GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following presents changes to goodwill for the periods indicated:


Balance at December 31, 2019	$	297,607
Drake acquisition		7,551
Simpson acquisition		51,305
Detroit Speed acquisition		2,636
Balance at December 31, 2020		359,099
AEM acquisition		17,426
Classic Instruments acquisition		4,912
Speartech acquisition		2,705
ADS acquisition		1,260
Baer acquisition		8,363
Brothers acquisition		19,561
Rocket acquisition		2,141
Measurement period adjustments*		(4,084	)
Balance at December 31, 2021	$	411,383

* See Note 2, "Business Combination and Acquisitions - Simpson Performance Products, Inc. and Advance Engine Management Inc."

Goodwill represents the premium paid over the fair value of the net tangible and identifiable intangible assets acquired in the Company's business combinations. The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the acquisition date becomes available, not to exceed 12 months. Adjustments in purchase price allocations may require a change in the amounts allocated to goodwill during the periods in which the adjustments are determined.

Intangible assets consisted of the following:


	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	268,438	$	(32,662	)	$	235,776
Tradenames		13,775		(4,119	)		9,656
Technology		26,675		(9,080	)		17,595
Total finite-lived intangible assets	$	308,888	$	(45,861	)	$	263,027

Indefinite-lived intangible assets:
Tradenames	$	175,434		—		$	175,434


	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	245,274	$	(21,819	)	$	223,455
Tradenames		13,775		(3,369	)		10,406
Technology		24,595		(6,674	)		17,921
Total finite-lived intangible assets	$	283,644	$	(31,862	)	$	251,782

Indefinite-lived intangible assets:
Tradenames	$	152,740		—		$	152,740

The following outlines the estimated future amortization expense related to intangible assets held as of December 31, 2021:


2022	$	14,644
2023		14,481
2024		13,668
2025		13,638
2026		13,532
Thereafter		193,064
Total	$	263,027