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Note 7 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Text Block]

7.	GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table presents a reconciliation of the beginning and ending balances of goodwill (in thousands):

	*Infrastructure Solutions*			*Corrosion Protection*			*Energy Services*			*Total*
Balance, December 31, 2018
Goodwill, gross	$	244,521		$	76,383		$	81,504		$	402,408
Accumulated impairment losses		(62,848	)		(45,400	)		(33,527	)		(141,775	)
Goodwill, net		181,673			30,983			47,977			260,633
2019 Activity:
Foreign currency translation		(1,084	)		276			—			(808	)
Reclassification to assets held for sale ⁽¹⁾		(4,224	)		—			—			(4,224	)
Balance, September 30, 2019
Goodwill, gross		239,213			76,659			81,504			397,376
Accumulated impairment losses		(62,848	)		(45,400	)		(33,527	)		(141,775	)
Goodwill, net	$	176,365		$	31,259		$	47,977		$	255,601

⁽¹⁾

During the second quarter of 2019, the Company classified certain assets of its CIPP contracting operation in Europe as held for sale. See Note 5.

Intangible Assets

Intangible assets consisted of the following (in thousands):

	*September 30, 2019*								*December 31, 2018*
	*Weighted Average Useful Lives (Years)*	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
License agreements	1.0	$	3,894	$	(3,801	)	$	93	$	3,894	$	(3,716	)	$	178
Leases	1.3		864		(755	)		109		864		(689	)		175
Trademarks	9.8		15,657		(6,699	)		8,958		15,751		(6,202	)		9,549
Non-competes	3.7		2,434		(1,422	)		1,012		2,529		(1,229	)		1,300
Customer relationships	7.8		157,342		(74,122	)		83,220		159,719		(66,753	)		92,966
Patents and acquired technology	8.0		38,660		(24,154	)		14,505		38,338		(22,810	)		15,528
Total intangible assets	—	$	218,850	$	(110,953	)	$	107,897	$	221,095	$	(101,399	)	$	119,696

Amortization expense was $3.4 million and $3.5 million for the quarters ended September 30, 2019 and 2018, respectively, and $10.3 million and $10.4 million for the nine months ended September 30, 2019 and 2018, respectively. Estimated amortization expense by year is as follows (in thousands):

2019	$	13,611
2020		13,518
2021		13,338
2022		13,338
2023		13,338