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Goodwill and Other Intangible Assets, Net (Tables) | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Operating Segment | Goodwill Movements in goodwill during the years ended December 31, 2017, 2018 and 2019 were as follows:
(DOLLARS IN THOUSANDS) | Goodwill
Balance at January 1, 2017 | $ | 1,000,123 |
Acquisitions | 87,865 |
Foreign exchange | 32,920 |
Other(a) | 35,380 |
Balance at December 31, 2017 | 1,156,288 |
Acquisitions(b) | 4,253,541 |
Disposals | (19,069 | )
Foreign exchange | (12,372 | )
Balance at December 31, 2018 | 5,378,388 |
Acquisitions(c) | 98,411 |
Frutarom measurement period adjustment | 30,876 |
Foreign exchange | (10,079 | )
Balance at December 31, 2019 | $ | 5,497,596 |
_______________________
(a) | Other above principally represents the increase to Goodwill associated with the update of certain customer relationship assumptions in the final purchase price allocation of David Michael.
(b) | Primarily relates to the Company's acquisition of Frutarom.
(c) | Additions primarily relate to the 2019 Acquisition Activity. See Note 3 for details.
Goodwill by segment was as follows:
| December 31,
(DOLLARS IN THOUSANDS) | 2019 |  | 2018
Taste | $ | 527,785 |  |  | $ | 525,060 |
Scent | 623,373 |  |  | 618,878 |
Frutarom | 4,346,438 |  |  | 4,224,010 |
Unallocated | — |  |  | 10,440 |
Total | $ | 5,497,596 |  |  | $ | 5,378,388 |
Schedule of Reporting Units Based On Assumptions | Using the income approach and holding other assumptions constant, the following table provides the impact on the headroom by hypothetically changing key assumptions on a standalone basis for the Company's Savory and Taste reporting units as of November 30, 2019:
| Goodwill |  | Key Assumptions |  | Existing Headroom |  | Resulting Headroom
(DOLLARS IN MILLIONS) |  | Discount Rate |  | Terminal Growth |  |  | 50 bps Increase in Discount Rate |  | 50 bps Decline in Terminal Growth
Savory | $ | 1,205 |  |  | 7.5 | % |  | 3.0 | % |  | 8.3 | % |  | (3.4 | )% |  | (0.3 | )%
Taste | 1,662 |  |  | 7.5 | % |  | 3.0 | % |  | 7.5 | % |  | (3.6 | )% |  | (0.9 | )%
Schedule of Other Intangible Assets | Other intangible assets, net consisted of the following amounts:
| December 31,
(DOLLARS IN THOUSANDS) | 2019 |  | 2018
Asset Type |  |  |
Customer relationships | $ | 2,653,446 |  |  | $ | 2,658,659 |
Technological know-how | 468,256 |  |  | 451,016 |
Trade names & patents | 178,968 |  |  | 177,770 |
Other | 40,362 |  |  | 43,766 |
Total carrying value | 3,341,032 |  |  | 3,331,211 |
Accumulated Amortization |  |  |
Customer relationships | (302,047 | ) |  | (156,906 | )
Technological know-how | (135,269 | ) |  | (93,051 | )
Trade names & patents | (27,213 | ) |  | (19,593 | )
Other | (24,568 | ) |  | (22,339 | )
Total accumulated amortization | (489,097 | ) |  | (291,889 | )
Other intangible assets, net | $ | 2,851,935 |  |  | $ | 3,039,322 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Amortization expense for the next five years and thereafter, based on preliminary valuations and determinations of useful lives, is expected to be as follows:
| December 31,
(DOLLARS IN THOUSANDS) | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
Estimated future intangible amortization expense | $ | 189,896 |  |  | $ | 185,510 |  |  | $ | 181,698 |  |  | $ | 181,586 |  |  | $ | 181,586 |

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