Note 8 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

8.    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, 2017
Goodwill, gross	$	246,486		$	74,369		$	80,246		$	401,101
Accumulated impairment losses		(61,459	)		(45,400	)		(33,527	)		(140,386	)
Goodwill, net		185,027			28,969			46,719			260,715
2018 Activity:
Acqusitions (1)		—			2,715			1,258			3,973
Impairments (2)		(1,389	)		—			—			(1,389	)
Foreign currency translation		(1,965	)		(701	)		—			(2,666	)
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		(137	)		563			—			426
Reclassification to assets held for sale (3)		(4,224	)		—			—			(4,224	)
Balance, December 31, 2019
Goodwill, gross		240,160			76,946			81,504			398,610
Accumulated impairment losses		(62,848	)		(45,400	)		(33,527	)		(141,775	)
Goodwill, net	$	177,312		$	31,546		$	47,977		$	256,835

(1)	During 2018, the Company recorded goodwill of $2.7 million and $1.3 million related to the acquisitions of Hebna and P2S, respectively (see Note 1).
(2)	During 2018, the Company recorded a $1.4 million goodwill impairment related to restructuring activities in Denmark (see Note 4).
(3)	During 2019, the Company classified certain assets of its CIPP contracting operation in Europe as held for sale (see Note 6).

Intangible Assets

Intangible assets consisted of the following (in thousands):

	December 31, 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		0.7	$	3,894	$	(3,825	)	$	70	$	3,894	$	(3,716	)	$	178
Leases		1.0		864		(777	)		87		864		(689	)		175
Trademarks		8.3		15,699		(6,911	)		8,788		15,751		(6,202	)		9,549
Non-competes		3.3		2,301		(1,354	)		947		2,529		(1,229	)		1,300
Customer relationships		7.2		157,576		(76,832	)		80,744		159,719		(66,753	)		92,966
Patents and acquired technology		9.0		39,288		(25,097	)		14,192		38,338		(22,810	)		15,528
Total intangible assets		—	$	219,622	$	(114,795	)	$	104,828	$	221,095	$	(101,399	)	$	119,696

Amortization expense was $13.7 million, $14.0 million and $16.1 million for the years ended December 31, 2019, 2018 and 2017, respectively. Estimated amortization expense for the years ended December 31, 2020, 2021, 2022, 2023 and 2024 is $13.5 million, $13.5 million, $13.3 million, $13.3 million and $13.3 million, respectively.