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INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2017
INTANGIBLE ASSETS [Abstract] |
INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS The Company had goodwill in the amount of $441,259 and $439,811 as of September 30, 2017 and December 31, 2016, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.”
Goodwill at January 1, 2017 |  | $ | 439,811 |
Goodwill as a result of the Acquisitions – see Note 2 |  |  | 1,448 |
Goodwill at September 30, 2017 |  | $ | 441,259 |
There was a $1,405 increase in the carrying amount of goodwill during the three months ended September 30, 2017, as a result of changes to the fair value of assets acquired and liabilities assumed (See Note 2).
|  | September 30, 2017 |  |  | December 31, 2016 |
Human Nutrition & Health |  | $ | 405,232 |  |  | $ | 404,187 |
Animal Nutrition & Health |  |  | 12,137 |  |  |  | 11,734 |
Specialty Products |  |  | 22,662 |  |  |  | 22,662 |
Industrial Products |  |  | 1,228 |  |  |  | 1,228 |
Total |  | $ | 441,259 |  |  | $ | 439,811 |
Identifiable intangible assets with finite lives at September 30, 2017 and December 31, 2016 are summarized as follows:
|  | Amortization Period (in years) |  |  | Gross Carrying Amount at 9/30/17 |  |  | Accumulated Amortization at 9/30/17 |  |  | Gross Carrying Amount at 12/31/16 |  |  | Accumulated Amortization at 12/31/16 |
Customer relationships & lists |  |  | 10 |  |  | $ | 190,044 |  |  | $ | 100,868 |  |  | $ | 185,885 |  |  | $ | 86,338 |
Trademarks & trade names |  |  | 17 |  |  |  | 40,630 |  |  |  | 11,978 |  |  |  | 39,241 |  |  |  | 9,260 |
Developed technology |  |  | 5 |  |  |  | 13,338 |  |  |  | 5,269 |  |  |  | 12,260 |  |  |  | 3,358 |
Other |  |  | 5-17 |  |  |  | 13,278 |  |  |  | 4,664 |  |  |  | 12,713 |  |  |  | 3,659 |
|  |  |  |  |  | $ | 257,290 |  |  | $ | 122,779 |  |  | $ | 250,099 |  |  | $ | 102,615 |
Amortization of identifiable intangible assets was approximately $20,145 for the nine months ended September 30, 2017. Assuming no change in the gross carrying value of identifiable intangible assets, the estimated amortization expense for the remainder of 2017 is $6,910, approximately $24,575 for 2018, $22,460 for 2019, $20,440 for 2020, $17,215 for 2021 and $15,675 for 2022. At September 30, 2017, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the nine months ended September 30, 2017.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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