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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2020
GOODWILL AND INTANGIBLES |
GOODWILL AND INTANGIBLES | NOTE 5 – GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2020 and 2019 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | The Harris |  | ​ | ​
​ | ​ | Americas | ​ | International | ​ | Products | ​ | ​ | ​
​ |  | Welding |  | Welding |  | Group |  | Consolidated
Balance as of December 31, 2018 | ​ | $ | 239,215 | ​ | $ | 24,248 | ​ | $ | 17,831 | ​ | $ | 281,294
Additions and adjustments (1) | ​ |  | 37,346 | ​ |  | 17,254 | ​ |  | (613) | ​ |  | 53,987
Foreign currency translation | ​ |  | 1,935 | ​ |  | (28) | ​ |  | (81) | ​ |  | 1,826
Balance as of December 31, 2019 | ​ |  | 278,496 | ​ |  | 41,474 | ​ |  | 17,137 | ​ |  | 337,107
Additions and adjustments | ​ |  | — | ​ |  | 697 | ​ |  | (101) | ​ |  | 596
Foreign currency translation | ​ |  | 1,314 | ​ |  | (3,111) | ​ |  | (313) | ​ |  | (2,110)
Balance as of December 31, 2020 | ​ | $ | 279,810 | ​ | $ | 39,060 | ​ | $ | 16,723 | ​ | $ | 335,593
​
(1) | Additions to Americas Welding reflect goodwill recognized in the acquisition of Baker in 2019. Additions to International Welding reflect goodwill recognized in the acquisition of Askaynak in 2019.
Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020 | ​ | December 31, 2019
​ |  | Gross |  | Accumulated |  | Gross |  | Accumulated
​ |  | Amount |  | Amortization |  | Amount |  | Amortization
Intangible assets not subject to amortization | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Trademarks and trade names | ​ | $ | 15,495 |  | ​ |  | ​ | $ | 22,020 |  | ​ |
Intangible assets subject to amortization | ​ |  |  |  | ​ |  | ​ |  |  |  | ​ |
Trademarks and trade names | ​ | $ | 71,594 | ​ | $ | 39,906 | ​ | $ | 65,957 | ​ | $ | 31,284
Customer relationships | ​ |  | 137,564 | ​ |  | 84,720 | ​ |  | 140,198 | ​ |  | 62,242
Patents | ​ |  | 25,907 | ​ |  | 15,006 | ​ |  | 25,931 | ​ |  | 13,633
Other | ​ |  | 69,188 | ​ |  | 45,665 | ​ |  | 70,463 | ​ |  | 39,612
Total intangible assets subject to amortization | ​ | $ | 304,253 | ​ | $ | 185,297 | ​ | $ | 302,549 | ​ | $ | 146,771
​ Aggregate amortization expense was $20,363, $20,755 and $15,744 for 2020, 2019 and 2018, respectively. During the second quarter of 2020, the Company determined that for certain intangible assets, the carrying value of the assets exceeded the fair value resulting in an impairment. The Company recognized non-cash impairment charges of $17,337 which are recorded in Rationalization and asset impairment charges in the Company’s Consolidated Statements of Income. Estimated annual amortization expense for intangible assets for each of the next five years is $19,206 in 2021, $17,911 in 2022, $15,305 in 2023, $13,786 in 2024 and $12,900 in 2025.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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