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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2021
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, 2021 and 2020 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | The Harris |  | ​ | ​
​ | ​ | Americas | ​ | International | ​ | Products | ​ | ​ | ​
​ |  | Welding |  | Welding |  | Group |  | Consolidated
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
Additions and adjustments (1) | ​ |  | — | ​ |  | 77,317 | ​ |  | 26,519 | ​ |  | 103,836
Foreign currency translation | ​ |  | 173 | ​ |  | (9,284) | ​ |  | (156) | ​ |  | (9,267)
Balance as of December 31, 2021 | ​ | $ | 279,983 | ​ | $ | 107,093 | ​ | $ | 43,086 | ​ | $ | 430,162
​
(1) | Additions to International Welding reflect goodwill recognized in the acquisition of Zeman in 2021. Additions to The Harris Products Group reflect goodwill recognized in the acquisition of FTP in 2021.
Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2020
​ | ​ | Gross |  | Accumulated |  | Gross |  | Accumulated
​ |  | Amount |  | Amortization |  | Amount |  | Amortization
Intangible assets not subject to amortization | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Trademarks and trade names | ​ | $ | 15,828 |  | ​ |  | ​ | $ | 15,495 |  | ​ |
Intangible assets subject to amortization | ​ |  |  |  | ​ |  | ​ |  |  |  | ​ |
Trademarks and trade names | ​ | $ | 72,755 | ​ | $ | 44,623 | ​ | $ | 71,594 | ​ | $ | 39,906
Customer relationships | ​ |  | 154,634 | ​ |  | 92,404 | ​ |  | 137,564 | ​ |  | 84,720
Patents | ​ |  | 24,734 | ​ |  | 15,058 | ​ |  | 25,907 | ​ |  | 15,006
Other | ​ |  | 83,223 | ​ |  | 49,696 | ​ |  | 69,188 | ​ |  | 45,665
Total intangible assets subject to amortization | ​ | $ | 335,346 | ​ | $ | 201,781 | ​ | $ | 304,253 | ​ | $ | 185,297
​ During 2021, the Company acquired intangible assets either individually or as part of a group of assets, with an initial purchase price allocation and weighted-average as follows: ​
​ | ​ | ​ | ​ | ​
​ | Year Ended December 31, 2021
​ | Purchase Price | ​ | Weighted
​ | Allocation |  | Average Life
Acquired intangible assets subject to amortization |  |  |  |
Trademarks and trade names | $ | 5,207 |  | 10
Customer relationships |  | 24,652 |  | 10
Other |  | 16,361 |  | 9
Total acquired intangible assets subject to amortization | $ | 46,220 |  |
​ Aggregate amortization expense was $21,155, $20,363 and $20,755 for 2021, 2020 and 2019, 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 $45,468 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 $21,059 in 2022, $18,572 in 2023, $16,960 in 2024, $16,086 in 2025 and $15,231 in 2026.

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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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