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Acquisitions, Goodwill And Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Acquisitions, Goodwill And Other Intangible Assets [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The acquisition of this business was preliminarily recorded as of the acquisition date as follows (in thousands):

Cash consideration, net of cash acquired			$	50,534
Effective settlement of receivable			34,956
Discounted value of fixed deferred consideration			61,191
Total fair value of consideration given			$	146,681
Identifiable intangible assets			$	95,000
Other assets acquired and liabilities assumed, net			5,811
Tax liabilities			(28,704)
Total fair value of net assets acquired			$	72,107
Goodwill (not tax deductible)			$	74,574

The acquisition of this business was preliminarily recorded as of the acquisition date as follows (in thousands):

Cash consideration, net of cash acquired			$	29,383
Customer relationships			$	10,000
Other identifiable intangible assets			2,500
Net tangible assets			564
Total fair value of net assets acquired			$	13,064
Goodwill (not tax deductible)			$	16,319

The acquisition of this business was preliminarily recorded on the acquisition date as follows (in thousands):

Cash consideration, net of cash acquired			$	56,857
Contingent consideration			3,000
Total fair value of consideration given			$	59,857
Customer relationships			$	24,200
Other identifiable intangible assets			9,100
Net tangible assets			16,923
Total fair value of net assets acquired			$	50,223
Goodwill (tax deductible)			$	9,634

Schedule of Goodwill

Goodwill by reportable segment was as follows:

(In thousands)			OEM Segment						Aftermarket Segment						Total
Net balance – December 31, 2020			$	305,953					$	148,775					$	454,728
Acquisitions – 2021			74,059						35,194						109,253
Measurement period adjustments			9,456						(23)						9,433
Foreign currency translation			(4,539)						10						(4,529)
Net balance – September 30, 2021			$	384,929					$	183,956					$	568,885

Schedule of Other Intangible Assets

Other intangible assets consisted of the following at September 30, 2021:

(In thousands)			Gross Cost						Accumulated Amortization						Net Balance						Estimated Useful Life in Years
Customer relationships			$	450,736					$	118,405					$	332,331					6			to			17
Patents			109,195						51,517						57,678						3			to			20
Trade names (finite life)			125,012						16,284						108,728						3			to			20
Trade names (indefinite life)			7,600						—						7,600						Indefinite
Non-compete agreements			12,064						4,890						7,174						3			to			6
Other			309						207						102						2			to			12
Purchased research and development			4,687						—						4,687						Indefinite
Other intangible assets			$	709,603					$	191,303					$	518,300

Other intangible assets consisted of the following at December 31, 2020:

(In thousands)			Gross Cost						Accumulated Amortization						Net Balance						Estimated Useful Life in Years
Customer relationships			$	398,613					$	95,443					$	303,170					6			to			17
Patents			92,128						47,090						45,038						3			to			20
Trade names (finite life)			69,686						11,272						58,414						3			to			20
Trade names (indefinite life)			7,600						—						7,600						Indefinite
Non-compete agreements			6,478						4,617						1,861						3			to			6
Other			309						194						115						2			to			12
Purchased research and development			4,687						—						4,687						Indefinite
Other intangible assets			$	579,501					$	158,616					$	420,885

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- Definition

Acquisitions Goodwill And Other Intangible Assets Abstract

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Schedule of finite and indefinite-lived intangible assets

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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
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-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

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