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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2016
GOODWILL AND OTHER INTANGIBLE ASSETS |
GOODWILL AND OTHER INTANGIBLE ASSETS | N OTE 3 GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the year ended December 31, 2016 are as follows by reporting segment:
|  | Beauty + |  |  |  |  | Food + |  | Corporate |  |  |  |
|  | Home |  | Pharma |  | Beverage |  | & Other |  | Total |
Balance as of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 171,149 |  | $ | 141,592 |  | $ | 17,000 |  | $ | 1,615 |  | $ | 331,356 |
Accumulated impairment losses |  |  | — |  |  | — |  |  | — |  |  | (1,615) |  |  | (1,615) |
|  | $ | 171,149 |  | $ | 141,592 |  | $ | 17,000 |  | $ | — |  | $ | 329,741 |
Foreign currency exchange effects |  |  | (6,559) |  |  | (12,232) |  |  | (710) |  |  | — |  |  | (19,501) |
Balance as of December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 164,590 |  | $ | 129,360 |  | $ | 16,290 |  | $ | 1,615 |  | $ | 311,855 |
Accumulated impairment losses |  |  | — |  |  | — |  |  | — |  |  | (1,615) |  |  | (1,615) |
|  | $ | 164,590 |  | $ | 129,360 |  | $ | 16,290 |  | $ | — |  | $ | 310,240 |
Acquisition |  |  | 49,735 |  |  | 55,827 |  |  | — |  |  | — |  |  | 105,562 |
Foreign currency exchange effects |  |  | (2,954) |  |  | (5,137) |  |  | (189) |  |  | — |  |  | (8,280) |
Balance as of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 211,371 |  | $ | 180,050 |  | $ | 16,101 |  | $ | 1,615 |  | $ | 409,137 |
Accumulated impairment losses |  |  | — |  |  | — |  |  | — |  |  | (1,615) |  |  | (1,615) |
|  | $ | 211,371 |  | $ | 180,050 |  | $ | 16,101 |  | $ | — |  | $ | 407,522 |
The Company has completed the annual impairment analysis of its reporting units as of December 31, 2016 using both a discounted cash flow analysis and market multiple approach. Based on our review of macroeconomic, industry, and market events and circumstances as well as the overall financial performance of the reporting units, we determined that the fair value of goodwill was greater than its carrying amount for all four reporting units. Therefore, no impairment of goodwill has been recorded. The table below shows a summary of intangible assets for the years ended December 31, 2016 and 2015.
|  |  |  | 2016 |  |  | 2015 |
Weighted Average |  | Gross |  |  |  |  |  |  |  | Gross |  |  |  |  |  |  |
Amortization Period |  | Carrying |  | Accumulated |  | Net |  | Carrying |  | Accumulated |  | Net |
|  | (Years) |  | Amount |  | Amortization |  | Value |  | Amount |  | Amortization |  | Value |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | 0.2 |  | $ | 6,859 |  | $ | (6,839) |  | $ | 20 |  | $ | 15,358 |  | $ | (15,330) |  | $ | 28 |
Acquired technology |  | 14.9 |  |  | 41,731 |  |  | (10,040) |  |  | 31,691 |  |  | 32,030 |  |  | (7,475) |  |  | 24,555 |
Customer relationships |  | 11.8 |  |  | 63,006 |  |  | (6,696) |  |  | 56,310 |  |  | 6,406 |  |  | (1,493) |  |  | 4,913 |
License agreements and other |  | 8.0 |  |  | 18,516 |  |  | (12,048) |  |  | 6,468 |  |  | 21,222 |  |  | (19,189) |  |  | 2,033 |
Total intangible assets |  | 11.7 |  | $ | 130,112 |  | $ | (35,623) |  | $ | 94,489 |  | $ | 75,016 |  | $ | (43,487) |  | $ | 31,529 |
Aggregate amortization expense for the intangible assets above for the years ended December 31, 2016, 2015 and 2014 was $9,317, $4,246 and $5,325, respectively. Estimated amortization expense for the years ending December 31 is as follows:
2017 |  | $ | 9,669
2018 |  |  | 9,659
2019 |  |  | 9,493
2020 |  |  | 8,393
2021 and thereafter |  |  | 57,275
Future amortization expense may fluctuate depending on changes in foreign currency rates. The estimates for amortization expense noted above are based upon foreign exchange rates as of December 31, 2016.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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