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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Other Intangible Assets [Abstract] |
Goodwill and Other Intangible Assets | Note 12. Goodwill and Other Intangible Assets Goodwill and other intangible assets with indefinite lives are not amortized, but instead are assessed for impairment, at least annually. The carrying amount of goodwill was $808.5 million and $807.4 million as of December 31, 2020 and December 31, 2019, respectively. The net change in goodwill since December 31, 2020 was primarily attributable to the effects of foreign exchange. The balance of goodwill by segment and the activity occurring in the past two fiscal years is as follows:
(millions of dollars) |  | Performance Materials |  |  | Specialty Minerals |  |  | Refractories |  |  | Consolidated |
Balance at December 31, 2018 |  | $ | 755.9 |  |  | $ | 12.3 |  |  | $ | 44.2 |  |  | $ | 812.4 |
Change in goodwill relating to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange translation |  |  | (4.7 | ) |  |  | 0.2 |  |  |  | (0.5 | ) |  |  | (5.0 | )
Total Changes |  | $ | (4.7 | ) |  | $ | 0.2 |  |  | $ | (0.5 | ) |  | $ | (5.0 | )
Balance at December 31, 2019 |  | $ | 751.2 |  |  | $ | 12.5 |  |  | $ | 43.7 |  |  | $ | 807.4 |
Change in goodwill relating to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange translation |  |  | 1.2 |  |  |  | 0.2 |  |  |  | (0.3 | ) |  |  | 1.1 |
Total Changes |  | $ | 1.2 |  |  | $ | 0.2 |  |  | $ | (0.3 | ) |  | $ | 1.1 |
Balance at December 31, 2020 |  | $ | 752.4 |  |  | $ | 12.7 |  |  | $ | 43.4 |  |  | $ | 808.5 |
Acquired intangible assets subject to amortization as of December 31, 2020 and December 31, 2019 were as follows:
|  |  |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | Weighted Average Useful Life (Years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Tradenames |  |  | 35 |  |  | $ | 203.9 |  |  | $ | 38.6 |  |  | $ | 203.9 |  |  | $ | 32.5 |
Technology |  |  | 13 |  |  |  | 18.8 |  |  |  | 9.6 |  |  |  | 18.8 |  |  |  | 8.0 |
Patents and trademarks |  |  | 19 |  |  |  | 6.4 |  |  |  | 6.1 |  |  |  | 6.4 |  |  |  | 5.9 |
Customer relationships |  |  | 22 |  |  |  | 26.9 |  |  |  | 5.9 |  |  |  | 24.7 |  |  |  | 4.4 |
|  |  | 32 |  |  | $ | 256.0 |  |  | $ | 60.2 |  |  | $ | 253.8 |  |  | $ | 50.8 |
The weighted average amortization period of the acquired intangible assets subject to amortization is approximately 32 years. Amortization expense was approximately $9.3 million, $9.1 million and $8.8 million for the years ended December 31, 2020, 2019 and 2018, respectively and is recorded within the Marketing and administrative expenses line within the Consolidated Statements of Income. The estimated amortization expense is as follows: 2021 - $9.3 million; 2022 -$9.1; 2023 - $9.0; 2024 -$9.0 million; 2025 - $9.0 million and $150.4 million thereafter.

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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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