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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 9. Goodwill and Other Intangible Assets The Company performs its annual goodwill and indefinite lived assets impairment testing during the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. During the first quarter of 2020, the Company considered the decline in its market capitalization due to the COVID-19 pandemic as an interim triggering event. The Company’s interim test results as of March 31, 2020 indicated that the fair values of all reporting units exceeded their carrying values and thus, no impairment of goodwill existed. The Company again tested goodwill for impairment in the fourth quarter as part of its annual testing, and based on the results of that test, no impairment was indicated. As the Company is unable to predict future impacts of the COVID-19 pandemic, including a more prolonged and/or severe pandemic than anticipated, or future changes in management’s judgements and assumptions used to assess the fair value of the reporting units, which would result in a non-cash impairment charge in the future, it 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 and projected operating income. 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 changes in carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows:
|  | Americas |  |  | MEAP |  |  | Consolidated |
Balance as of January 1, 2019 |  | $ | 166.5 |  |  | $ | 66.3 |  |  | $ | 232.8 |
Foreign currency impact |  |  | — |  |  |  | (0.3 | ) |  |  | (0.3 | )
Net balance as of December 31, 2019 |  |  | 166.5 |  |  |  | 66.0 |  |  |  | 232.5 |
Foreign currency impact |  |  | — |  |  |  | 2.6 |  |  |  | 2.6 |
Net balance as of December 31, 2020 |  | $ | 166.5 |  |  | $ | 68.6 |  |  | $ | 235.1 |
The gross carrying amount, accumulated amortization and net book value of the Company’s intangible assets other than goodwill as of December 31, 2020 and 2019 are summarized as follows:
|  | December 31, 2020 |  |  | December 31, 2019 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |
Definite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 9.9 |  |  | $ | (8.6 | ) |  | $ | 1.3 |  |  | $ | 10.0 |  |  | $ | (8.5 | ) |  | $ | 1.5 |
Patents |  |  | 31.0 |  |  |  | (30.3 | ) |  |  | 0.7 |  |  |  | 29.5 |  |  |  | (28.7 | ) |  |  | 0.8 |
Total |  |  | 40.9 |  |  |  | (38.9 | ) |  |  | 2.0 |  |  |  | 39.5 |  |  |  | (37.2 | ) |  |  | 2.3 |
Indefinite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and tradenames |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | 95.3 |  |  |  | — |  |  |  | 95.3 |
Distribution network |  |  | 19.6 |  |  |  | — |  |  |  | 19.6 |  |  |  | 18.7 |  |  |  | — |  |  |  | 18.7 |
Total |  |  | 119.6 |  |  |  | — |  |  |  | 119.6 |  |  |  | 114.0 |  |  |  | — |  |  |  | 114.0 |
Total other intangible assets |  | $ | 160.5 |  |  | $ | (38.9 | ) |  | $ | 121.6 |  |  | $ | 153.5 |  |  | $ | (37.2 | ) |  | $ | 116.3 |
Amortization of intangible assets for the years ended December 31, 2020, 2019 and 2018 was $0.3 million, $0.3 million and $0.3 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. 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. The Company considered the impact of the COVID-19 pandemic on each of the Company’s indefinite lived intangible assets, definite lived intangible assets and long-lived assets. The Company determined there was not a triggering event during the year ended December 31, 2020.

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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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