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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill activity for each of the Company’s reportable segments that carry goodwill, Specialty Chemicals and Engineered Materials (“SCEM”), Microcontamination Control (“MC”), Advanced Materials Handling (“AMH”), and Advanced Planarization Solutions (“APS”) for the years ended December 31, 2022 and 2021 is shown below:
(In thousands)SCEMMCAMHAPSTotal
December 31, 2020$427,713 $247,154 $73,170 $— $748,037 
Addition due to acquisitions42,819 — 932 — 43,751 
Purchase accounting adjustments— — — — — 
Foreign currency translation343 1,571 — — 1,914 
December 31, 2021470,875 248,725 74,102 — 793,702 
Addition due to acquisition210,122 — — 3,418,335 3,628,457 
Purchase accounting adjustments5 — — — 5 
Goodwill reallocation(110,798)— — 110,798 — 
Goodwill included in assets held-for-sale (8,822)— — — (8,822)
Foreign currency translation(54)(6,637)— 1,680 (5,011)
December 31, 2022$561,328 $242,088 $74,102 $3,530,813 $4,408,331 
As of December 31, 2022, goodwill amounted to approximately $4,408.3 million, an increase of $3,614.6 million from the balance at December 31, 2021. The increase in goodwill in 2022 reflects the acquisition of CMC Materials as described in Note 3, foreign currency translation, goodwill reclassified to asset held-for-sale as described in Note 4 and goodwill reallocation. The goodwill reallocation related to the creation of our new APS segment during the third quarter of 2022, which included a transfer of some related operations in our SCEM reportable segment to our APS reportable segment. We have allocated goodwill to our reporting units using a relative fair value approach. In addition, we completed an assessment of any potential goodwill impairment for all reporting units immediately prior and subsequent to the reallocation and determined that no impairment existed. There were no goodwill impairments for any of the years presented.
The increase in goodwill in 2021 reflects the acquisition of the Precision Microchemicals business described in Note 3, other immaterial acquisition and foreign currency translation.
Identifiable intangible assets at December 31, 2022 and 2021 consist of the following:
2022
(In thousands)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,302,101 $313,876 $988,225 7.3
Trademarks and trade names250,473 29,565 220,908 14.3
Customer relationships863,947 273,039 590,908 15.4
In-process research and development (1)
31,100 — 31,100 
Other31,206 20,392 10,814 4.3
$2,478,827 $636,872 $1,841,955 10.8
(1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets.
2021
(In thousands)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$293,982 $232,722 $61,260 7.2
Trademarks and trade names33,553 20,340 13,213 10.6
Customer relationships481,674 227,350 254,324 12.4
Other20,505 14,189 6,316 6.6
$829,714 $494,601 $335,113 10.3
The table below sets forth the amortization expense for finite-lived intangible assets for the years ended December 31, 2022, 2021, and 2020:
(In thousands)202220212020
Amortization expense$143,953 $47,856 $53,092 
The amortization expense for each of the five succeeding years and thereafter relating to finite-lived intangible assets currently recorded in the Company’s consolidated balance sheets is estimated to be the following at December 31, 2022:
(In thousands)20232024202520262027ThereafterTotal
Future amortization expense$230,469 211,437 204,917 203,373 199,859 791,900 $1,841,955