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Goodwill and Identifiable Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Identifiable Intangible Assets, Net | Goodwill and Identifiable Intangible Assets, Net Goodwill allocated to the Company's reportable segments and changes in the carrying amount of goodwill were as follows:
(in thousands) | Titleist Golf Balls |  | Titleist Golf Clubs |  | Titleist Golf Gear |  | FootJoy Golf Wear |  | Other |  | Total
Balances at December 31, 2017 | $ | 119,634 |  |  | $ | 58,101 |  |  | $ | 14,088 |  |  | $ | 2,585 |  |  | $ | 8,995 |  |  | $ | 203,403 |
Acquisitions (Note 21) | 8,492 |  |  | — |  |  | — |  |  | 1,071 |  |  | — |  |  | 9,563 |
Foreign currency translation | (1,931 | ) |  | (949 | ) |  | (222 | ) |  | (43 | ) |  | (150 | ) |  | (3,295 | )
Balances at December 31, 2018 | 126,195 |  |  | 57,152 |  |  | 13,866 |  |  | 3,613 |  |  | 8,845 |  |  | 209,671 |
Acquisitions (Note 21) | — |  |  | — |  |  | — |  |  | — |  |  | 4,749 |  |  | 4,749 |
Foreign currency translation | (214 | ) |  | (104 | ) |  | (25 | ) |  | (5 | ) |  | (16 | ) |  | (364 | )
Balances at December 31, 2019 | $ | 125,981 |  |  | $ | 57,048 |  |  | $ | 13,841 |  |  | $ | 3,608 |  |  | $ | 13,578 |  |  | $ | 214,056 |
The net carrying value by class of identifiable intangible assets was as follows:
|  | December 31, 2019 |  | December 31, 2018
(in thousands) |  | Gross |  | Accumulated Amortization |  | Net Book Value |  | Gross |  | Accumulated Amortization |  | Net Book Value
Indefinite-lived: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  | $ | 429,051 |  |  | $ | — |  |  | $ | 429,051 |  |  | $ | 429,051 |  |  | $ | — |  |  | $ | 429,051 |
Amortizing: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  | 5,503 |  |  | (492 | ) |  | 5,011 |  |  | 1,600 |  |  | (50 | ) |  | 1,550 |
Completed technology |  | 74,715 |  |  | (46,370 | ) |  | 28,345 |  |  | 73,900 |  |  | (41,017 | ) |  | 32,883 |
Customer relationships |  | 27,127 |  |  | (8,923 | ) |  | 18,204 |  |  | 22,023 |  |  | (7,250 | ) |  | 14,773 |
Licensing fees and other |  | 32,666 |  |  | (32,483 | ) |  | 183 |  |  | 32,384 |  |  | (32,384 | ) |  | — |
Total intangible assets |  | $ | 569,062 |  |  | $ | (88,268 | ) |  | $ | 480,794 |  |  | $ | 558,958 |  |  | $ | (80,701 | ) |  | $ | 478,257 |
As a result of an acquisition completed during the year ended December 31, 2019, the Company recorded additions to identifiable intangible assets including amortizing trademarks, completed technology, customer relationships and other intangible assets of $3.9 million, $0.8 million, $5.1 million and $0.2 million, respectively (Note 21). The Company expects to amortize the acquired amortizing trademarks, completed technology, customer relationships and other intangible assets over an eight, six, seven and five year period, respectively. As a result of acquisitions completed during the year ended December 31, 2018, the Company recorded additions to identifiable intangible assets including indefinite-lived trademarks, amortizing trademarks and customer relationships of $1.0 million, $1.6 million and $2.7 million, respectively (Note 21). The Company expects to amortize the acquired amortizing trademarks and customer relationships over an eight year period. During the years ended December 31, 2019, 2018 and 2017, no impairment charges were recorded to goodwill or indefinite-lived intangible assets. Identifiable intangible asset amortization expense was $7.5 million, $8.0 million and $9.3 million for the years ended December 31, 2019, 2018 and 2017, respectively, of which $1.4 million and $2.7 million associated with certain licensing fees was included in cost of goods sold for the years ended December 31, 2018 and 2017, respectively. Identifiable intangible asset amortization expense for each of the next five fiscal years and beyond is expected to be as follows:
(in thousands) |
Year ending December 31, |
2020 | $ | 7,835 |
2021 | 7,835 |
2022 | 7,835 |
2023 | 7,835 |
2024 | 7,815 |
Thereafter | 12,588 |
Total | $ | 51,743 |

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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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