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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2014
GOODWILL AND INTANGIBLE ASSETS [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
2.
GOODWILL AND INTANGIBLE ASSETS

At December 31, 2014 and 2013, goodwill is the only intangible asset that is not subject to amortization.

The following table summarizes intangible assets with determinable useful lives by major category as of December 31, 2014 and 2013:

  
  
2014
  
2013
 
(in thousands except weighted average amortization years)
 
Weighted Average Amortization Years
  
Cost
  
Accumulated Amortization
  
Cost
  
Accumulated Amortization
 
Technological know-how
  
20.0
  
$
6,459
  
$
(4,352
)
 
$
8,606
  
$
(5,328
)
Customer relationships
  
20.0
   
6,938
   
(4,170
)
  
7,944
   
(4,359
)
Patents, trademarks, non-compete agreements and other
  
19.2
   
9,753
   
(5,868
)
  
9,630
   
(5,947
)
Total finite-lived intangibles
  
19.7
  
$
23,150
  
$
(14,390
)
 
$
26,180
  
$
(15,634
)

Amortization of intangible assets was $1.2 million in 2014, $1.3 million in 2013 and $1.4 million in 2012. Estimated amortization expense each year for the five years subsequent to December 31, 2014, is $1.2 million in each year from 2015 through 2019.

The changes in goodwill for the years ended December 31, 2014 and 2013, by reportable business segment, were as follows:

(in thousands)
 
Flavors & Fragrances
  
Color
  
Corporate & Other
  
Consolidated
 
Balance as of December 31, 2012
 
$
135,784
  
$
311,650
  
$
3,884
  
$
451,318
 
Currency translation impact
  
853
   
5,673
   
(575
)
  
5,951
 
Balance as of December 31, 2013
 
$
136,637
  
$
317,323
  
$
3,309
  
$
457,269
 
Currency translation impact
  
(10,614
)
  
(22,050
)
  
(333
)
  
(32,997
)
Impairment
  
—
   
(158
)
  
—
   
(158
)
Balance as of December 31, 2014
 
$
126,023
  
$
295,115
  
$
2,976
  
$
424,114
 

A portion of the Color segment’s goodwill was written down in 2014 related to the discontinued operation.