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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets During the three months ended March 31, 2019, in an effort to better align the Company's machining competencies and resources, the Company began reporting its machined products operations within the Specialty Products reportable segment. These operations were previously reported in the Company's Aerospace reportable segment. As a result of the reporting structure change, the Company's previous Aerospace reporting unit was split into two new reporting units, Machined Products and Aerospace. The Company reallocated the goodwill attributed to the previous Aerospace reporting unit on a relative fair value basis between the Machined Products and the new Aerospace reporting units, resulting in an allocation of goodwill of $12.7 million and $133.7 million, respectively. After the reallocation of goodwill, the Company performed a Step I quantitative assessment for both the Machined Products and the new Aerospace reporting units. As part of this assessment, the Company determined that the fair value of the Aerospace reporting unit exceeded its carrying value by more than 34% and the fair value of the Machined Products reporting unit exceeded its carrying value by more than 13%. Changes in the carrying amount of goodwill for the nine months ended September 30, 2019 are summarized as follows (dollars in thousands):
| Packaging |  | Aerospace |  | Specialty Products |  | Total
Balance, December 31, 2018 | $ | 163,660 |  |  | $ | 146,430 |  |  | $ | 6,560 |  |  | $ | 316,650 |
Goodwill from acquisitions | 18,400 |  |  | — |  |  | — |  |  | 18,400 |
Goodwill reassigned in segment realignment | — |  |  | (12,740 | ) |  | 12,740 |  |  | — |
Foreign currency translation and other | (2,380 | ) |  | — |  |  | — |  |  | (2,380 | )
Balance, September 30, 2019 | $ | 179,680 |  |  | $ | 133,690 |  |  | $ | 19,300 |  |  | $ | 332,670 |
The Company amortizes its other intangible assets over periods ranging from one to 30 years. The gross carrying amounts and accumulated amortization of the Company's other intangibles are summarized below (dollars in thousands):
|  | As of September 30, 2019 |  | As of December 31, 2018
Intangible Category by Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Finite-lived intangible assets: |  |  |  |  |  |  |  |
Customer relationships, 5 – 12 years |  | $ | 80,780 |  |  | $ | (54,490 | ) |  | $ | 73,450 |  |  | $ | (48,410 | )
Customer relationships, 15 – 25 years |  | 132,230 |  |  | (63,970 | ) |  | 132,230 |  |  | (58,790 | )
Total customer relationships |  | 213,010 |  |  | (118,460 | ) |  | 205,680 |  |  | (107,200 | )
Technology and other, 1 – 15 years |  | 57,020 |  |  | (33,700 | ) |  | 57,020 |  |  | (31,600 | )
Technology and other, 17 – 30 years |  | 43,300 |  |  | (37,110 | ) |  | 43,300 |  |  | (35,600 | )
Total technology and other |  | 100,320 |  |  | (70,810 | ) |  | 100,320 |  |  | (67,200 | )
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |
Trademark/Trade names |  | 47,320 |  |  | — |  |  | 42,930 |  |  | — |
Total other intangible assets |  | $ | 360,650 |  |  | $ | (189,270 | ) |  | $ | 348,930 |  |  | $ | (174,400 | )
Amortization expense related to intangible assets as included in the accompanying consolidated statement of income is summarized as follows (dollars in thousands):
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Technology and other, included in cost of sales |  | $ | 1,200 |  |  | $ | 1,230 |  |  | $ | 3,610 |  |  | $ | 3,680 |
Customer relationships, included in selling, general and administrative expenses |  | 3,750 |  |  | 3,630 |  |  | 11,310 |  |  | 10,920 |
Total amortization expense |  | $ | 4,950 |  |  | $ | 4,860 |  |  | $ | 14,920 |  |  | $ | 14,600 |

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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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