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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes to The Company's Goodwill | The following is the summary of changes to the Company's Goodwill for the six months ended June 30, 2020:
| Industrial |  |  | Agricultural |  |  |  |  |  | Consolidated |
(in thousands) |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2019 |  | $ | 183,307 |  |  |  | $ | 14,715 |  |  |  |  |  |  | $ | 198,022 |
Translation adjustment |  | (278) |  |  |  | (1,930) |  |  |  |  |  |  | (2,208) |
Goodwill adjustment |  | (357) |  |  |  | — |  |  |  |  |  |  | (357) |
Balance at June 30, 2020 |  | $ | 182,672 |  |  |  | $ | 12,785 |  |  |  |  |  |  | $ | 195,457 |
Schedule of Definite and Indefinite Lived Intangible Assets | The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands) | Estimated Useful Lives | June 30, 2020 |  |  | December 31, 2019 |
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 66,880 |  |  |  | $ | 67,222 |
Customer and dealer relationships | 8-15 years |  | 122,037 |  |  |  | 121,508 |
Patents and drawings | 3-12 years |  | 28,252 |  |  |  | 28,485 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Total at cost |  |  | 221,369 |  |  |  | 221,415 |
Less accumulated amortization |  |  | (27,944) |  |  |  | (20,643) |
Total net |  |  | 193,425 |  |  |  | 200,772 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 198,925 |  |  |  | $ | 206,272 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
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