GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the year ended December 31, 2020 are as follows by reporting segment:


	Pharma		Beauty + Home		Food + Beverage		Corporate & Other		Total

Goodwill	$	359,883	$	223,933	$	128,279	$	1,615	$	713,710
Accumulated impairment losses	—		—		—		(1,615)		(1,615)
Balance as of December 31, 2018	$	359,883	$	223,933	$	128,279	$	—	$	712,095
Acquisition	57,934		—		—		—		57,934

Foreign currency exchange effects	(4,167)		(2,275)		(126)		—		(6,568)
Goodwill	$	413,650	$	221,658	$	128,153	$	1,615	$	765,076
Accumulated impairment losses	—		—		—		(1,615)		(1,615)
Balance as of December 31, 2019	$	413,650	$	221,658	$	128,153	$	—	$	763,461
Acquisition	463		103,130		—		—		103,593
Foreign currency exchange effects	22,618		8,323		526		—		31,467
Goodwill	$	436,731	$	333,111	$	128,679	$	1,615	$	900,136
Accumulated impairment losses	—		—		—		(1,615)		(1,615)
Balance as of December 31, 2020	$	436,731	$	333,111	$	128,679	$	—	$	898,521

We have completed the annual impairment analysis of our reporting units as of October 1, 2020 using a discounted cash flow analysis for each of our reporting units. Based on our review of macroeconomic, industry, and market events and circumstances as well as the overall financial performance of the reporting units, we determined that it was more likely than not that the fair value of these reporting units was greater than their carrying amounts. No impairment was recognized during the years ended December 31, 2020, 2019 or 2018.

The table below shows a summary of intangible assets for the years ended December 31, 2020 and 2019.


		2020						2019
	Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization		Net Value		Gross Carrying Amount		Accumulated Amortization		Net Value
Amortized intangible assets:
Patents	7.2	$	2,861	$	(1,477)	$	1,384	$	2,804	$	(1,318)	$	1,486
Acquired technology	12.6	111,854		(36,943)		74,911		100,511		(25,430)		75,081
Customer relationships	13.3	286,644		(56,714)		229,930		217,934		(33,924)		184,010
Trademarks and trade names	6.3	46,174		(17,437)		28,737		35,015		(11,003)		24,012
License agreements and other	19.3	19,208		(9,861)		9,347		16,153		(9,658)		6,495
Total intangible assets	12.6	$	466,741	$	(122,432)	$	344,309	$	372,417	$	(81,333)	$	291,084

Aggregate amortization expense for the intangible assets above for the years ended December 31, 2020, 2019 and 2018 was $39,787, $27,608 and $15,455, respectively.

Future estimated amortization expense for the years ending December 31 is as follows:


2021	$	40,195
2022	39,615
2023	38,728
2024	34,954
2025 and thereafter	190,817

Future amortization expense may fluctuate depending on changes in foreign currency rates. The estimates for amortization expense noted above are based upon foreign exchange rates as of December 31, 2020.