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Goodwill and Other Intangibles | 6 Months Ended
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Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | NOTE H – GOODWILL AND OTHER INTANGIBLES The Company’s finite and indefinite-lived intangible assets consist of the following:
|  | June 30, 2021 |  |  | December 31, 2020 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Finite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | $ | 4,813 |  |  | $ | (4,806 | ) |  | $ | 4,806 |  |  | $ | (4,806 | )
Land use rights |  |  | 1,346 |  |  |  | (442 | ) |  |  | 1,286 |  |  |  | (396 | )
Trademarks |  |  | 1,872 |  |  |  | (1,509 | ) |  |  | 1,756 |  |  |  | (1,474 | )
Technology |  |  | 7,593 |  |  |  | (2,657 | ) |  |  | 7,673 |  |  |  | (2,402 | )
Customer relationships |  |  | 16,399 |  |  |  | (8,954 | ) |  |  | 16,441 |  |  |  | (8,441 | )
|  | $ | 32,023 |  |  | $ | (18,368 | ) |  | $ | 31,962 |  |  | $ | (17,519 | )
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 29,316 |  |  |  |  |  |  | $ | 29,508 |  |  |  |  |
The aggregate amortization expense for other intangibles with finite lives for the three and six-month periods ended June 30, 2021 was $.5 million and $.9 million, respectively. The aggregate amortization expense for other intangibles with finite lives for the three and six-month periods ended June 30, 2020 was $.4 million and $.9 million, respectively. Amortization expense is estimated to be $.8 million for the remainder of 2021, $1.7 million for 2022 and 2023, $1.6 million for 2024 and $1.4 million for 2025. The combined weighted-average remaining amortization period is approximately 12.1 years. The weighted-average remaining amortization period by intangible asset class is as follows: patents, 0 years; land use rights, 55.0 years; trademarks, 6.4 years; technology, 9.6 years; and customer relationships, 9.1 years. The Company’s measurement date for its annual impairment test for goodwill is October 1st of each year. The Company performs its annual impairment test for goodwill utilizing a discounted cash flow methodology, market comparables, and an overall market capitalization reasonableness test in computing fair value by reporting unit. The Company then compares the fair value of the reporting unit to its carrying value to assess if goodwill has been impaired. Based on the assumptions as to growth, discount rates and the weighting used for each respective valuation methodology, results of the valuations could be significantly different. However, the Company believes that the methodologies and weightings used are reasonable and result in appropriate fair values of the reporting units. The Company’s valuation method uses Level 3 inputs under the fair value hierarchy. As of the Company’s most recent annual impairment assessment date, the Asia-Pacific reporting unit’s fair value exceeded carrying value by approximately 15%. Accordingly, the reporting unit is potentially at risk of impairment in the future if there is a continued negative impact on the long-term outlook resulting from the continued effects of the COVID-19 pandemic or other factors such as a postponement of government capital spending. Total goodwill associated with this reporting unit was $7.6 million at June 30, 2021. The Company’s only intangible asset with an indefinite life is goodwill. The changes in the carrying amount of goodwill, by segment, for the six months ended June 30, 2021 are as follows:
|  | USA |  |  | The Americas |  |  | EMEA |  |  | Asia-Pacific |  |  | Total |
Balance at January 1, 2021 |  | $ | 3,078 |  |  | $ | 4,251 |  |  | $ | 14,449 |  |  | $ | 7,730 |  |  | $ | 29,508 |
Currency translation |  |  | 0 |  |  |  | 159 |  |  |  | (227 | ) |  |  | (124 | ) |  |  | (192 | )
Balance at June 30, 2021 |  | $ | 3,078 |  |  | $ | 4,410 |  |  | $ | 14,222 |  |  | $ | 7,606 |  |  | $ | 29,316 |

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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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