XML 55 R38.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020 are as follows:
| FPD |  | FCD |  | Total
| (Amounts in thousands)
Balance as of December 31, 2019 | $ | 786,630 |  |  | $ | 406,380 |  |  | $ | 1,193,010 |
Currency translation and other | 18,425 |  |  | 13,451 |  |  | 31,876 |
Balance as of December 31, 2020 | $ | 805,055 |  |  | $ | 419,831 |  |  | $ | 1,224,886 |
Currency translation and other | (17,842) |  |  | (10,565) |  |  | (28,407) |
Balance as of December 31, 2021 | $ | 787,213 |  |  | $ | 409,266 |  |  | $ | 1,196,479 |
Schedule of Changes in Intangible Assets | The following table provides information about our intangible assets for the years ended December 31, 2021 and 2020:
|  |  | December 31, 2021 |  | December 31, 2020
| Useful Life (Years) |  | Ending Gross Amount |  | Accumulated Amortization |  | Ending Gross Amount |  | Accumulated Amortization
| (Amounts in thousands, except years)
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Engineering drawings(1) | 10-22 |  | $ | 89,699 |  |  | $ | (86,275) |  |  | $ | 90,638 |  |  | $ | (83,620) |
Existing customer relationships(2) | 5-10 |  | 82,420 |  |  | (67,279) |  |  | 85,214 |  |  | (62,796) |
Patents | 9-16 |  | 26,339 |  |  | (26,339) |  |  | 27,015 |  |  | (27,015) |
Other | 4-40 |  | 93,849 |  |  | (46,436) |  |  | 93,923 |  |  | (43,633) |
|  |  | $ | 292,307 |  |  | $ | (226,329) |  |  | $ | 296,790 |  |  | $ | (217,064) |
Indefinite-lived intangible assets(3) |  |  | $ | 88,069 |  |  | $ | (1,585) |  |  | $ | 90,355 |  |  | $ | (1,585) |
____________________________________ (1)Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics. (2)Existing customer relationships acquired prior to 2011 had a useful life of five years. (3)Accumulated amortization for indefinite-lived intangible assets relates to amounts recorded prior to the implementation date of guidance issued in ASC 350.
Schedule of Actual and Estimated Future Amortization of Finite-Lived Intangible Assets | The following schedule outlines actual amortization expense recognized during 2021 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2021:
| Amortization Expense
| (Amounts in thousands)
Actual for year ended December 31, 2021 | $ | 13,435 |
Estimated for year ended December 31, 2022 | 11,150 |
Estimated for year ended December 31, 2023 | 8,597 |
Estimated for year ended December 31, 2024 | 6,839 |
Estimated for year ended December 31, 2025 | 2,098 |
Estimated for year ended December 31, 2026 | 1,876 |
Thereafter | 35,419 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration