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Goodwill and Related Intangible Assets | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Related Intangible Assets | GOODWILL AND RELATED INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the years ended December 31 were as follows (in thousands):
| Renewable Energy & Conservation |  | Residential Products |  | Industrial and Infrastructure Products |  | Total
Balance at December 31, 2017 | $ | 68,719 |  |  | $ | 198,075 |  |  | $ | 54,280 |  |  | $ | 321,074 |
Acquired goodwill | 3,051 |  |  | — |  |  | — |  |  | 3,051 |
Adjustments to prior year acquisitions | — |  |  | — |  |  | (38 | ) |  | (38 | )
Foreign currency translation | 57 |  |  | — |  |  | (473 | ) |  | (416 | )
Balance at December 31, 2018 | $ | 71,827 |  |  | $ | 198,075 |  |  | $ | 53,769 |  |  | $ | 323,671 |
Acquired goodwill | 5,857 |  |  | — |  |  | — |  |  | 5,857 |
Adjustments to prior year acquisitions | (172 | ) |  | — |  |  | — |  |  | (172 | )
Foreign currency translation | 90 |  |  | — |  |  | 259 |  |  | 349 |
Balance at December 31, 2019 | $ | 77,602 |  |  | $ | 198,075 |  |  | $ | 54,028 |  |  | $ | 329,705 |
Goodwill is recognized net of accumulated impairment losses of $235.4 million as of December 31, 2019 and 2018, respectively. No goodwill impairment charges were recognized by the Company during 2019 or 2018. Annual Impairment Testing The Company performed its annual goodwill impairment test as of October 31, 2019, 2018, and 2017. During the October 31, 2019 impairment test, the Company conducted a quantitative analysis for all ten of the Company’s reporting units. The quantitative impairment test consists of comparing the fair value of a reporting unit with its carrying value including goodwill. The fair value of each reporting unit evaluated under the quantitative test was determined using two valuation techniques: an income approach and a market approach. Each valuation approach relies on significant assumptions including a weighted average cost of capital ("WACC") based upon the capital structure of market participants in the Company’s peer groups, projected revenue growth, forecasted cash flows, and earnings multiples based on the market value of the Company and market participants within its peer groups. As a result of our annual testing for 2019 and 2018, none of the reporting units with goodwill as of our testing date had carrying values in excess of their fair values. Interim Impairment Testing The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis as of October 31 and at interim dates when indicators of impairment are present. In 2019, 2018 and 2017, no indicators of impairment were identified as of interim dates; therefore, no interim tests were performed. Acquired Intangible Assets Acquired intangible assets consist of the following (in thousands):
| December 31, 2019 |  | December 31, 2018 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization |  | Estimated Useful Life
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | $ | 45,770 |  |  | $ | — |  |  | $ | 43,870 |  |  | $ | — |  |  | Indefinite
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | 6,139 |  |  | 4,105 |  |  | 6,094 |  |  | 3,518 |  |  | 3 to 15 Years
Unpatented technology | 29,544 |  |  | 15,807 |  |  | 28,644 |  |  | 13,881 |  |  | 5 to 20 Years
Customer relationships | 71,195 |  |  | 40,294 |  |  | 70,419 |  |  | 35,678 |  |  | 5 to 17 Years
Non-compete agreements | 1,649 |  |  | 1,499 |  |  | 1,649 |  |  | 1,224 |  |  | 4 to 10 Years
| 108,527 |  |  | 61,705 |  |  | 106,806 |  |  | 54,301 |  |  |
Total acquired intangible assets | $ | 154,297 |  |  | $ | 61,705 |  |  | $ | 150,676 |  |  | $ | 54,301 |  |  |
The Company did not recognize impairment charges related to indefinite-lived trademark intangible assets for the year ended December 31, 2019. During the years ended December 31, 2018 and 2017, the Company recognized impairment charges related to indefinite-lived trademark intangible assets. The Company also recognized impairment charges related to finite-lived intangible assets for the year ended December 31, 2018. The following table summarizes the impairment charges for the years ended December 31 (in thousands):
| 2019 |  | 2018 |  | 2017
| Indefinite-lived intangibles |  | Definite-lived intangibles |  | Indefinite-lived intangibles (1) |  | Definite-lived intangibles (2) |  | Indefinite-lived intangibles (3) |  | Definite-lived intangibles
Renewable Energy and Conservation | $ | — |  |  | $ | — |  |  | $ | 1,037 |  |  | $ | 315 |  |  | $ | 247 |  |  | $ | — |
Residential Products | — |  |  | — |  |  | 200 |  |  | — |  |  | — |  |  | — |
Industrial and Infrastructure Products | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Impairment charges | $ | — |  |  | $ | — |  |  | $ | 1,237 |  |  | $ | 315 |  |  | $ | 247 |  |  | $ | — |
(1) Residential Products impairment charges due to annual testing. Renewable Energy and Conservation impairment charges due to the annual testing in its international solar racking business and restructuring in its domestic greenhouse business. (2) Renewable Energy and Conservation impairment charges due to the restructuring in its domestic greenhouse business. (3) Renewable Energy and Conservation impairment charges due to the discontinuation of its domestic greenhouse business in China. The Company recognized amortization expense related to the definite-lived intangible assets. The following table summarizes amortization expense for the years ended December 31 (in thousands):
| 2019 |  | 2018 |  | 2017
Amortization expense | $ | 7,271 |  |  | $ | 8,222 |  |  | $ | 8,761 |
Amortization expense related to acquired intangible assets for the next five years ended December 31 is estimated as follows (in thousands):
| 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
Amortization expense | $ | 7,133 |  |  | $ | 6,938 |  |  | $ | 6,460 |  |  | $ | 5,922 |  |  | $ | 5,666 |

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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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