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GOODWILL AND INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
In accordance with ASC Topic 350, “Intangibles – Goodwill and Other,” the Company performs its annual impairment test during the fourth quarter of each year. The Company also reviews goodwill for impairment whenever events or changes in circumstances indicate that the carrying value of its goodwill may not be recoverable. After the close of each interim quarter, management assesses whether there exists any indicators of impairment requiring the Company to perform an interim goodwill impairment analysis.

As of March 31, 2021, the Company assessed that no indicators of impairment existed requiring the performance of a goodwill interim impairment analysis. No goodwill impairment charges were recorded during the quarter ended March 31, 2021.

The following table presents the changes in goodwill by segment for the three months ended March 31, 2021:
RevlonPortfolioElizabeth ArdenFragrancesTotal
Balance at January 1, 2021$265.4 $87.9 $89.5 $120.9 $563.7 
Foreign currency translation adjustment(0.2)(0.1)(0.1)(0.1)(0.5)
Balance at March 31, 2021$265.2 $87.8 $89.4 $120.8 $563.2 
Cumulative goodwill impairment charges(a)
$(166.2)
(a) Amount refers to cumulative goodwill impairment charges related to impairments recognized in 2015, 2017, 2018 and 2020.

For the three months ended March 31, 2020, the Company recorded goodwill impairment charges of $99.8 million ($73.9 million in the Company's Portfolio segment and $25.9 million in the Company's Elizabeth Arden segment).

Intangible Assets, Net
Finite-Lived Intangibles
In accordance with ASC Topic 360, the Company makes judgments about the recoverability of its purchased finite-lived intangible assets whenever events or changes in circumstances indicate that an impairment to its finite-lived intangible assets may exist. The Company also considers several indicators of impairment, including, among other factors, the following: (i) whether there exists any significant adverse change in the extent or manner in which a long-lived asset and/or asset group is being used; (ii) whether there exists any projection or forecast demonstrating losses associated with the use of a long-lived asset and/or asset group; and (iii) whether there exists a current expectation that, more likely than not, a long-lived asset and/or asset group will be sold or otherwise disposed of significantly before the end of its previously-estimated useful life. The carrying amount of a finite-lived intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the finite-lived intangible asset and/or asset group and the impairment loss is measured as the amount by which the carrying amount of the finite-lived intangible asset exceeds its fair value.
As of March 31, 2021, the Company assessed that no indicators of impairment existed requiring the performance of a finite-lived intangibles interim impairment analysis.
No impairment charges were recognized related to the carrying value of any of the Company's finite-lived intangible assets as a result as of March 31, 2021 and March 31, 2020.
Indefinite-Lived Intangibles
As of March 31, 2021, the Company assessed that no indicators of impairment existed requiring the performance of an indefinite-lived intangibles interim impairment analysis. No intangibles impairment charges were recorded during the three months ended March 31, 2021.
For the three months ended March 31, 2020, the Company recorded indefinite-lived intangible assets impairment charges of $24.5 million ($2.5 million in the Company's Portfolio segment and $22.0 million in the Company's Elizabeth Arden segment).
The following tables present details of the Company's total intangible assets as of March 31, 2021 and December 31, 2020:
March 31, 2021
Gross Carrying AmountAccumulated AmortizationImpairmentNet Carrying AmountWeighted-Average Useful Life (in Years)
Finite-lived intangible assets:
Trademarks and licenses$271.7 $(131.8)$— $139.9 12
Customer relationships249.2 (113.7)— 135.5 11
Patents and internally-developed intellectual property23.6 (16.0)— 7.6 5
Distribution rights31.0 (7.9)— 23.1 14
Other1.3 (1.3)— — 0
Total finite-lived intangible assets$576.8 $(270.7)$— $306.1 
Indefinite-lived intangible assets:
Trade names$146.5 N/A$(33.1)$113.4 
Total indefinite-lived intangible assets$146.5 N/A$(33.1)$113.4 
Total intangible assets$723.3 $(270.7)$(33.1)$419.5 
December 31, 2020
Gross Carrying AmountAccumulated AmortizationImpairmentNet Carrying AmountWeighted-Average Useful Life (in Years)
Finite-lived intangible assets:
Trademarks and licenses$272.8 $(128.6)$— $144.2 12
Customer relationships249.9 (110.7)— 139.2 11
Patents and internally-developed intellectual property23.6 (15.6)— 8.0 5
Distribution rights31.0 (7.5)— 23.5 14
Other1.3 (1.3)— — 0
Total finite-lived intangible assets$578.6 $(263.7)$— $314.9 
Indefinite-lived intangible assets:
Trade names$149.0 N/A$(33.1)$115.9 
Total indefinite-lived intangible assets$149.0 N/A$(33.1)$115.9 
Total intangible assets$727.6 $(263.7)$(33.1)$430.8 

Amortization expense for finite-lived intangible assets was $8.4 million and $8.5 million for the three months ended March 31, 2021 and 2020, respectively.

The following table reflects the estimated future amortization expense for each period presented, a portion of which is subject to exchange rate fluctuations, for the Company's finite-lived intangible assets as of March 31, 2021:
Estimated Amortization Expense
2021$25.0 
202230.5 
202328.3 
202426.0 
202524.8 
Thereafter171.5 
Total$306.1