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Goodwill and Other Intangible Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Movements in Goodwill | Movements in goodwill during 2020 were as follows:
(DOLLARS IN THOUSANDS) | Goodwill
Balance at December 31, 2019 | $ | 5,497,596 |
Measurement period adjustments(1) | (15,283) |
Foreign exchange | (54,831) |
Balance at September 30, 2020 | $ | 5,427,482 |
_______________________ (1)Measurement period adjustments relate to adjustments recorded in connection with completing the purchase price allocation related to the 2019 Acquisition Activity. See Note 3 for details. As a result of the movements, Goodwill was reallocated between reporting units as follows:
(DOLLARS IN THOUSANDS) | Increase (decrease) to Goodwill
Cosmetic Active Ingredients | $ | 85,235 |
Natural Product Solutions | (57,102) |
Fine Ingredients | (25,256) |
Taste | (2,877) |
Total | $ | — |
See Note 10 for further information on the reorganization.
Schedule of Other Intangible Assets, Net | Other intangible assets, net consisted of the following amounts:
| September 30, |  | December 31,
(DOLLARS IN THOUSANDS) | 2020 |  | 2019
Asset Type |  |  |
Customer relationships | $ | 2,639,670 |  |  | $ | 2,653,446 |
Trade names & patents | 180,173 |  |  | 178,968 |
Technological know-how | 466,154 |  |  | 468,256 |
Other | 2,489 |  |  | 40,362 |
Total carrying value | 3,288,486 |  |  | 3,341,032 |
Accumulated Amortization |  |  |
Customer relationships | (422,395) |  |  | (302,047) |
Trade names & patents | (35,015) |  |  | (27,213) |
Technological know-how | (155,893) |  |  | (135,269) |
Other | 299 |  |  | (24,568) |
Total accumulated amortization | (613,004) |  |  | (489,097) |
Other intangible assets, net | $ | 2,675,482 |  |  | $ | 2,851,935 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Amortization expense for the next five years is expected to be as follows:
(DOLLARS IN THOUSANDS) | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
Estimated future intangible amortization expense | $ | 48,270 |  |  | $ | 190,415 |  |  | $ | 186,485 |  |  | $ | 186,368 |  |  | $ | 186,368 |

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