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Note 7 - Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
7. | Goodwill and Intangible Assets
The changes in the carrying value of goodwill for the six months ended June 30, 2021 were as follows:
|  |  |  |  |  | Accumulated |  |  |  |  |
|  |  |  |  |  | Impairment |  |  |  |  |
|  | Goodwill |  |  | Losses |  |  | Total |
Balance as of December 31, 2020 |  | $ | 249.5 |  |  | $ | (41.7 | ) |  | $ | 207.8 |
Divestiture |  |  | (1.7 | ) |  |  | — |  |  |  | (1.7 | )
Foreign currency fluctuations |  |  | (3.9 | ) |  |  | (0.2 | ) |  |  | (4.1 | )
Balance as of June 30, 2021 |  | $ | 243.9 |  |  | $ | (41.9 | ) |  | $ | 202.0 |
The divestiture of goodwill during the first quarter of 2021 was the result of the sale of the Coatings business discussed in Note 5. The balances of acquired intangible assets, excluding goodwill, were as follows:
|  | Customer Lists |  |  | Trade Names |  |  | Technology |  |  | Total |
Balance as of June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Original cost |  | $ | 161.1 |  |  | $ | 31.6 |  |  | $ | 17.6 |  |  | $ | 210.3 |
Accumulated amortization |  |  | (75.9 | ) |  |  | (13.0 | ) |  |  | (10.3 | ) |  |  | (99.2 | )
Carrying value |  | $ | 85.2 |  |  | $ | 18.6 |  |  | $ | 7.3 |  |  | $ | 111.1 |
Weighted average original life (in years) |  |  | 15 |  |  |  | 10 |  |  |  | 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 |  |  |  |  |
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 discussed in Note 5. Amortization expense on intangible assets for the three and six months ended June 30, 2021 was $5.0 million and $10.3 million, respectively. Amortization expense on intangible assets for the three and six months ended June 30, 2020 was $5.0 million and $10.0 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 |  | $ | 9.7 |
2022 |  | 17.6 |
2023 |  |  | 16.0 |
2024 |  |  | 14.4 |
2025 |  |  | 12.9 |
Thereafter |  |  | 40.5 |
Total |  | $ | 111.1 |

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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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