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GOODWILL AND OTHER INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by reporting segment since December 31, 2019 are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Beauty +

 

​

​

 

Food +

 

Corporate

 

​

​

 

​

​

Home

​

Pharma

​

Beverage

​

& Other

​

Total

 

Goodwill

​

$

221,658

​

$

413,650

​

$

128,153

​

$

1,615

​

$

765,076

​

Accumulated impairment losses

​

​

—

​

 

—

​

 

—

​

 

(1,615)

​

 

(1,615)

​

Balance as of December 31, 2019

​

$

221,658

​

$

413,650

​

$

128,153

​

$

—

​

$

763,461

​

Acquisition

​

​

—

​

​

463

​

​

—

​

​

—

​

​

463

​

Foreign currency exchange effects

​

 

(2,201)

​

 

(5,543)

​

 

(99)

​

 

—

​

 

(7,843)

​

Goodwill

​

$

219,457

​

$

408,570

​

$

128,054

​

$

1,615

​

$

757,696

​

Accumulated impairment losses

​

 

—

​

 

—

​

 

—

​

 

(1,615)

​

 

(1,615)

​

Balance as of March 31, 2020

​

$

219,457

​

$

408,570

​

$

128,054

​

$

—

​

$

756,081

​

​

The table below shows a summary of intangible assets as of March 31, 2020 and December 31, 2019.

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2020

​

​

December 31, 2019

​

Weighted Average

​

Gross

​

​

​

​

​

​

​

Gross

​

​

​

​

​

​

 

Amortization Period

​

Carrying

​

Accumulated

​

Net

​

Carrying

​

Accumulated

​

Net

 

​

    

(Years)

    

Amount

    

Amortization

    

Value

    

Amount

    

Amortization

    

Value

 

Amortized intangible assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Patents

 

7.9

​

$

3,001

​

​

(1,304)

​

$

1,697

​

$

2,804

​

$

(1,318)

​

$

1,486

​

Acquired technology

 

13.0

​

 

99,437

​

​

(27,143)

​

 

72,294

​

 

100,511

​

 

(25,430)

​

 

75,081

​

Customer relationships

​

13.7

​

​

216,198

​

​

(37,774)

​

​

178,424

​

​

217,934

​

​

(33,924)

​

​

184,010

​

Trademarks and trade names

​

6.9

​

​

34,131

​

​

(11,919)

​

​

22,212

​

​

35,015

​

​

(11,003)

​

​

24,012

​

License agreements and other

 

17.6

​

 

19,671

​

​

(10,177)

​

 

9,494

​

 

16,153

​

 

(9,658)

​

 

6,495

​

Total intangible assets

 

13.0

​

$

372,438

​

$

(88,317)

​

$

284,121

​

$

372,417

​

$

(81,333)

​

$

291,084

​

​

Aggregate amortization expense for the intangible assets above for the quarters ended March 31, 2020 and 2019 was $8,014 and $6,002, respectively.

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

​

​

​

​

​

​

2020

​

$

20,725

​

(remaining estimated amortization for 2020)

2021

​

 

27,154

​

​

2022

​

 

26,915

​

​

2023

​

 

26,835

​

​

2024 and thereafter

​

 

182,492

​

​

​

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 March 31, 2020.