Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill And Intangible Assets [Abstract]

Goodwill And Intangible Assets [Text Block]

Note 13 – Goodwill and Other Intangible Assets 

Changes in the carrying amount of goodwill for the three months ended March 31, 2022 were as follows:

Global

Specialty

Americas

EMEA

Asia/Pacific

Businesses

Total

Balance as of December 31, 2021

$

214,023

$

135,520

$

162,458

$

119,193

$

631,194

Goodwill additions

1,752

—

—

32

1,784

Currency translation adjustments

1,376

(2,569)

(328)

(519)

(2,040)

Balance as of March 31, 2022

$

217,151

$

132,951

$

162,130

$

118,706

$

630,938

Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of March 31, 2022 and December 31,

2021 were as follows:

Gross Carrying

Accumulated

Amount

Amortization

2022

2021

2022

2021

Customer lists and rights to sell

$

855,309

$

853,122

$

159,576

$

147,858

Trademarks, formulations and product technology

162,408

163,974

40,565

38,747

Other

6,361

6,309

5,989

5,900

Total definite-lived intangible assets

$

1,024,078

$

1,023,405

$

206,130

$

192,505

The Company amortizes definite-lived intangible assets on a straight-line basis over their useful lives. The Company recorded

$

14.6

 million and $

14.8

 million of amortization expense for the three months ended March 31, 2022 and 2021, respectively. 

Estimated annual aggregate amortization expense for the current year and subsequent five years is as follows:

For the year ended December 31, 2022

$

59,465

For the year ended December 31, 2023

59,293

For the year ended December 31, 2024

58,701

For the year ended December 31, 2025

57,924

For the year ended December 31, 2026

57,678

For the year ended December 31, 2027 and beyond

532,124

The Company has four indefinite-lived intangible assets totaling $

194.1

 million as of March 31, 2022, including $

193.0

 million of

indefinite-lived intangible assets for trademarks and tradename associated with the Combination. Comparatively, the Company had

four indefinitely-lived intangible assets for trademarks and tradename totaling $

196.9

 million as of December 31, 2021.