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Note 7 - Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

7.	Goodwill and Intangible Assets

The changes in the carrying value of Goodwill for the three months ended March 31, 2021 were as follows:

				*Accumulated*
				*Impairment*
	*Goodwill*			*Losses*			*Total*
Balance as of December 31, 2020	$	249.5		$	(41.7	)	$	207.8
Divestitures		(1.7	)		—			(1.7	)
Foreign currency fluctuations		(6.9	)		—			(6.9	)
Balance as of March 31, 2021	$	240.9		$	(41.7	)	$	199.2

The balances of acquired Intangible Assets, excluding Goodwill, were as follows:

	*Customer Lists*			*Trade Names*			*Technology*			*Total*
Balance as of March 31, 2021
Original cost	$	159.1		$	31.2		$	17.5		$	207.8
Accumulated amortization		(71.3	)		(12.0	)		(9.9	)		(93.2	)
Carrying value	$	87.8		$	19.2		$	7.6		$	114.6
Weighted average original life (in years)		15			11			11

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 value	$	95.9		$	22.1		$	8.2		$	126.2
Weighted average original life (in years)		15			11			11

The divestiture of Goodwill during the first quarter of 2021 was the result of the sale of the coatings business disclosed in Note 5.

During the first quarter of 2021, we divested Identified Intangible Assets, excluding Goodwill, with a carrying value of $0.9 million and $1.4 million in the categories of Customer Lists and Trade Names, respectively, as a result of the sale of the coatings business disclosed in Note 5.

Amortization expense on Intangible Assets for the three months ended March 31, 2021 and March 31, 2020 was $5.3 million and $5.0 million, respectively.

Estimated aggregate amortization expense based on the current carrying value of amortizable Intangible Assets for each of the five succeeding years and thereafter is as follows:

Remaining 2021	$	14.4
2022	17.4
2023		15.8
2024		14.2
2025		12.8
Thereafter		40.0
Total	$	114.6