Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

4. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill for the years ended December 31, 2020 and 2019, were as follows:

(In thousands)		Surfactants Segment							Polymer Segment							Specialty Products Segment						Total
		2020			2019				2020			2019				2020			2019			2020				2019
Balance as of January 1
Goodwill		$	23,664			$	20,521			$	5,406		$	5,417			$	483		$	483		$	29,553			$	26,421
Accumulated impairment loss			(3,467	)			(3,467	)			—			—				—			—			(3,467	)			(3,467	)
Goodwill, net			20,197				17,054				5,406			5,417				483			483			26,086				22,954
Goodwill acquired ⁽¹⁾			4,225				3,497				—			—				—			—			4,225				3,497
Goodwill measurement period adjustment	⁽¹⁾		(336	)			—				—			—				—			—			(336	)			—
Foreign currency translation			(2,016	)			(354	)			13			(11	)			—			—			(2,003	)			(365	)
Balance as of December 31
Goodwill			25,537				23,664				5,419			5,406				483			483			31,439				29,553
Accumulated impairment loss			(3,467	)			(3,467	)			—			—				—			—			(3,467	)			(3,467	)
Goodwill, net		$	22,070			$	20,197			$	5,419		$	5,406			$	483		$	483		$	27,972			$	26,086

(1)	See Note 20 for information regarding the goodwill acquired in a business combination.

The Company tests its goodwill balances for impairment in the second quarter of each calendar year. The 2020 and 2019 tests indicated no impairment.

The following table presents the components of other intangible assets, all of which have finite lives, as of December 31, 2020 and 2019. The year-over-year changes in gross carrying values mainly resulted from acquisitions that took place in 2020 and the effects of foreign currency translation.

(In thousands)	Gross Carrying Value				Accumulated Amortization
	December 31				December 31
	2020		2019		2020		2019
Other Intangible Assets:
Patents ⁽²⁾	$	7,411	$	6,947	$	5,713	$	5,091
Non-compete agreements ⁽²⁾		623		374		270		242
Trademarks ⁽²⁾		4,087		4,087		2,905		2,561
Customer lists/relationships ⁽²⁾		21,424		14,539		6,842		5,983
Supply contract		1,579		2,040		1,579		1,657
Know-how ⁽¹⁾⁽²⁾		14,183		9,543		7,930		6,644
Total	$	49,307	$	37,530	$	25,239	$	22,178

(1)

Know-how includes intellectual property rights covering proprietary information, written formulae, trade secrets or secret processes, inventions and developmental products (whether patentable or not), discoveries, improvements, compositions, manufacturing processes, manuals, specifications and technical data

(2)	The 2020 balances include intangible assets acquired as part of the Company’s Clariant (Mexico) and Logos Technologies acquisitions in 2020. See Note 20 for additional details.

Aggregate amortization expense for the years ended December 31, 2020, 2019 and 2018, was $3,621,000, $3,399,000, and $3,470,000, respectively. Estimated amortization expense for identifiable intangibles assets for each of the five succeeding fiscal years is as follows:

(In thousands)
For year ended 12/31/21	$	2,998
For year ended 12/31/22		2,374
For year ended 12/31/23		2,346
For year ended 12/31/24		2,061
For year ended 12/31/25		1,620