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Goodwill and Identifiable Intangible Assets, Net
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Identifiable Intangible Assets, Net Goodwill and Identifiable Intangible Assets, Net
Goodwill allocated to the Company's reportable segments and changes in the carrying amount of goodwill were as follows:
(in thousands)
Titleist
Golf Balls
 
Titleist
Golf Clubs
 
Titleist
Golf Gear
 
FootJoy
Golf Wear
 
Other
 
Total
Balances at December 31, 2017
$
119,634

 
$
58,101

 
$
14,088

 
$
2,585

 
$
8,995

 
$
203,403

Acquisitions (Note 21)
8,492

 
—

 
—

 
1,071

 
—

 
9,563

Foreign currency translation
(1,931
)
 
(949
)
 
(222
)
 
(43
)
 
(150
)
 
(3,295
)
Balances at December 31, 2018
126,195

 
57,152

 
13,866

 
3,613

 
8,845

 
209,671

Acquisitions (Note 21)
—

 
—

 
—

 
—

 
4,749

 
4,749

Foreign currency translation
(214
)
 
(104
)
 
(25
)
 
(5
)
 
(16
)
 
(364
)
Balances at December 31, 2019
$
125,981

 
$
57,048

 
$
13,841

 
$
3,608

 
$
13,578

 
$
214,056

 
The net carrying value by class of identifiable intangible assets was as follows:
 
 
December 31, 2019
 
December 31, 2018
(in thousands)
 
Gross
 
Accumulated
Amortization
 
Net Book
Value
 
Gross
 
Accumulated
Amortization
 
Net Book
Value
Indefinite-lived:
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks
 
$
429,051

 
$
—

 
$
429,051

 
$
429,051

 
$
—

 
$
429,051

Amortizing:
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks
 
5,503

 
(492
)
 
5,011

 
1,600

 
(50
)
 
1,550

Completed technology
 
74,715

 
(46,370
)
 
28,345

 
73,900

 
(41,017
)
 
32,883

Customer relationships
 
27,127

 
(8,923
)
 
18,204

 
22,023

 
(7,250
)
 
14,773

Licensing fees and other
 
32,666

 
(32,483
)
 
183

 
32,384

 
(32,384
)
 
—

Total intangible assets
 
$
569,062

 
$
(88,268
)
 
$
480,794

 
$
558,958

 
$
(80,701
)
 
$
478,257


As a result of an acquisition completed during the year ended December 31, 2019, the Company recorded additions to identifiable intangible assets including amortizing trademarks, completed technology, customer relationships and other intangible assets of $3.9 million, $0.8 million, $5.1 million and $0.2 million, respectively (Note 21). The Company expects to amortize the acquired amortizing trademarks, completed technology, customer relationships and other intangible assets over an eight, six, seven and five year period, respectively.
As a result of acquisitions completed during the year ended December 31, 2018, the Company recorded additions to identifiable intangible assets including indefinite-lived trademarks, amortizing trademarks and customer relationships of $1.0 million, $1.6 million and $2.7 million, respectively (Note 21). The Company expects to amortize the acquired amortizing trademarks and customer relationships over an eight year period.
During the years ended December 31, 2019, 2018 and 2017, no impairment charges were recorded to goodwill or indefinite-lived intangible assets.
Identifiable intangible asset amortization expense was $7.5 million, $8.0 million and $9.3 million for the years ended December 31, 2019, 2018 and 2017, respectively, of which $1.4 million and $2.7 million associated with certain licensing fees was included in cost of goods sold for the years ended December 31, 2018 and 2017, respectively.
Identifiable intangible asset amortization expense for each of the next five fiscal years and beyond is expected to be as follows:
(in thousands)
 
Year ending December 31,
 
2020
$
7,835

2021
7,835

2022
7,835

2023
7,835

2024
7,815

Thereafter
12,588

Total
$
51,743