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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the year ended December 31, 2020 are as follows by reporting segment:
| Pharma |  | Beauty + Home |  | Food + Beverage |  | Corporate & Other |  | Total
Goodwill | $ | 359,883 |  |  | $ | 223,933 |  |  | $ | 128,279 |  |  | $ | 1,615 |  |  | $ | 713,710 |
Accumulated impairment losses | — |  |  | — |  |  | — |  |  | (1,615) |  |  | (1,615) |
Balance as of December 31, 2018 | $ | 359,883 |  |  | $ | 223,933 |  |  | $ | 128,279 |  |  | $ | — |  |  | $ | 712,095 |
Acquisition | 57,934 |  |  | — |  |  | — |  |  | — |  |  | 57,934 |
Foreign currency exchange effects | (4,167) |  |  | (2,275) |  |  | (126) |  |  | — |  |  | (6,568) |
Goodwill | $ | 413,650 |  |  | $ | 221,658 |  |  | $ | 128,153 |  |  | $ | 1,615 |  |  | $ | 765,076 |
Accumulated impairment losses | — |  |  | — |  |  | — |  |  | (1,615) |  |  | (1,615) |
Balance as of December 31, 2019 | $ | 413,650 |  |  | $ | 221,658 |  |  | $ | 128,153 |  |  | $ | — |  |  | $ | 763,461 |
Acquisition | 463 |  |  | 103,130 |  |  | — |  |  | — |  |  | 103,593 |
Foreign currency exchange effects | 22,618 |  |  | 8,323 |  |  | 526 |  |  | — |  |  | 31,467 |
Goodwill | $ | 436,731 |  |  | $ | 333,111 |  |  | $ | 128,679 |  |  | $ | 1,615 |  |  | $ | 900,136 |
Accumulated impairment losses | — |  |  | — |  |  | — |  |  | (1,615) |  |  | (1,615) |
Balance as of December 31, 2020 | $ | 436,731 |  |  | $ | 333,111 |  |  | $ | 128,679 |  |  | $ | — |  |  | $ | 898,521 |
We have completed the annual impairment analysis of our reporting units as of October 1, 2020 using a discounted cash flow analysis for each of our reporting units. 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 it was more likely than not that the fair value of these reporting units was greater than their carrying amounts. No impairment was recognized during the years ended December 31, 2020, 2019 or 2018. The table below shows a summary of intangible assets for the years ended December 31, 2020 and 2019.
|  |  | 2020 |  | 2019
| Weighted Average Amortization Period (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Value
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Patents | 7.2 |  | $ | 2,861 |  |  | $ | (1,477) |  |  | $ | 1,384 |  |  | $ | 2,804 |  |  | $ | (1,318) |  |  | $ | 1,486 |
Acquired technology | 12.6 |  | 111,854 |  |  | (36,943) |  |  | 74,911 |  |  | 100,511 |  |  | (25,430) |  |  | 75,081 |
Customer relationships | 13.3 |  | 286,644 |  |  | (56,714) |  |  | 229,930 |  |  | 217,934 |  |  | (33,924) |  |  | 184,010 |
Trademarks and trade names | 6.3 |  | 46,174 |  |  | (17,437) |  |  | 28,737 |  |  | 35,015 |  |  | (11,003) |  |  | 24,012 |
License agreements and other | 19.3 |  | 19,208 |  |  | (9,861) |  |  | 9,347 |  |  | 16,153 |  |  | (9,658) |  |  | 6,495 |
Total intangible assets | 12.6 |  | $ | 466,741 |  |  | $ | (122,432) |  |  | $ | 344,309 |  |  | $ | 372,417 |  |  | $ | (81,333) |  |  | $ | 291,084 |
Aggregate amortization expense for the intangible assets above for the years ended December 31, 2020, 2019 and 2018 was $39,787, $27,608 and $15,455, respectively. Future estimated amortization expense for the years ending December 31 is as follows:
2021 | $ | 40,195 |
2022 | 39,615 |
2023 | 38,728 |
2024 | 34,954 |
2025 and thereafter | 190,817 |
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, 2020.

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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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