Goodwill And Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill And Other Intangible Assets [Abstract]

7. Goodwill and Other Intangible Assets

Details and activity in the Company’s goodwill by segment follow:



	Functional		Color
(Dollars in thousands)	Coatings		Solutions		Total
Goodwill, net at December 31, 2019	$	121,902	$	50,307	$	172,209
Foreign currency adjustments		335		697		1,032
Goodwill, net at September 30, 2020	$	122,237	$	51,004	$	173,241


	September 30,		December 31,
(Dollars in thousands)	2020		2019
Goodwill, gross	$	231,708	$	230,676
Accumulated impairment		(58,467)		(58,467)
Goodwill, net	$	173,241	$	172,209

Goodwill is tested for impairment at the reporting unit level on an annual basis in the fourth quarter, and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying value. As of September 30, 2020, the Company is not aware of any events or circumstances that occurred which would require a goodwill impairment test.

Amortizable intangible assets consisted of the following:


	September 30,		December 31,
(Dollars in thousands)	2020		2019
Gross amortizable intangible assets:
Patents	$	5,504	$	5,434
Land rights		3,053		2,900
Technology/know-how and other		115,270		112,940
Customer relationships		66,815		66,454
Total gross amortizable intangible assets		190,642		187,728
Accumulated amortization:
Patents		(5,482)		(5,413)
Land rights		(1,549)		(1,378)
Technology/know-how and other		(58,973)		(50,973)
Customer relationships		(16,923)		(14,831)
Total accumulated amortization		(82,927)		(72,595)
Amortizable intangible assets, net	$	107,715	$	115,133

Indefinite-lived intangible assets consisted of the following:


	September 30,		December 31,
(Dollars in thousands)	2020		2019
Indefinite-lived intangibles assets:
Trade names and trademarks	$	12,943	$	12,682