Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 8. Goodwill and Intangible Assets

Goodwill at December 31, 2019 increased to $203,743,000 from $55,816,000 at December 31, 2018. This $147,927,000 increase was primarily due to the Jack Wolfskin acquisition in January 2019 (see Note 5), which increased goodwill by $147,781,000. The additional increase of $146,000 was related to changes in foreign currency rates period over period. The Company's goodwill is reported in both the Golf Equipment and Apparel, Gear and Other operating segments (see Note 19).

In accordance with ASC Topic 350, “Intangibles—Goodwill and Other,” the Company’s goodwill and non-amortizing intangible assets are subject to an annual impairment test or more frequently when impairment indicators are present. There were no impairment charges recognized during the years ended December 31, 2019 and 2018. The following sets forth the intangible assets by major asset class:

	Useful Life (Years)	December 31, 2019							December 31, 2018
		Gross		Accumulated Amortization			Net Book Value		Gross		Accumulated Amortization			Net Book Value
				(In thousands)							(In thousands)
Indefinite-lived:
Trade name, trademark and trade dress and other	NA	$	453,837		$	—	$	453,837	$	218,364		$	—	$	218,364
Amortizing:
Patents	2-16	31,581			31,581		—		31,581			31,543		38
Customer and distributor relationships, and other	1-9	53,904			14,318		39,586		15,780			9,490		6,290
Total intangible assets		$	539,322		$	45,899	$	493,423	$	265,725		$	41,033	$	224,692

Aggregate amortization expense on intangible assets was approximately $4,866,000, $1,066,000 and $546,000 for the years ended December 31, 2019, 2018 and 2017, respectively. Amortization expense related to intangible assets at December 31, 2019 in each of the next five fiscal years and beyond is expected to be incurred as follows (in thousands):

2020	$	4,780
2021	4,724
2022	4,548
2023	4,409
2024	4,409
Thereafter	16,716
	$	39,586