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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 9. Goodwill and Other Intangible Assets The Company performs an annual impairment review of goodwill and indefinite-lived intangible assets during the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company considered the deterioration in general economic and market conditions due to the COVID-19 pandemic and its impact on each of the Company’s reporting units’ performance. Despite the significant excess fair value identified in the 2019 annual impairment assessment, the Company determined that due to the decline in the Company’s market capitalization as a result of the COVID-19 pandemic, a triggering event was identified during the first quarter of 2020. Therefore, the Company qualitatively assessed whether it was more likely than not that the goodwill and indefinite-lived intangible assets were impaired as of March 31, 2020. Based on the Company’s review of its previous forecast and assumptions of its long-term revenue growth and operating income projections, including the duration and extent of the COVID-19 impact to the business, current discount rates, volatility in the Company’s market capitalization and macro-economic conditions, as well as the amount of excess of fair value over the carrying value of the reporting units in the 2019 annual impairment assessment, the Company concluded that the fair value of each reporting unit was in excess of its carrying amount as of March 31, 2020. However, the Company is unable to predict future changes in such circumstances, including a more prolonged and/or severe COVID-19 pandemic than anticipated, or future changes in the variables associated with management’s judgements and assumptions used to assess the fair value of the reporting units, which could require the Company to record a non-cash impairment charge in the future. The changes in the carrying amount of goodwill for the year ended December 31, 2019 and the three months ended March 31, 2020 are summarized as follows:
|  | Americas |  |  | MEAP |  |  | Consolidated |
Balance as of January 1, 2019 |  | $ | 166.5 |  |  | $ | 66.3 |  |  | $ | 232.8 |
Foreign currency impact |  |  | — |  |  |  | (0.3 | ) |  |  | (0.3 | )
Balance as of December 31, 2019 |  |  | 166.5 |  |  |  | 66.0 |  |  |  | 232.5 |
Foreign currency impact |  |  | — |  |  |  | (2.2 | ) |  |  | (2.2 | )
Balance as of March 31, 2020 |  | $ | 166.5 |  |  | $ | 63.8 |  |  | $ | 230.3 |
Other intangible assets with definite lives are amortized over their estimated useful lives. The gross carrying amount, accumulated amortization and net book value of the Company’s intangible assets other than goodwill at March 31, 2020 and December 31, 2019 are summarized as follows:
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Trademarks and tradenames |  | $ | 94.2 |  |  | $ | — |  |  | $ | 94.2 |  |  | $ | 95.3 |  |  | $ | — |  |  | $ | 95.3 |
Customer relationships |  |  | 9.7 |  |  |  | (8.2 | ) |  |  | 1.5 |  |  |  | 10.0 |  |  |  | (8.5 | ) |  |  | 1.5 |
Patents |  |  | 29.2 |  |  |  | (28.4 | ) |  |  | 0.8 |  |  |  | 29.5 |  |  |  | (28.7 | ) |  |  | 0.8 |
Distribution network |  |  | 18.4 |  |  |  | — |  |  |  | 18.4 |  |  |  | 18.7 |  |  |  | — |  |  |  | 18.7 |
Net balance |  | $ | 151.5 |  |  | $ | (36.6 | ) |  | $ | 114.9 |  |  | $ | 153.5 |  |  | $ | (37.2 | ) |  | $ | 116.3 |
Amortization expense for each of the three months ended March 31, 2020 and 2019 was $0.1 million. Definite lived intangible assets and long-lived assets are subject to impairment testing whenever events or circumstances indicate that the carrying value of the assets may not be recoverable.

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- References No definition available. + Details
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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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