XML 21 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net (Notes)
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, Net GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Goodwill
Movements in goodwill during 2020 were as follows:
(DOLLARS IN THOUSANDS)Goodwill
Balance at December 31, 2019$5,497,596  
Measurement period adjustments(1)
(15,283) 
Foreign exchange(133,690) 
Balance at June 30, 2020$5,348,623  
_______________________ 
(1)Measurement period adjustments relate to adjustments recorded in connection with completing the purchase price allocation related to the 2019 Acquisition Activity. See Note 3 for details.
Reallocation of goodwill
        In the first quarter of 2020, in connection with the reorganization of the Company's reporting structure, certain entities were moved between reporting units. As a result of the movements, Goodwill was reallocated between reporting units as follows:
(DOLLARS IN THOUSANDS)Increase (decrease) to Goodwill
Cosmetic Active Ingredients$85,235  
Natural Product Solutions(57,102) 
Fine Ingredients(25,256) 
Taste (2,877) 
Total$—  
See Note 11 for further information on the reorganization.
Other Intangible Assets
Other intangible assets, net consisted of the following amounts: 
June 30,December 31,
(DOLLARS IN THOUSANDS)20202019
Asset Type
Customer relationships$2,603,580  $2,653,446  
Trade names & patents177,336  178,968  
Technological know-how461,526  468,256  
Other26,133  40,362  
Total carrying value 3,268,575  3,341,032  
Accumulated Amortization
Customer relationships(387,510) (302,047) 
Trade names & patents(32,740) (27,213) 
Technological know-how(146,491) (135,269) 
Other(20,747) (24,568) 
Total accumulated amortization(587,488) (489,097) 
Other intangible assets, net$2,681,087  $2,851,935  
 
Amortization
Amortization expense was $48.8 million and $47.9 million for the three months ended June 30, 2020 and 2019, respectively and $97.2 million and $95.5 million for the six months ended June 30, 2020 and 2019, respectively.
Amortization expense for the next five years is expected to be as follows:
(DOLLARS IN THOUSANDS)20202021202220232024
Estimated future intangible amortization expense$91,831  $180,995  $177,174  $177,062  $177,062