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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The Company assesses goodwill and other intangible assets for impairment on an annual basis as of October 1, and more frequently if there are changes in the business climate or as a result of a triggering event taking place. The Company considered the current and potential future market and economic impacts that may result from the COVID-19 pandemic, including its impact on the Company's reporting units, and also assessed the change in its market capitalization during the first and second quarter of 2020. Based on this review, and after consideration of the historical excess in fair value over carrying value within the Company's reporting units, the Company determined that there was not a triggering event which would require an interim impairment test to be performed. In the first quarter of 2020, the Company began reporting its machined products operations within the Aerospace segment. These operations were previously reported in the Company's Specialty Products segment. As a result of the reporting structure change, goodwill of approximately $12.7 million was reassigned from the Specialty Products segment to the Aerospace segment. Changes in the carrying amount of goodwill for the six months ended June 30, 2020 are summarized as follows (dollars in thousands):
| Packaging |  | Aerospace |  | Specialty Products |  | Total
Balance, December 31, 2019 | $ | 181,650 |  |  | $ | 133,690 |  |  | $ | 19,300 |  |  | $ | 334,640 |
Goodwill from acquisitions | — |  |  | 43,260 |  |  | — |  |  | 43,260 |
Goodwill reassigned in segment realignment | — |  |  | 12,740 |  |  | (12,740 | ) |  | — |
Foreign currency translation and other | (1,580 | ) |  | — |  |  | — |  |  | (1,580 | )
Balance, June 30, 2020 | $ | 180,070 |  |  | $ | 189,690 |  |  | $ | 6,560 |  |  | $ | 376,320 |
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 June 30, 2020 |  | As of December 31, 2019
Intangible Category by Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Finite-lived intangible assets: |  |  |  |  |  |  |  |
Customer relationships, 5 – 12 years |  | $ | 100,160 |  |  | $ | (54,200 | ) |  | $ | 73,860 |  |  | $ | (49,910 | )
Customer relationships, 15 – 25 years |  | 122,280 |  |  | (59,230 | ) |  | 122,280 |  |  | (56,010 | )
Total customer relationships |  | 222,440 |  |  | (113,430 | ) |  | 196,140 |  |  | (105,920 | )
Technology and other, 1 – 15 years |  | 54,100 |  |  | (31,240 | ) |  | 52,430 |  |  | (29,790 | )
Technology and other, 17 – 30 years |  | 43,300 |  |  | (38,620 | ) |  | 43,300 |  |  | (37,620 | )
Total technology and other |  | 97,400 |  |  | (69,860 | ) |  | 95,730 |  |  | (67,410 | )
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |
Trademark/Trade names |  | 51,620 |  |  | — |  |  | 42,850 |  |  | — |
Total other intangible assets |  | $ | 371,460 |  |  | $ | (183,290 | ) |  | $ | 334,720 |  |  | $ | (173,330 | )
Amortization expense related to intangible assets as included in the accompanying consolidated statement of operations is summarized as follows (dollars in thousands):
|  | Three months ended June 30, |  | Six months ended June 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Technology and other, included in cost of sales |  | $ | 1,260 |  |  | $ | 1,200 |  |  | $ | 2,470 |  |  | $ | 2,400 |
Customer relationships, included in selling, general and administrative expenses |  | 4,040 |  |  | 3,550 |  |  | 7,680 |  |  | 6,980 |
Total amortization expense |  | $ | 5,300 |  |  | $ | 4,750 |  |  | $ | 10,150 |  |  | $ | 9,380 |

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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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