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Intangibles (Net of Amortization) and Goodwill
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles (Net of Amortization) and Goodwill Intangibles (Net of Amortization) and Goodwill
The net carrying amount of intangibles and goodwill was $130 million at December 31, 2020 and $132 million at December 31, 2019. The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below.
 December 31,
 20202019
(in thousands)
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Amortizing intangible assets
Formulas and technology$6,200 $3,617 $9,600 $5,416 
Contract2,000 800 2,000 600 
Customer bases14,240 12,037 14,240 10,931 
Goodwill123,958 122,987 
$146,398 $16,454 $148,827 $16,947 
Aggregate amortization expense$2,907 $4,206 
Aggregate amortization expense was $7 million in 2018. All of the intangibles relate to the petroleum additives segment. The change in the gross carrying amount between 2019 and 2020 was due to foreign currency fluctuations, as well as the following:
•A formulas and technology intangible asset became fully amortized in 2020, resulting in a decrease in the gross carrying amount and accumulated amortization.
•In May 2020, we completed the purchase of the remaining outstanding capital stock of Aditivos Mexicanos, S.A. de C.V. (AMSA), which we acquired in 2017. The prior noncontrolling interest represented by the outstanding capital stock of AMSA was not material.
There is no accumulated goodwill impairment.
Estimated annual amortization expense related to our intangible assets for the next five years is expected to be (in thousands):
2021$2,156 
20221,423 
2023907 
2024390 
2025390 
We amortize the contract over 10 years; customer bases over 4 years to 20 years; and formulas and technology over 6 years.