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Note 8 - Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
| 8. | Goodwill and Intangible Assets
For purposes of performing our goodwill impairment analysis, we have identified our reporting units as North America, Latin America, Coatings, EMEA and APAC. We have the option of first analyzing qualitative factors to determine whether it is more likely than not that the fair value of any reporting unit is less than its carrying amount. However, we may elect to perform a quantitative goodwill impairment test in lieu of the qualitative test. Based on our analysis, we determined that there was no goodwill impairment as of December 31, 2020 and 2019. The changes in the carrying amount of Goodwill are as follows:
|  |  |  |  |  | Accumulated |  |  |  |  |
|  |  |  |  |  | Impairment |  |  |  |  |
|  | Goodwill |  |  | Losses |  |  | Total |
Balance as of December 31, 2018 |  | $ | 221.7 |  |  | $ | (39.0 | ) |  | $ | 182.7 |
Additions |  |  | 15.6 |  |  |  | — |  |  |  | 15.6 |
Foreign currency fluctuations |  |  | (2.2 | ) |  |  | (1.0 | ) |  |  | (3.2 | )
Balance as of December 31, 2019 |  | $ | 235.1 |  |  | $ | (40.0 | ) |  | $ | 195.1 |
Additions |  |  | — |  |  |  | — |  |  |  | — |
Foreign currency fluctuations |  |  | 14.4 |  |  |  | (1.7 | ) |  |  | 12.7 |
Balance as of December 31, 2020 |  | $ | 249.5 |  |  | $ | (41.7 | ) |  | $ | 207.8 |
The balances of acquired Intangible Assets, excluding Goodwill, are as follows:
|  | Customer |  |  | Trade |  |  |  |  |  |  |  |  |
|  | Lists |  |  | Names |  |  | Technology |  |  | Total |
Balance as of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Original cost |  | $ | 166.2 |  |  | $ | 34.4 |  |  | $ | 17.9 |  |  | $ | 218.5 |
Accumulated amortization |  |  | (70.3 | ) |  |  | (12.3 | ) |  |  | (9.7 | ) |  |  | (92.3 | )
Carrying amount |  | $ | 95.9 |  |  | $ | 22.1 |  |  | $ | 8.2 |  |  | $ | 126.2 |
Weighted-average original life (in years) |  |  | 15 |  |  |  | 11 |  |  |  | 11 |  |  |  |  |
Balance as of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Original cost |  | $ | 154.1 |  |  | $ | 31.8 |  |  | $ | 17.1 |  |  | $ | 203.0 |
Accumulated amortization |  |  | (49.8 | ) |  |  | (8.2 | ) |  |  | (7.3 | ) |  |  | (65.3 | )
Carrying amount |  | $ | 104.3 |  |  | $ | 23.6 |  |  | $ | 9.8 |  |  | $ | 137.7 |
Weighted-average original life (in years) |  |  | 15 |  |  |  | 11 |  |  |  | 11 |  |  |  |  |
Amortization expense on Intangible Assets was $20.8 million, $22.2 million and $22.1 million for the years ended December 31, 2020, 2019 and 2018, respectively. Estimated aggregate amortization expense based on the current carrying amount of amortizable Intangible Assets for each of the five succeeding years is as follows:
2021 |  | $ | 20.5 |
2022 |  |  | 18.3 |
2023 |  |  | 16.6 |
2024 |  |  | 14.9 |
2025 |  |  | 13.5 |
Thereafter |  |  | 42.4 |
Total |  | $ | 126.2 |

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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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