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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill were as follows:
(dollars in millions) | Electronics |  | Industrial & Specialty |  | Total
Balance at December 31, 2019 | $ | 1,223.4 |  |  | $ | 956.2 |  | (1) | $ | 2,179.6 |
Purchase accounting adjustments (2) | (1.7) |  |  | — |  |  | (1.7) |
Foreign currency translation | (12.6) |  |  | (31.4) |  |  | (44.0) |
Balance at June 30, 2020 | $ | 1,209.1 |  |  | $ | 924.8 |  |  | $ | 2,133.9 |
(1) Includes accumulated impairment losses of $46.6 million. (2) During the second quarter of 2020, the Company recorded a step-up of fixed assets of $1.4 million for the Kester Acquisition. The impact of this acquisition on the Company's results of operations was not material. Indefinite-Lived Intangible Assets The carrying value of indefinite-lived intangible assets other than goodwill, which consisted solely of tradenames, was $68.0 million and $104 million at June 30, 2020 and December 31, 2019, respectively. During the first quarter of 2020, the Company determined that the useful life of one of its tradenames no longer met the criteria of an indefinite-lived asset and concluded no indication of impairment. Subsequently, the Company started amortizing this tradename over 15 years, consistent with other similar finite-lived assets. Finite-Lived Intangible Assets Intangible assets subject to amortization were as follows:
| June 30, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
(dollars in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
Customer lists | $ | 936.4 |  |  | $ | (378.3) |  |  | $ | 558.1 |  |  | $ | 959.1 |  |  | $ | (351.4) |  |  | $ | 607.7 |
Developed technology | 373.7 |  |  | (210.3) |  |  | 163.4 |  |  | 380.5 |  |  | (194.8) |  |  | 185.7 |
Tradenames | 86.8 |  |  | (7.7) |  |  | 79.1 |  |  | 51.5 |  |  | (4.9) |  |  | 46.6 |
Non-compete agreements | — |  |  | — |  |  | — |  |  | 1.6 |  |  | (1.6) |  |  | — |
Total | $ | 1,396.9 |  |  | $ | (596.3) |  |  | $ | 800.6 |  |  | $ | 1,392.7 |  |  | $ | (552.7) |  |  | $ | 840.0 |
For the three months ended June 30, 2020 and 2019, the Company recorded amortization expense on intangible assets of $28.9 million and $28.4 million, respectively. For the six months ended June 30, 2020 and 2019, the Company recorded amortization expense on intangible assets of $58.3 million and $56.8 million, respectively. On March 9, 2020, the Company acquired a new subsea production control fluid designed to complement its Energy Solutions business for a purchase price of $6.3 million in cash. The Company may pay an additional $4.5 million upon the achievement of certain milestones associated with the potential certification and marketing of this product. As the acquisition did not meet the accounting definition of a business and this product is still in development with no alternative future use, the amount paid was expensed to research and development in the Condensed Consolidated Statements of Operations.

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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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