Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill consisted of the following:


	At March 31,				At December 31,
(in thousands)	2022		2021		2021
North America	$	96,359	$	96,340	$	96,307
Europe	35,864		35,684		36,331
Asia/Pacific	1,428		1,453		1,384
Total	$	133,651	$	133,477	$	134,022

Amortizable intangible assets, net, consisted of the following:


	At March 31, 2022
	Gross				Net
	Carrying		Accumulated		Carrying
(in thousands)	Amount		Amortization		Amount
North America	$	46,642	$	(27,205)	$	19,437
Europe	26,274		(20,690)		5,584
Total	$	72,916	$	(47,895)	$	25,021


	At March 31, 2021
	Gross				Net
(in thousands)	Carrying Amount		Accumulated Amortization		Carrying Amount
North America	$	40,785	$	(23,724)	$	17,061
Europe	26,347		(18,349)		7,998
Total	$	67,132	$	(42,073)	$	25,059


	At December 31, 2021
	Gross				Net
(in thousands)	Carrying Amount		Accumulated Amortization		Carrying Amount
North America	$	46,643	$	(26,346)	$	20,297
Europe	26,371		(20,399)		5,972
Total	$	73,014	$	(46,745)	$	26,269

Intangible assets consist of definite-lived and indefinite-lived assets. Definite-lived intangible assets include customer relationships, patents, unpatented technology, and non-compete agreements. Amortization expense of definite-lived intangible assets was $1.1 million and $1.7 million for the three months ended March 31, 2022 and 2021, respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 8.3 years.

The only indefinite-lived intangible asset, consisting of a trade name, totaled $0.6 million at March 31, 2022.

At March 31, 2022, the estimated future amortization of definite-lived intangible assets was as follows:


(in thousands)

Remaining nine months of 2022	$	3,553
2023	3,740
2024	2,809
2025	2,523
2026	1,840
2027	1,690
Thereafter	8,250
	$	24,405

The changes in the carrying amount of goodwill and intangible assets for the three months ended March 31, 2022, were as follows:


			Intangible
(in thousands)	Goodwill		Assets
Balance at December 31, 2021	$	134,022	$	26,269


Amortization	—		(1,149)
Foreign exchange	(371)		(99)
Balance at March 31, 2022	$	133,651	$	25,021