XML 28 R17.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets Disclosure [Text Block]

Note 11 – Goodwill and Other Intangible Assets

The Company has historically completed its annual goodwill impairment test as of the end of the third quarter of each year, or more frequently if triggering events indicate a possible impairment in one or more of its reporting units. The Company continually evaluates financial performance, economic conditions and other relevant developments in assessing if an interim period impairment test for one or more of its reporting units is necessary. The Company has recorded no impairment charges in its past.

Changes in the carrying amount of goodwill for the six months ended June 30, 2017 were as follows:

		North						South
		America		EMEA		Asia/Pacific		America		Total
Balance as of December 31, 2016		$	45,490	$	18,189	$	14,566	$	2,559	$	80,804
	Goodwill additions		1,832		—		—		—		1,832
	Currency translation adjustments		255		1,465		447		(41)		2,126
Balance as of June 30, 2017		$	47,577	$	19,654	$	15,013	$	2,518	$	84,762

Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of June 30, 2017 and December 31, 2016 were as follows:

	Gross Carrying				Accumulated
	Amount				Amortization
	2017		2016		2017		2016
Customer lists and rights to sell	$	75,844	$	71,454	$	22,764	$	20,043
Trademarks, formulations and product technology		32,618		31,436		13,143		11,748
Other		6,090		6,023		5,339		5,151
Total definite-lived intangible assets	$	114,552	$	108,913	$	41,246	$	36,942

The Company recorded $1.8 million and $3.6 million of amortization expense for the three and six months ended June 30, 2017, respectively. Comparatively, the Company recorded $1.8 million and $3.6 million of amortization expense for the three and six months ended June 30, 2016, respectively. Estimated annual aggregate amortization expense for the current year and subsequent five years is as follows:

For the year ended December 31, 2017	$	7,387
For the year ended December 31, 2018		7,246
For the year ended December 31, 2019		7,144
For the year ended December 31, 2020		6,862
For the year ended December 31, 2021		6,491
For the year ended December 31, 2022		6,370

The Company has two indefinite-lived intangible assets totaling $1.1 million for trademarks at June 30, 2017 and December 31, 2016.

- 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 + Details