Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2020:

	Industrial			Agricultural			Consolidated
(in thousands)
Balance at December 31, 2019		$	183,307		$	14,715		$	198,022
Translation adjustment		740			(1,728)			(988)
Goodwill adjustment		(4,058)			—			(4,058)
Balance at September 30, 2020		$	179,989		$	12,987		$	192,976

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	September 30, 2020			December 31, 2019
Definite:
Trade names and trademarks	15-25 years		$	67,251		$	67,222
Customer and dealer relationships	8-15 years		122,168			121,508
Patents and drawings	3-12 years		28,520			28,485
Favorable leasehold interests	7 years		4,200			4,200
Total at cost			222,139			221,415
Less accumulated amortization			(31,673)			(20,643)
Total net			190,466			200,772
Indefinite:
Trade names and trademarks			5,500			5,500
Total Intangible Assets			$	195,966		$	206,272