Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes to The Company's Goodwill

The following is the summary of changes to the Company's Goodwill for the three months ended March 31, 2020:

	Industrial			Agricultural			Consolidated
(in thousands)
Balance at December 31, 2019		$	183,307		$	14,715		$	198,022
Translation adjustment		(1,247)			(1,893)			(3,140)
Goodwill adjustment		679			—			679
Balance at March 31, 2020		$	182,739		$	12,822		$	195,561

Schedule of Definite and Indefinite Lived Intangible Assets

The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:

(in thousands)	Estimated Useful Lives	March 31, 2020			December 31, 2019
Definite:
Trade names and trademarks	15-25 years		$	66,734		$	67,222
Customer and dealer relationships	8-15 years		121,888			121,508
Patents and drawings	3-12 years		28,255			28,485
Favorable leasehold interests	7 years		4,200			4,200
Total at cost			221,077			221,415
Less accumulated amortization			(24,233)			(20,643)
Total net			196,844			200,772
Indefinite:
Trade names and trademarks			5,500			5,500
Total Intangible Assets			$	202,344		$	206,272