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GOODWILL AND INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2022
GOODWILL AND INTANGIBLE ASSETS
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. GOODWILL AND INTANGIBLE ASSETS
The changes in the carrying amount of goodwill are as follows:
 
Balance at December 31, 2020
   $ 412,486  
Acquired goodwill
     21,291  
Foreign currency translation adjustment
     242  
    
 
 
 
Balance at December 31, 2021
     434,019  
Acquired goodwill
     60  
Allocation to intangible assets related to 2021 acquisition
 
 
(596 )
Foreign currency translation adjustment
     (2,772 )
 
    
 
 
 
Balance at December 31, 2022
  
$
430,711
 
    
 
 
 
Intangible assets are comprised of the
following:
 
December 31,
 
 
  
Estimated

Useful Lives
  
 
2022
 
  
2021
 
Indefinite lived intangible assets—Trade names, trademarks, and distribution rights
 
 
    
 
$
154,086
 
   $ 158,389  
Finite lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 
 
  
7-18 years
  
 
 
83,943
 
     86,526  
Patented and unpatented technology
 
 
  
7 years
 
 
 
1,611
 
     1,721  
Trade name
 
 
  
10 years
  
 
 
1,150
 
     1,150  
Accumulated amortization
 
 
       
 
 
(65,599
)
 
     (60,890
 
 
 
       
 
 
 
    
 
 
 
Finite lived intangible assets, net
 
 
       
 
 
21,105
 
     28,507  
 
 
 
       
 
 
 
    
 
 
 
 
 
 
       
 
$
175,191
 
   $ 186,896  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization expense related to finite lived intangible assets included in selling, general and administrative expenses for the years ended December 31, 2022, 2021, and 2020, were $4,709, $5,561, and $5,945, respectively.

 
Based on the finite lived intangible assets recorded at December 31, 2022, annual amortization for the next five years is expected to approximate the following:
 
2023
   $ 3,200  
2024
   $ 3,000  
2025
   $ 3,000  
2026
   $ 2,800  
2027
   $ 1,500