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INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The Company had goodwill in the amount of $526,257 and $523,998 as of September 30, 2020 and December 31, 2019, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.” The increase in goodwill is primarily due to foreign exchange translation adjustments and an adjustment related to the Zumbro acquisition, partially offset by an impairment of $1,228 related to business formerly included in the Industrial Products segment.
Identifiable intangible assets with finite lives at September 30, 2020 and December 31, 2019 are summarized as follows:
 Amortization
Period
(in years)
Gross Carrying Amount at
9/30/2020
Accumulated Amortization at
9/30/2020
Gross Carrying Amount at
12/31/2019
Accumulated Amortization at
12/31/2019
Customer relationships & lists
10-20
$241,505 $153,361 $239,578 $139,863 
Trademarks & trade names
2-17
43,154 23,821 43,102 20,477 
Developed technology
5-12
21,394 13,011 20,206 11,008 
Other
3-18
21,231 10,909 20,962 8,576 
 $327,284 $201,102 $323,848 $179,924 
Amortization of identifiable intangible assets was approximately $6,911 and $20,875 for the three and nine months ended September 30, 2020, respectively, and $6,753 and $18,723 for the three and nine months ended September 30, 2019, respectively. Assuming no change in the gross carrying value of identifiable intangible assets, estimated amortization expense is $6,911 for the remainder of 2020, $24,216 for 2021, $22,266 for 2022, $19,351 for 2023, $10,658 for 2024 and $6,412 for 2025. At September 30, 2020 and 2019, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the nine months ended September 30, 2020 and 2019.