XML 75 R16.htm IDEA: XBRL DOCUMENT
v3.20.4

Goodwill and Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 are presented in the table below:
(in Millions) |  |  |  |  | Total
Balance, December 31, 2018 |  |  |  |  | $ | 1,468.1 |
Foreign currency and other adjustments |  |  |  |  | (0.6) |
Balance, December 31, 2019 |  |  |  |  | $ | 1,467.5 |
Foreign currency and other adjustments |  |  |  |  | 1.4 |
Balance, December 31, 2020 |  |  |  |  | $ | 1,468.9 |
Our fiscal year 2020 annual goodwill and indefinite life impairment test was performed during the third quarter ended September 30, 2020. We determined no goodwill impairment existed and that the fair value was substantially in excess of the carrying value. There were no events or circumstances indicating that goodwill might be impaired as of December 31, 2020. Additionally, the estimated fair values also substantially exceeded the carrying value for each of our indefinite-lived intangible assets. Our intangible assets, other than goodwill, consist of the following:
|  | December 31, 2020 |  | December 31, 2019
(in Millions) | Weighted avg. useful life remaining at December 31, 2020 | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Intangible assets subject to amortization (finite life) |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 16 years | $ | 1,169.4 |  |  | $ | (249.7) |  |  | $ | 919.7 |  |  | $ | 1,139.7 |  |  | $ | (184.7) |  |  | $ | 955.0 |
Patents | 5 years | 1.9 |  |  | (1.2) |  |  | 0.7 |  |  | 1.7 |  |  | (0.9) |  |  | 0.8 |
Brands (1) | 8 years | 18.3 |  |  | (8.9) |  |  | 9.4 |  |  | 16.7 |  |  | (6.7) |  |  | 10.0 |
Purchased and licensed technologies | 9 years | 61.1 |  |  | (38.1) |  |  | 23.0 |  |  | 60.2 |  |  | (35.2) |  |  | 25.0 |
Other intangibles | < 1 year | 3.4 |  |  | (2.6) |  |  | 0.8 |  |  | 1.9 |  |  | (1.8) |  |  | 0.1 |
|  | $ | 1,254.1 |  |  | $ | (300.5) |  |  | $ | 953.6 |  |  | $ | 1,220.2 |  |  | $ | (229.3) |  |  | $ | 990.9 |
Intangible assets not subject to amortization (indefinite life) |  |  |  |  |  |  |  |  |  |  |  |
Crop Protection Brands (2) |  | $ | 1,259.1 |  |  |  |  | $ | 1,259.1 |  |  | $ | 1,259.1 |  |  |  |  | $ | 1,259.1 |
Brands (1) |  | 412.5 |  |  |  |  | 412.5 |  |  | 379.0 |  |  |  |  | 379.0 |
|  | $ | 1,671.6 |  |  |  |  | $ | 1,671.6 |  |  | $ | 1,638.1 |  |  |  |  | $ | 1,638.1 |
Total intangible assets | $ | 2,925.7 |  |  | $ | (300.5) |  |  | $ | 2,625.2 |  |  | $ | 2,858.3 |  |  | $ | (229.3) |  |  | $ | 2,629.0 |
____________________ (1) Represents trademarks, trade names and know-how. (2) Represents proprietary brand portfolios, consisting of trademarks, trade names and know-how, of our crop protection brands.
| Year Ended December 31,
(in Millions) | 2020 |  | 2019 |  | 2018
Amortization expense | $ | 61.9 |  |  | $ | 62.6 |  |  | $ | 62.2 |
The estimated pre-tax amortization expense for each of the five years ending December 31, 2021 to 2025 is $64.1 million, $64.1 million, $63.7 million, $62.2 million, and $61.7 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration