Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

8. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by reportable operating segments were as follows:


	Engineered Products		Fueling Solutions		Imaging & Identification		Pumps & Process Solutions		Refrigeration & Food Equipment		Total
Balance at December 31, 2019	$	636,571	$	873,381	$	977,069	$	750,627	$	545,699	$	3,783,347
Acquisitions	33,125		—		92,256		—		—		125,381

Disposition of business	—		—		—		—		(2,841)		(2,841)
Foreign currency translation	(4,446)		(26,008)		(8,514)		(5,790)		(312)		(45,070)
Balance at March 31, 2020	$	665,250	$	847,373	$	1,060,811	$	744,837	$	542,546	$	3,860,817

During the three months ended March 31, 2020, the Company recorded additions of $125,381 to goodwill as a result of the acquisitions with the Engineered Products and Imaging & Identification segments discussed in Note 3 — Acquisitions. During the three months ended March 31, 2020, the Company disposed of $2,841 of the Refrigeration & Food Equipment segment goodwill as a result of the sale of a business as discussed in Note 4 — Disposed Operations.

Dover performs its annual goodwill impairment testing in the fourth quarter of each year. During the 2019 impairment testing, all fifteen reporting units had fair values substantially in excess of their carrying values. In addition to the annual impairment test, the Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic and its impact on each of the reporting units. Further, the Company assessed the current market capitalization, forecasts and the amount of headroom in the 2019 impairment test. The Company determined that a triggering event has not occurred which would require an interim impairment test to be performed. Refer to "Segment Results of Operations" for further details on the COVID-19 impact to the Company's operations.

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:


	March 31, 2020										December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Customer intangibles	$	1,467,966	$	731,391	$	736,575	$	1,410,636	$	714,566	$	696,070
Trademarks	220,805		89,123		131,682		218,064		85,791		132,273
Patents	158,612		134,360		24,252		159,376		133,677		25,699
Unpatented technologies	162,763		100,858		61,905		154,505		99,276		55,229
Distributor relationships	80,237		44,889		35,348		82,779		44,202		38,577
Drawings & manuals	26,619		22,228		4,391		27,500		22,403		5,097
Other	22,908		17,482		5,426		22,355		16,939		5,416
Total	2,139,910		1,140,331		999,579		2,075,215		1,116,854		958,361
Unamortized intangible assets:
Trademarks	96,561		—		96,561		96,653		—		96,653
Total intangible assets, net	$	2,236,471	$	1,140,331	$	1,096,140	$	2,171,868	$	1,116,854	$	1,055,014

For the three months ended March 31, 2020 and 2019, amortization expense was $34,197 and $35,550, respectively, including acquisition-related intangible amortization of $33,817 and $35,155, respectively.