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Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | Components of other intangible assets were as follows (dollars in thousands):
| Finite Life |  | Indefinite Life |  |
| Customer Relationships |  | Patents and Proprietary Technology |  | Trademarks, Trade Names and Other |  | Trade Names |  | Total
As of September 30, 2022 |  |  |  |  |  |  |  |  |
Cost | $ | 202,103 |  |  | $ | 26,574 |  |  | $ | 1,700 |  |  | $ | 62,633 |  |  | $ | 293,010 |
Accumulated amortization | (119,529) |  |  | (17,519) |  |  | (659) |  |  | — |  |  | (137,707) |
Foreign currency translation | (12,791) |  |  | (1,042) |  |  | — |  |  | (4,522) |  |  | (18,355) |
Book value | $ | 69,783 |  |  | $ | 8,013 |  |  | $ | 1,041 |  |  | $ | 58,111 |  |  | $ | 136,948 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
As of December 31, 2021 |  |  |  |  |  |  |  |  |
Cost | $ | 194,505 |  |  | $ | 26,074 |  |  | $ | 900 |  |  | $ | 62,633 |  |  | $ | 284,112 |
Accumulated amortization | (108,657) |  |  | (15,734) |  |  | (452) |  |  | — |  |  | (124,843) |
Foreign currency translation | (7,710) |  |  | (707) |  |  | — |  |  | (1,112) |  |  | (9,529) |
Book value | $ | 78,138 |  |  | $ | 9,633 |  |  | $ | 448 |  |  | $ | 61,521 |  |  | $ | 149,740 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
Future Amortization Expense | Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
| 2022 (Remainder) |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter
Estimated Amortization Expense | $ | 4,556 |  |  | $ | 16,860 |  |  | $ | 15,639 |  |  | $ | 15,071 |  |  | $ | 8,660 |  |  | $ | 18,051 |
Goodwill Rollforward | Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):
| Industrial |  | Process |  | Contractor |  | Total
Balance, December 31, 2021 | $ | 185,733 |  |  | $ | 141,304 |  |  | $ | 29,218 |  |  | $ | 356,255 |
Additions, adjustments from business acquisitions | — |  |  | 16,994 |  |  | — |  |  | 16,994 |
Foreign currency translation | (10,162) |  |  | (3,442) |  |  | — |  |  | (13,604) |
Balance, September 30, 2022 | $ | 175,571 |  |  | $ | 154,856 |  |  | $ | 29,218 |  |  | $ | 359,645 |

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- Definition Disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived and indefinite lived intangible assets by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References No definition available. + Details
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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
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