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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets 15. Goodwill and Other Intangible Assets
The changes in intangible assets and goodwill from December 31, 2019 to December 31, 2021, were as follows:
(in thousands, except for years)
Amortization life in years
Balance at December 31, 2020Other Changes
Amortization
Currency Translation
Balance at December 31, 2021
Finite-Lived intangible assets:
AEC Trademarks and trade names
6-15
$57 $— $(12)$— $45 
AEC Technology
10-15
5,744 — (629)(403)4,712 
AEC Intellectual property
15
1,160 — (83)— 1,077 
AEC Customer contracts
6
3,632 — (2,912)— 720 
AEC Customer relationships
8-15
36,260 — (3,503)(230)32,527 
AEC Other intangibles
5
16 — (16)— — 
Total Finite-Lived intangible assets$46,869 $— $(7,155)$(633)$39,081 
Indefinite-Lived intangible assets:
MC Goodwill
$72,290 $— $— $(3,961)$68,329 
AEC Goodwill
115,263 — — (1,468)113,795 
Total Indefinite-Lived intangible assets$187,553 $— $— $(5,429)$182,124 


(in thousands, except for years)
Amortization life in years
Balance at December 31,
2019		Other ChangesAmortizationCurrency
Translation		Balance at December 31,
2020
Finite-Lived intangible assets:
AEC Trademarks and trade names
6-15
$73 $— $(16)$— $57 
AEC Technology
10-15
5,804 — (670)610 5,744 
AEC Intellectual property
15
1,243 — (83)— 1,160 
AEC Customer contracts
6
6,544 — (2,912)— 3,632 
AEC Customer relationships
8-15
39,147 329 (3,513)297 36,260 
AEC Other intangibles
5
81 — (65)— 16 
Total Finite-Lived intangible assets$52,892 $329 $(7,259)$907 $46,869 
Indefinite-Lived intangible assets:
MC Goodwill
$67,672 $— $— $4,618 $72,290 
AEC Goodwill
113,262 335 — 1,666 115,263 
Total Indefinite-Lived intangible assets$180,934 $335 $— $6,284 $187,553 
On November 20, 2019, the Company acquired CirComp GmbH, a privately-held developer and manufacturer of high-performance composite components located in Kaiserslautern, Germany. The assets acquired include goodwill of $17.7 million and amortizable intangible assets of $10.3 million, including measurement period adjustments recorded in 2020.
As of December 31, 2021, the gross carrying amount and accumulated amortization of Finite-Lived intangible assets was $78.3 million and $39.2 million, respectively. As of December 31, 2020, the gross carrying amount and accumulated amortization of Finite-Lived intangible assets was $78.0 million and $31.1 million, respectively.
Amortization expense related to Finite-lived intangible assets was reported in the Consolidated Statement of Income as follows: $3.0 million in Cost of goods sold and $4.2 million in Selling, general and administrative expenses in 2021; $3.0 million in Cost of goods sold and $4.3 million in Selling, general and administrative expenses in 2020; and $3.0 million in Cost of goods sold and $3.3 million in Selling, general and administrative expenses in 2019. Estimated amortization expense of intangibles for the years ending December 31, 2022 through 2026, is as follows:
Year
Annual amortization
(in thousands)
2022$4,900 
20234,200 
20244,200 
20254,200 
20263,600