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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Estimated Useful Lives of Property and Equipment Depreciation is computed using the straight-line method. The estimated useful lives of the Company’s property and equipment are as follows:

 

Asset Category

  

Useful Life

Buildings and improvements

  

2 to 50 years

Plant and equipment

  

1 to 20 years

Production tooling

  

2 to 10 years

Leasehold improvements

  

Term of lease

Information technology

  

1 to 10 years

 

  

 

Fair Value and Corresponding Useful Lives for Acquired Intangibles Assets

Amortization is computed using the straight-line method. The fair value and corresponding useful lives for acquired intangible assets are listed below as follows:

 

Asset Category

  

Useful Life

Customer relationships

  

6-15 years

Technology

  

4-8 years

Product development costs

  

1-15 years

Tradenames

 

Indefinite