XML 21 R11.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net (Notes)
 3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, Net
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Goodwill
Movements in goodwill during 2019 were as follows:
(DOLLARS IN THOUSANDS)
Goodwill
Balance at December 31, 2018
$
5,378,388

Acquisitions(1)
61,711

Frutarom measurement period adjustment
(3,579
)
Foreign exchange
(2,520
)
Balance at March 31, 2019
$
5,434,000


_______________________ 
(1)
Additions relate to the 2019 acquisition activity. See Note 3 for details.
Other Intangible Assets
Other intangible assets, net consisted of the following amounts: 
 
March 31,
 
December 31,
(DOLLARS IN THOUSANDS)
2019
 
2018
Asset Type
 
 
 
Customer relationships
$
2,638,998

 
$
2,658,659

Trade names & patents
177,566

 
177,770

Technological know-how
463,989

 
451,016

Other
33,009

 
43,766

Total carrying value
3,313,562

 
3,331,211

Accumulated Amortization
 
 
 
Customer relationships
(193,263
)
 
(156,906
)
Trade names & patents
(21,760
)
 
(19,593
)
Technological know-how
(106,181
)
 
(93,051
)
Other
(18,181
)
 
(22,339
)
Total accumulated amortization
(339,385
)
 
(291,889
)
Other intangible assets, net
$
2,974,177

 
$
3,039,322


 
Amortization
Amortization expense was $47,625 and $9,185 for the three months ended March 31, 2019 and 2018, respectively.
Amortization expense for the next five years and thereafter, based on preliminary valuations and determinations of useful lives, is expected to be as follows:
(DOLLARS IN THOUSANDS)
2019
 
2020
 
2021
 
2022
 
2023
Estimated future intangible amortization expense
$
190,281

 
$
185,492

 
$
180,661

 
$
176,734

 
$
176,621