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Goodwill and Other Intangible Assets (Notes)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

Changes in the carrying amount of goodwill for the nine months ended September 30, 2024 are summarized as follows (dollars in thousands):

			Packaging						Aerospace						Specialty Products						Total
Balance, December 31, 2023			$	287,350					$	69,860					$	6,560					$	363,770
Foreign currency translation and other			1,480						(150)						—						1,330
Balance, September 30, 2024			$	288,830					$	69,710					$	6,560					$	365,100

Other Intangible Assets

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, 2024												As of December 31, 2023
Intangible Category by Useful Life						Gross Carrying Amount						Accumulated Amortization						Gross Carrying Amount						Accumulated Amortization
Finite-lived intangible assets:
Customer relationships, 5 – 12 years						$	141,540					$	(94,670)					$	141,260					$	(89,020)
Customer relationships, 15 – 25 years						129,670						(85,230)						129,830						(80,600)
Total customer relationships						271,210						(179,900)						271,090						(169,620)
Technology and other, 1 – 15 years						57,010						(43,990)						56,970						(41,850)
Technology and other, 17 – 30 years						43,300						(40,990)						43,300						(40,730)
Total technology and other						100,310						(84,980)						100,270						(82,580)
Indefinite-lived intangible assets:
Trademark/Trade names						62,010						—						61,860						—
Total other intangible assets						$	433,530					$	(264,880)					$	433,220					$	(252,200)

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,
						2024						2023						2024						2023
Technology and other, included in cost of sales						$	810					$	800					$	2,470					$	2,410
Customer relationships, included in selling, general and administrative expenses						3,400						3,810						10,170						11,400
Total amortization expense						$	4,210					$	4,610					$	12,640					$	13,810

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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