	—		—		—		120		—		120
Total Intangible assets, net	$	370,921	$	(43,910)	$	327,011	$	343,918	$	(29,099)	$	314,819

Total amortization expense was $14,746 and $1,206 for the three months ended March 31, 2022 and 2021, respectively. Amortization expense in 2022 includes the impact from intangible assets recorded in connection with five acquisitions completed during the year ended December 31, 2021. The following are the estimated useful lives for the major classes of finite-lived intangible assets:

Computer software	5 years
Customer relationships	7 to 18 years
Technology, formulations and recipes	8 to 12 years
Trade names	15 to 20 years

For intangible assets subject to amortization, the weighted-average amortization period as of March 31, 2022, for computer software, customer relationships, technology and formulations & recipes and trade names was 2 years, 12 years, 11 years, and 19 years, respectively.

The estimated aggregate future amortization expense for intangible assets subject to amortization as of March 31, 2022, is summarized below:

	Estimated Future Amortization Expense
For the period of April 1, 2022 to December 31, 2022	$	19,743
Year ending December 31,
2023	25,036
2024	24,876
2025	24,737
2026	20,493
Thereafter	209,325
Total	$	324,210