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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
3. Goodwill and Intangible Assets

At December 31, 2019 and 2018, goodwill is the only intangible asset that is not subject to amortization. The following table summarizes intangible assets with determinable useful lives by major category as of December 31, 2019 and 2018:

 
        
2019
    
2018
  
(In thousands except weighted average amortization years)
  
Weighted
Average
Amortization
Years
    
Cost
    
Accumulated
Amortization
    
Cost
    
Accumulated
Amortization
  
 
                              
Technological know-how
    
17.8
    
$
7,570
    
$
(1,391
)
  
$
14,570
    
$
(6,768
)
Customer relationships
    
13.6
      
3,474
      
(1,653
)
    
8,761
      
(5,673
)
Patents, trademarks, non-compete agreements, and other
    
15.5
      
10,496
      
(6,694
)
    
15,861
      
(7,884
)
 
                                        
Total finite-lived intangibles
    
16.0
    
$
21,540
    
$
(9,738
)
  
$
39,192
    
$
(20,325
)

In 2019, $5.0 million of intangible assets ($18.8 million of cost and $13.8 million of accumulated amortization) was moved to Assets held for sale on the Consolidated Balance Sheet as a result of the anticipated divestitures. See Note 15, Divestitures, for additional information.

Amortization of intangible assets was $2.9 million in 2019, $2.3 million in 2018, and $1.6 million in 2017. Estimated amortization expense, for the five years subsequent to December 31, 2019, is $1.8 million in 2020, 2021, and 2022; $1.5 million in 2023; and $1.3 million in 2024.

The changes in goodwill for the years ended December 31, 2019 and 2018, by reportable business segment, were as follows:

(In thousands)
  
Flavors &
Fragrances
    
Color
    
Asia Pacific
    
Consolidated
  
Balance as of December 31, 2017
  
$
112,977
    
$
290,889
    
$
5,129
    
$
408,995
  
Currency translation impact
    
(891
)
    
(8,269
)
    
52
      
(9,108
)
Acquisitions
    
—
      
16,288
      
—
      
16,288
  
Balance as of December 31, 2018
  
$
112,086
    
$
298,908
    
$
5,181
    
$
416,175
  
Currency translation impact
    
(184
)
    
(641
)
    
77
      
(748
)
Goodwill related to divestitures(1)
    
(3,754
)
    
(4,631
)
    
—
      
(8,385
)
Balance as of December 31, 2019
  
$
108,148
    
$
293,636
    
$
5,258
    
$
407,042
  

(1)
In the fourth quarter of 2019, the Company met all of the assets held for sale criteria related to the anticipated divestitures of its inks and fragrances (excluding its essential oils product line) product lines. Goodwill of $8.4 million was allocated to those disposal groups and was determined to be fully impaired based on the estimated fair value of each of the disposal groups. See Note 15, Divestitures, for additional information. 

In July 2018, the Company completed the acquisition of Sensient Natural Extraction Inc., which resulted in $8.9 million of goodwill (See Note 2, Acquisitions, for further information). This business was included in Corporate & Other in 2018. Beginning in the first quarter of 2019, the results of operations of this business are now reported in the Color segment. In addition, certain other reclassifications between reportable business segments have been made to conform to the current year presentation. The results for 2017 and 2018 have been reclassified to reflect these changes.