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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 9. Goodwill and Other Intangible Assets The changes in carrying amount of goodwill for the years ended December 31, 2018 and 2017 are as follows:
|  | Cranes |  |  | Americas |  |  | Europe and Africa ("EURAF") |  |  | Middle East and Asia Pacific ("MEAP") |
Net balance as of January 1, 2017 |  | $ | 299.6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign currency impact |  |  | 16.5 |  |  |  | — |  |  |  | — |  |  |  | — |
Reallocation of goodwill at October 31, 2017 |  |  | (316.1 | ) |  |  | 166.5 |  |  |  | 81.5 |  |  |  | 68.1 |
Foreign currency impact |  |  | — |  |  |  | — |  |  |  | 4.4 |  |  |  | 0.8 |
Net balance as of December 31, 2017 |  |  | — |  |  |  | 166.5 |  |  |  | 85.9 |  |  |  | 68.9 |
Foreign currency impact |  |  | — |  |  |  | — |  |  |  | (3.7 | ) |  |  | (2.6 | )
Goodwill impairment - October 31, 2018 |  |  | — |  |  |  | — |  |  |  | (82.2 | ) |  |  | — |
Net balance as of December 31, 2018 |  | $ | — |  |  | $ | 166.5 |  |  | $ | — |  |  | $ | 66.3 |
The Company accounts for goodwill and other intangible assets under the guidance of ASC Topic 350, “Intangibles — Goodwill and Other.” The Company performs impairment reviews for goodwill and indefinite-lived intangible assets using a fair-value method based on the present value of future cash flows, which involves management’s judgments and assumptions about the amounts of those cash flows and the discount rates used. The estimated fair value is then compared with the carrying amount of the reporting unit, including recorded goodwill, or indefinite-lived intangible asset. The intangible asset is then subject to risk of write-down to the extent that the carrying amount exceeds the estimated fair value. The annual goodwill and indefinite-lived assets impairment testing was performed during the fourth quarter. Based on the results of that test, the EURAF reporting unit recorded a non-cash goodwill impairment charge of $82.2 million. The goodwill impairment charge resulted from a reduction in the estimated fair value of the reporting unit based on the continued decline in the Company’s equity market capitalization and lower forecasted results in the region. The Company will continue to monitor changes in circumstances and test more frequently if those changes indicate that assets might be impaired. A considerable amount of management judgment and assumptions are required in performing the impairment tests as it relates to revenue growth rates, projected operating income, discount rates and royalty rates. While the Company believes the judgments and assumptions are reasonable, different assumptions could change the estimated fair value and, therefore, additional impairment charges could be required. Weakening industry or economic trends, disruptions to our business, unexpected significant changes or planned changes in the use of the assets or in entity structure may adversely impact the assumptions used in the valuations. The Company continually monitors market conditions and determines if any additional interim reviews of goodwill, other intangibles or long-lived assets are warranted. In the event the Company determines that assets are impaired in the future, the Company would recognize a non-cash impairment charge, which could have a material adverse effect on the Company’s Consolidated Balance Sheets and Results of Operations. The gross carrying amount and accumulated amortization of the Company’s intangible assets other than goodwill are as follows as of December 31, 2018 and 2017.
|  | December 31, 2018 |  |  | December 31, 2017 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |
Trademarks and tradenames |  | $ | 96.7 |  |  | $ | — |  |  | $ | 96.7 |  |  | $ | 99.7 |  |  | $ | — |  |  | $ | 99.7 |
Customer relationships |  |  | 10.1 |  |  |  | (8.4 | ) |  |  | 1.7 |  |  |  | 10.7 |  |  |  | (8.7 | ) |  |  | 2.0 |
Patents |  |  | 29.8 |  |  |  | (29.0 | ) |  |  | 0.8 |  |  |  | 30.6 |  |  |  | (29.7 | ) |  |  | 0.9 |
Engineering drawings |  |  | 10.5 |  |  |  | (10.5 | ) |  |  | — |  |  |  | 10.8 |  |  |  | (10.7 | ) |  |  | 0.1 |
Distribution network |  |  | 19.0 |  |  |  | (0.1 | ) |  |  | 18.9 |  |  |  | 19.5 |  |  |  | (0.1 | ) |  |  | 19.4 |
Net balance |  | $ | 166.1 |  |  | $ | (48.0 | ) |  | $ | 118.1 |  |  | $ | 171.3 |  |  | $ | (49.2 | ) |  | $ | 122.1 |
Amortization of intangible assets for the years ended December 31, 2018, 2017 and 2016 was $0.3 million, $0.8 million and $3.0 million, respectively. Excluding the impact of any future acquisitions, divestitures or impairments, the Company anticipates amortization will be approximately $0.3 million per year through 2022.

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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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