. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table sets forth the changes in the carrying value of goodwill:



	Year Ended December 31,
	2018			2017
	(In thousands)
Beginning balance January 1	$	1,771,877		$	1,730,950
Foreign currency exchange rate changes	(49,274		)	40,927
Ending balance December 31	$	1,722,603		$	1,771,877

Intangible Assets

The components of intangible assets are as follows:



		December 31, 2018							December 31, 2017
	Life	Gross Carrying Amount ⁽¹⁾		Accumulated Amortization ⁽¹⁾			Net Carrying Amount		Gross Carrying Amount ⁽¹⁾		Accumulated Amortization ⁽¹⁾			Net Carrying Amount
		(In thousands)
Intangible assets:
Trademarks	Indefinite	$	96,260	$	—		$	96,260	$	100,249	$	—		$	100,249
Trademarks	4-15	25,185		(7,585		)	17,600		25,118		(5,516		)	19,602
Non-compete agreements	2-7	196		(141		)	55		196		(102		)	94
Customer relationships	2-20	358,620		(180,395		)	178,225		377,270		(161,711		)	215,559
Distribution agreements	10-19	36,984		(22,562		)	14,422		39,515		(22,200		)	17,315
Patents	10	48,310		(38,856		)	9,454		48,310		(34,025		)	14,285
		$	565,555	$	(249,539	)	$	316,016	$	590,658	$	(223,554	)	$	367,104


⁽¹⁾	Excludes the original cost and related accumulated amortization of fully-amortized intangible assets.

Amortization expense related to intangible assets totaled $35.9 million, $37.8 million and $39.1 million for the years ended December 31, 2018, 2017 and 2016, respectively.

The following table sets forth the estimated amortization expense for intangible assets for the next five years and thereafter:



For the year ending December 31,	(In thousands)
2019	$	35,269
2020	33,417
2021	25,809
2022	23,431
2023	22,877
Thereafter	78,953