Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The carrying amount, including changes therein, of goodwill by reporting segment was as follows:

(in thousands)	Production & Automation Technologies			Drilling Technologies		Total
December 31, 2017	$	808,952		$	101,136	$	910,088
Purchase price adjustment(1)	(53		)	—		(53		)
Foreign currency translation	(5,050		)	—		(5,050		)
December 31, 2018	803,849			101,136		904,985
Acquisitions	5,510			—		5,510
Foreign currency translation	618			—		618
December 31, 2019	$	809,977		$	101,136	$	911,113

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⁽¹⁾ Purchase price adjustment related to our 2017 acquisition of PCP Oil Tools S.A. and Ener Tools S.A.

Schedule of Finite-Lived Intangible Assets

The components of our definite- and indefinite-lived intangible assets were as follows:

	December 31, 2019						December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets:
Customer intangibles	$	560,316	$	353,189	$	207,127	$	568,643	$	319,827	$	248,816
Trademarks	35,695		24,830		10,865		36,296		21,575		14,721
Patents	38,436		26,838		11,598		38,141		23,568		14,573
Unpatented technologies	13,700		9,811		3,889		9,700		9,700		—
Drawings and manuals	2,558		1,758		800		3,000		2,142		858
Other	5,332		4,504		828		5,268		4,148		1,120
	656,037		420,930		235,107		661,048		380,960		280,088
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	659,637	$	420,930	$	238,707	$	664,648	$	380,960	$	283,688

Schedule of Indefinite-Lived Intangible Assets

The components of our definite- and indefinite-lived intangible assets were as follows:

	December 31, 2019						December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets:
Customer intangibles	$	560,316	$	353,189	$	207,127	$	568,643	$	319,827	$	248,816
Trademarks	35,695		24,830		10,865		36,296		21,575		14,721
Patents	38,436		26,838		11,598		38,141		23,568		14,573
Unpatented technologies	13,700		9,811		3,889		9,700		9,700		—
Drawings and manuals	2,558		1,758		800		3,000		2,142		858
Other	5,332		4,504		828		5,268		4,148		1,120
	656,037		420,930		235,107		661,048		380,960		280,088
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	659,637	$	420,930	$	238,707	$	664,648	$	380,960	$	283,688

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense related to intangible assets held as of December 31, 2019, is as follows:

(in thousands)	Estimated Amortization
2020	$	50,147
2021	49,319
2022	47,820
2023	33,928
2024	23,271