Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):


	Goodwill
Balance at December 31, 2020	$	556,211
Goodwill reclassified as Assets held for sale	(68,978)
Cumulative translation adjustment	(348)
Balance at September 30, 2021	$	486,885

For additional information on Goodwill, see Note 5—“Acquisitions.”

Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets.

Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):


	September 30, 2021
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	182,531	$	67,057	$	115,474	10.3
Technology	23,997		22,571		1,426		0.4
Noncompete agreements	19,821		18,844		977		5.2
Patents	10,616		10,237		379		1.5
All other	17,115		5,279		11,836		9.5
Total definite life intangible assets	254,080		123,988		130,092		10.1
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,386		—		2,386		N/A
Total indefinite life intangible assets	81,956		—		81,956		N/A
Total1	$	336,036	$	123,988	$	212,048	10.1

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1Excludes intangibles at cost of $91.6 million, and net carrying amount of $55.6 million thousand classified as Assets held for sale.


	December 31, 2020
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	252,241	$	77,106	$	175,135	10.4
Technology	24,025		20,031		3,994		1.2
Noncompete agreements	30,715		29,596		1,119		5.9
Patents	10,616		10,223		393		1.6
All other	29,566		5,028		24,538		8.3
Total definite life intangible assets	347,163		141,984		205,179		9.9
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,408		—		2,408		N/A
Total indefinite life intangible assets	81,978		—		81,978		N/A
Total	$	429,141	$	141,984	$	287,157	9.9

Intangible amortization expense was $5.0 million and $7.2 million for the three months ended September 30, 2021 and 2020, respectively. Intangible amortization expense was $18.6 million and $21.7 million for the nine months ended September 30, 2021 and 2020, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited condensed consolidated statements of operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for the three and nine months ended September 30, 2021 and 2020.

The estimated future amortization expense of definite life intangible assets as of September 30, 2021 is as follows (in millions):


2021	$	4.9
2022	16.7
2023	14.9
2024	14.4
2025	14.4
2026 and thereafter	64.8
Total	$	130.1