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GOODWILL AND OTHER INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 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

​

​

99,644

​

​

463

​

​

—

​

​

—

​

​

100,107

​

Foreign currency exchange effects

​

 

(473)

​

 

(1,175)

​

 

8

​

 

—

​

 

(1,640)

​

Goodwill

​

$

320,829

​

$

412,938

​

$

128,161

​

$

1,615

​

$

863,543

​

Accumulated impairment losses

​

 

—

​

 

—

​

 

—

​

 

(1,615)

​

 

(1,615)

​

Balance as of June 30, 2020

​

$

320,829

​

$

412,938

​

$

128,161

​

$

—

​

$

861,928

​

​

The table below shows a summary of intangible assets as of June 30, 2020 and December 31, 2019.

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 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

 

7.1

​

$

2,703

​

​

(1,334)

​

$

1,369

​

$

2,804

​

$

(1,318)

​

$

1,486

​

Acquired technology

 

12.6

​

 

105,020

​

​

(29,907)

​

 

75,113

​

 

100,511

​

 

(25,430)

​

 

75,081

​

Customer relationships

​

13.5

​

​

279,709

​

​

(43,561)

​

​

236,148

​

​

217,934

​

​

(33,924)

​

​

184,010

​

Trademarks and trade names

​

6.0

​

​

44,508

​

​

(13,568)

​

​

30,940

​

​

35,015

​

​

(11,003)

​

​

24,012

​

License agreements and other

 

15.5

​

 

22,480

​

​

(13,310)

​

 

9,170

​

 

16,153

​

 

(9,658)

​

 

6,495

​

Total intangible assets

 

12.6

​

$

454,420

​

$

(101,680)

​

$

352,740

​

$

372,417

​

$

(81,333)

​

$

291,084

​

​

Aggregate amortization expense for the intangible assets above for the quarters ended June 30, 2020 and 2019 was $12,320 and $6,386, respectively. Aggregate amortization expense for the intangible assets above for the six months ended June 30, 2020 and 2019 was $20,334 and $12,388, respectively.

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

​

​

​

​

​

​

2020

​

$

19,192

​

(remaining estimated amortization for 2020)

2021

​

 

37,723

​

​

2022

​

 

37,443

​

​

2023

​

 

37,362

​

​

2024 and thereafter

​

 

221,020

​

​

​

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 June 30, 2020.