Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill during the years ended December 31, 2021 and 2020, were as follows:


(In thousands)	2021		2020
Net balance at January 1	$	443,272	$	436,679
Additions and measurement period adjustments (Note 14)	199,454		—

Currency translation	(5,868)		6,593
Net balance at December 31	$	636,858	$	443,272

At December 31, 2021, goodwill of $448.7 million and $188.2 million related to the Americas and International reportable segments, respectively.

Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2021 and 2020, were as follows:


(In thousands)	2021		2020
Net balance at January 1	$	161,051	$	171,326
Additions (Note 14)	164,426		121
Amortization expense	(16,814)		(11,570)
Currency translation	(1,715)		1,174
Net balance at December 31	$	306,948	$	161,051


(In millions)		December 31, 2021						December 31, 2020
Intangible Assets:	Weighted Average Useful Life (years)	Gross Carrying Amount		Accumulated Amortization and Reserves		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Reserves		Net Carrying Amount
Customer relationships	19	$	185.7	$	(27.9)	$	157.8	$	59.7	$	(20.4)	$	39.3
Distribution agreements	20	66.1		(23.8)		42.3		66.4		(20.7)		45.7
Technology related assets	8	50.4		(25.5)		24.9		30.2		(21.3)		8.9
Patents, trademarks and copyrights	16	35.2		(13.6)		21.6		19.4		(12.5)		6.9
License agreements	5	5.4		(5.3)		0.1		5.4		(5.3)		0.1
Other	3	3.3		(3.0)		0.3		3.0		(2.8)		0.2
Total	17	$	346.1	$	(99.1)	$	247.0	$	184.1	$	(83.0)	$	101.1

At December 31, 2021, the above intangible assets balance includes a trade name related to the Globe acquisition with an indefinite life totaling $60.0 million.Intangible asset amortization expense over the next five years is expected to be approximately $20 million in 2022, $18 million in 2023 - 2025 and $17 million in 2026.