Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the years ended December 31, 2021, 2020, and 2019, were as follows:


(in thousands)	CAG		Water		LPD		Other		Consolidated Total
Balance as of December 31, 2018	$	182,386	$	11,221	$	14,351	$	6,531	$	214,489
Business combinations	24,826		—		—		—		24,826
Impact of changes in foreign currency exchange rates	138		390		(119)		—		409
Balance as of December 31, 2019	$	207,350	$	11,611	$	14,232	$	6,531	$	239,724
Business combinations	220		—		—		—		220
Acquisition adjustment	(1,900)		—		—		—		(1,900)
Impact of changes in foreign currency exchange rates	4,724		412		167		—		5,303
Balance as of December 31, 2020	$	210,394	$	12,023	$	14,399	$	6,531	$	243,347
Business combinations	120,346		—		—		—		120,346
Impact of changes in foreign currency exchange rates	(3,569)		(84)		(695)		—		(4,348)
Balance as of December 31, 2021	$	327,171	$	11,939	$	13,704	$	6,531	$	359,345

Schedule of estimated useful lives for intangible assets

We provide for amortization primarily using the straight-line method by charges to income in amounts that allocate the intangible assets over their estimated useful lives as follows:


Asset Classification						Estimated Useful Life

Customer-related intangible assets (1)						3 to 17 years
Product rights (2)						5 to 15 years
Noncompete agreements						3 to 5 years

Schedule of intangible assets other than goodwill

Intangible assets other than goodwill consisted of the following:


(in thousands)	December 31, 2021						December 31, 2020
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net

Customer-related intangible assets (1)	$	121,936	$	38,349	$	83,587	$	80,810	$	32,838	$	47,972
Product rights (2)	17,350		5,332		12,018		15,150		11,609		3,541
Noncompete agreements	4,257		827		3,430		1,250		220		1,030
	$	143,543	$	44,508	$	99,035	$	97,210	$	44,667	$	52,543

The above table excludes fully amortized intangible assets for the periods presented.

(1)Customer-related intangible assets are comprised of customer lists and customer relationships acquired from third parties.

(2)Product rights comprise certain technologies, intellectual property, licenses, and trade names acquired from third parties.

Schedule of expected amortization expense

At December 31, 2021, the aggregate amortization expense associated with intangible assets is estimated to be as follows for each of the next five years and thereafter:


(in thousands)	Amortization Expense

2022	$	14,188
2023	12,430
2024	11,381
2025	10,633
2026	10,370
Thereafter	40,033
	$	99,035