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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets [Abstract] |
Intangible Assets | At December 31, 2022 and 2021, 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, 2022 and 2021:
|  |  |  |  | 2022 |  |  | 2021 |
(In thousands except weighted average amortization years) |  | Weighted Average Amortization Years |  |  | Cost |  |  | Accumulated Amortization |  |  | Cost |  |  | Accumulated Amortization |
Technological know-how |  |  | 14.4 |  |  | $ | 12,005 |  |  | $ | (3,383 | ) |  | $ | 8,870 |  |  | $ | (2,314 | )
Customer relationships |  |  | 19.0 |  |  |  | 9,697 |  |  |  | (2,691 | ) |  |  | 7,084 |  |  |  | (2,269 | )
Patents, trademarks, non-compete agreements, and other |  |  | 15.6 |  |  |  | 11,596 |  |  |  | (8,624 | ) |  |  | 11,606 |  |  |  | (8,002 | )
Total finite-lived intangibles |  |  | 16.2 |  |  | $ | 33,298 |  |  | $ | (14,698 | ) |  | $ | 27,560 |  |  | $ | (12,585 | )
Changes in Goodwill by Business Segment | The changes in goodwill for the years ended December 31, 2022 and 2021, by reportable business segment, were as follows:
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Consolidated |
Balance as of December 31, 2020 |  | $ | 112,370 |  |  | $ | 305,263 |  |  | $ | 5,657 |  |  | $ | 423,290 |
Currency translation impact |  |  | (17,298 | ) |  |  | 6,001 |  |  |  | (603 | ) |  |  | (11,900 | )
Goodwill related to divestitures(1) |  |  | (812 | ) |  |  | — |  |  |  | — |  |  |  | (812 | )
Acquisitions(2) |  |  | 9,456 |  |  |  | — |  |  |  | — |  |  |  | 9,456 |
Balance as of December 31, 2021 |  | $ | 103,716 |  |  | $ | 311,264 |  |  | $ | 5,054 |  |  | $ | 420,034 |
Currency translation impact |  |  | (2,796 | ) |  |  | (10,625 | ) |  |  | (338 | ) |  |  | (13,759 | )
Acquisitions(2) |  |  | — |  |  |  | 9,440 |  |  |  | — |  |  |  | 9,440 |
Balance as of December 31, 2022 |  | $ | 100,920 |  |  | $ | 310,079 |  |  | $ | 4,716 |  |  | $ | 415,715 |
| (1) | In the fourth quarter of 2019, the Company met all of the assets held for sale criteria related to the divestitures of its inks product line and fragrances product line (excluding its essential oils product line). Goodwill was allocated to those disposal groups and was determined to be fully impaired based on the estimated fair value of each of the disposal groups. In 2021, the fair value of the fragrances product line (excluding its essential oils product line) disposal group increased, which increased the value of goodwill allocated to the disposal group by $0.8 million. See Note 14, Divestitures, for additional information.
| (2) | In 2021, the Company acquired Flavor Solutions, Inc. In 2022, the Company acquired Endemix. See Note 2, Acquisitions, for additional information.

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