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Goodwill And Other Intangible Assets | 12 Months Ended
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Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill And Other Intangible Assets | GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS The components of goodwill and identifiable intangibles at December 31, 2017 and 2016, and related amortization periods for continuing operations are as follows:
(In thousands) |  | 2017 |  | 2016 |  | Amortization Periods
Goodwill | $ | 128,208 |  |  | $ | 117,822 |  |  | Not amortized
Identifiable intangible assets:(a) |  |  |  |  |
Customer relationships (cost basis of $29,647 in 2017 and $26,021 in 2016) | 25,444 |  |  | 14,844 |  |  | 10-12 years
Proprietary technology (cost basis of $6,203 in 2017 and $17,366 in 2016) | 1,700 |  |  | 7,582 |  |  | Not more than 15 years
Trade names (cost basis of $13,887 in 2017 and $11,175 in 2016) | 13,408 |  |  | 11,175 |  |  | 5 - 13 years(b)
Total carrying value of identifiable intangibles | 40,552 |  |  | 33,601 |  |  |
Total carrying value of goodwill and identifiable intangible assets | $ | 168,760 |  |  | $ | 151,423 |  |  |
(a) Identifiable intangibles also includes non-compete agreements, which have been fully amortized. These identifiable intangible assets, which have a cost basis of $1.9 million, were previously amortized over 2 years. (b) Includes $4.8 million of trade names with an indefinite life. A reconciliation of the beginning and ending balance of goodwill for each of the two years in the period ended December 31, 2017 is as follows:
(In thousands) |  | PE Films |  | Aluminum Extrusions |  | Total
Net carrying value of goodwill at January 1, 2016 | $ | 104,143 |  |  | $ | 13,696 |  |  | $ | 117,839 |
Increase (decrease) due to foreign currency translation | (17 | ) |  | — |  |  | (17 | )
Net carrying value of goodwill at December 31, 2016 | 104,126 |  |  | 13,696 |  |  | 117,822 |
Acquisitions | — |  |  | 10,370 |  |  | 10,370 |
Increase (decrease) due to foreign currency translation | 16 |  |  | — |  |  | 16 |
Net carrying value of goodwill at December 31, 2017 | $ | 104,142 |  |  | $ | 24,066 |  |  | $ | 128,208 |
The goodwill at PE Films is carried by the personal care division and the surface protection division in the amounts of $46.8 million and $57.3 million, respectively, as of December 31, 2017. The goodwill at Aluminum Extrusions is carried by its AACOA division and Futura division (which was acquired on February 15, 2017) in the amounts of $13.7 million and $10.4 million, respectively, as of December 31, 2017. A reconciliation of the beginning and ending balance of identifiable intangibles for each of the two years in the period ended December 31, 2017 is as follows:
(In thousands) | Customer Relationships |  | Proprietary Technology |  | Trade Names |  | Total
PE Films: |  |  |  |  |  |  |
| Net carrying value at January 1, 2016 | $ | — |  |  | $ | 1,073 |  |  | $ | — |  |  | $ | 1,073 |
|  | Amortization expense | — |  |  | (114 | ) |  | — |  |  | (114 | )
| Net carrying value at December 31, 2016 | — |  |  | 959 |  |  | — |  |  | 959 |
|  | Amortization expense | — |  |  | (114 | ) |  | — |  |  | (114 | )
| Net carrying value at December 31, 2017 | $ | — |  |  | $ | 845 |  |  | $ | — |  |  | $ | 845 |
Flexible Packaging Films: |  |  |  |  |  |  |
| Net carrying value at January 1, 2016 | $ | 12,380 |  |  | $ | 6,362 |  |  | $ | 5,776 |  |  | $ | 24,518 |
|  | Amortization expense | (1,700 | ) |  | (1,131 | ) |  | — |  |  | (2,831 | )
|  | Increase (decrease) due to foreign currency translation | 1,404 |  |  | 343 |  |  | 599 |  |  | 2,346 |
| Net carrying value at December 31, 2016 | 12,084 |  |  | 5,574 |  |  | 6,375 |  |  | 24,033 |
|  | Amortization expense | (1,793 | ) |  | (1,161 | ) |  | — |  |  | (2,954 | )
|  | Increase (decrease) due to foreign currency translation | (16 | ) |  | (2 | ) |  | (33 | ) |  | (51 | )
|  | Impairment loss | (9,444 | ) |  | (4,051 | ) |  | (4,005 | ) |  | (17,500 | )
| Net carrying value at December 31, 2017 | $ | 831 |  |  | $ | 360 |  |  | $ | 2,337 |  |  | $ | 3,528 |
Aluminum Extrusions: |  |  |  |  |  |  |
| Net carrying value at January 1, 2016 | $ | 3,240 |  |  | $ | 1,602 |  |  | $ | 4,800 |  |  | $ | 9,642 |
|  | Amortization expense | (480 | ) |  | (553 | ) |  | — |  |  | (1,033 | )
| Net carrying value at December 31, 2016 | 2,760 |  |  | 1,049 |  |  | 4,800 |  |  | 8,609 |
|  | Additions related to acquisition of Futura | 24,000 |  |  | — |  |  | 6,700 |  |  | 30,700 |
|  | Amortization expense | (2,147 | ) |  | (554 | ) |  | (429 | ) |  | (3,130 | )
| Net carrying value at December 31, 2017 | $ | 24,613 |  |  | $ | 495 |  |  | $ | 11,071 |  |  | $ | 36,179 |
Total net carrying value of identifiable intangibles at December 31, 2017 | $ | 25,444 |  |  | $ | 1,700 |  |  | $ | 13,408 |  |  | $ | 40,552 |
During the fourth quarter of 2017, in conjunction with annual business planning as well as valuation activities and other efforts, the Company determined that the carrying value of Terphane’s remaining long-lived assets were impaired (Terphane’s goodwill was written off in 2015). Accordingly, the Company wrote down these assets based on an enterprise valuation for all of Terphane of approximately $30 million. This write-down resulted in a non-cash asset impairment loss recognized during the fourth quarter of 2017 of $101 million ($87 million after non-cash tax benefits). As part of this write-down, customer relationships, proprietary technology and trade names were impaired by $9.4 million, $4.1 million and $4.0 million, respectively, reducing their values to $0.8 million, $0.4 million and $2.4 million, respectively. The remaining part of this write-down was related to property, plant and equipment. Also, Terphane’s trade names were assigned estimated useful lives of 5 to 13 years, a change from the previous designation of an indefinite life. Amortization expense for continuing operations over the next five years is expected to be as follows:
Year | Amount (In thousands)
2018 | $ | 3,985 |
2019 | 3,585 |
2020 | 3,585 |
2021 | 3,585 |
2022 | 3,460 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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