Note 8 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

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			Total
Balance, December 31, 2018
Goodwill, gross	$	244,521		$	76,383		$	320,904
Accumulated impairment losses		(62,848	)		(45,400	)		(108,248	)
Goodwill, net		181,673			30,983			212,656
2019 Activity:
Foreign currency translation		(137	)		563			426
Reclassification to assets held for sale (1)		(4,224	)		—			(4,224	)
Balance, December 31, 2019
Goodwill, gross		240,160			76,946			317,106
Accumulated impairment losses		(62,848	)		(45,400	)		(108,248	)
Goodwill, net		177,312			31,546			208,858
2020 Activity:
Foreign currency translation		1,559			248			1,807
Balance, December 31, 2020
Goodwill, gross		241,719			77,194			318,913
Accumulated impairment losses		(62,848	)		(45,400	)		(108,248	)
Goodwill, net	$	178,871		$	31,794		$	210,665

⁽¹⁾ 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, 2020									December 31, 2019
	Weighted Average Useful Lives (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
License agreements		—	$	3,894	$	(3,894	)	$	—	$	3,894	$	(3,824	)	$	70
Leases		—		864		(864	)		—		864		(777	)		87
Trademarks		8.4		14,758		(7,459	)		7,299		14,688		(6,695	)		7,993
Non-competes		2.3		1,561		(1,008	)		553		1,556		(784	)		772
Customer relationships		5.7		95,058		(56,602	)		38,456		94,865		(50,104	)		44,761
Patents and acquired technology		6.9		39,756		(27,195	)		12,561		39,288		(25,096	)		14,192
Total intangible assets		—	$	155,891	$	(97,022	)	$	58,869	$	155,155	$	(87,280	)	$	67,875

Amortization expense from continuing operations was $9.4 million, $9.4 million and $9.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. Estimated amortization expense for the years ended December 31, 2021, 2022, 2023, 2024 and 2025 is $9.4 million, $9.4 million, $9.4 million, $9.4 million and $8.5 million, respectively.