XML 73 R15.htm IDEA: XBRL DOCUMENT
v3.20.1

Goodwill and Related Intangible Assets | 3 Months Ended
--- | ---
Mar. 31, 2020
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 three months ended March 31, 2020 are as follows (in thousands):
| Renewable Energy & Conservation |  | Residential Products |  | Industrial and Infrastructure Products |  | Total
Balance at December 31, 2019 | $ | 77,602 |  |  | $ | 198,075 |  |  | $ | 54,028 |  |  | $ | 329,705 |
Acquired goodwill | 52,659 |  |  | — |  |  | — |  |  | 52,659 |
Adjustments to prior year acquisitions | 75 |  |  | — |  |  | — |  |  | 75 |
Foreign currency translation | 75 |  |  | — |  |  | (469 | ) |  | (394 | )
Balance at March 31, 2020 | $ | 130,411 |  |  | $ | 198,075 |  |  | $ | 53,559 |  |  | $ | 382,045 |
The Company conducts its annual goodwill impairment test as of October 31 each year. All of the Company’s ten reporting units had fair values exceeding their carrying values as of October 31, 2019. In addition to the annual impairment test, the Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company considered the current and future macroeconomic and market conditions, along with its current market capitalization, projected cash flows and internal and external forecasts, and projections relating to the impact of the COVID-19 pandemic on each of its reporting units. The Company determined that a triggering event has not occurred which would require an interim impairment test to be performed. Acquired Intangible Assets Acquired intangible assets consist of the following (in thousands):
| March 31, 2020 |  | December 31, 2019 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization |  | Weighted-Average Amortization Period
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | $ | 45,770 |  |  | $ | — |  |  | $ | 45,770 |  |  | $ | — |  |  | Indefinite
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | 8,693 |  |  | 4,239 |  |  | 6,139 |  |  | 4,105 |  |  | 3 to 15 Years
Unpatented technology | 34,289 |  |  | 16,354 |  |  | 29,544 |  |  | 15,807 |  |  | 5 to 20 Years
Customer relationships | 80,777 |  |  | 41,490 |  |  | 71,195 |  |  | 40,294 |  |  | 5 to 17 Years
Non-compete agreements | 1,649 |  |  | 1,567 |  |  | 1,649 |  |  | 1,499 |  |  | 4 to 10 Years
| 125,408 |  |  | 63,650 |  |  | 108,527 |  |  | 61,705 |  |  |
Total acquired intangible assets | $ | 171,178 |  |  | $ | 63,650 |  |  | $ | 154,297 |  |  | $ | 61,705 |  |  |
The following table summarizes the acquired intangible asset amortization expense for the three months ended March 31 (in thousands):
|  | Three Months Ended March 31,
|  | 2020 |  | 2019
Amortization expense |  | $ | 2,078 |  |  | $ | 1,797 |
Amortization expense related to acquired intangible assets for the remainder of fiscal 2020 and the next five years thereafter is estimated as follows (in thousands):
| 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025
Amortization expense | $ | 5,311 |  |  | $ | 6,937 |  |  | $ | 6,459 |  |  | $ | 5,921 |  |  | $ | 5,666 |  |  | $ | 5,566 |

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