Goodwill And Other Intangible Assets

6 Months Ended

Jun. 30, 2018

Goodwill And Other Intangible Assets [Abstract]

7. Goodwill and Other Intangible Assets

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


						Performance
	Performance			Color		Colors and
	Coatings			Solutions		Glass			Total
	(Dollars in thousands)
Goodwill, net at December 31, 2017	$	38,236		$	42,535	$	114,598		$	195,369
Acquisitions		5,140	(2)		—		1,291	(1)		6,431
Foreign currency adjustments		(1,348)			(445)		(835)			(2,628)
Goodwill, net at June 30, 2018	$	42,028		$	42,090	$	115,054		$	199,172

(1) During the first quarter of 2018, the Company recorded a purchase price adjustment within the measurement period for goodwill related to the Dip-Tech acquisition.

(2) During the second quarter of 2018, the Company recorded goodwill related to the FMU acquisition.


	June 30,		December 31,
	2018		2017
	(Dollars in thousands)
Goodwill, gross	$	257,639	$	253,836
Accumulated impairment		(58,467)		(58,467)
Goodwill, net	$	199,172	$	195,369

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 June 30, 2018, 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:


	June 30,		December 31,
	2018		2017
	(Dollars in thousands)
Gross amortizable intangible assets:
Patents	$	5,210	$	5,279
Land rights		4,893		4,947
Technology/know-how and other		127,765		131,070
Customer relationships		92,493		93,500
Total gross amortizable intangible assets		230,361		234,796
Accumulated amortization:
Patents		(5,149)		(5,226)
Land rights		(2,912)		(2,883)
Technology/know-how and other		(46,580)		(45,214)
Customer relationships		(13,447)		(11,114)
Total accumulated amortization		(68,088)		(64,437)
Amortizable intangible assets, net	$	162,273	$	170,359

Indefinite-lived intangible assets consisted of the following:

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

December 31,

(Dollars in thousands)

Indefinite-lived intangibles assets:

Trade names and trademarks