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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
During the three months ended March 31, 2019, in an effort to better align the Company's machining competencies and resources, the Company began reporting its machined products operations within the Specialty Products reportable segment. These operations were previously reported in the Company's Aerospace reportable segment. As a result of the reporting structure change, the Company's previous Aerospace reporting unit was split into two new reporting units, Machined Products and Aerospace. The Company reallocated the goodwill attributed to the previous Aerospace reporting unit on a relative fair value basis between the Machined Products and the new Aerospace reporting units, resulting in an allocation of goodwill of $12.7 million and $133.7 million, respectively.
After the reallocation of goodwill, the Company performed a Step I quantitative assessment for both the Machined Products and the new Aerospace reporting units. As part of this assessment, the Company determined that the fair value of the Aerospace reporting unit exceeded its carrying value by more than 34% and the fair value of the Machined Products reporting unit exceeded its carrying value by more than 13%.
Changes in the carrying amount of goodwill for the nine months ended September 30, 2019 are summarized as follows (dollars in thousands):
 
Packaging
 
Aerospace
 
Specialty Products
 
Total
Balance, December 31, 2018
$
163,660

 
$
146,430

 
$
6,560

 
$
316,650

Goodwill from acquisitions
18,400

 
—

 
—

 
18,400

Goodwill reassigned in segment realignment
—

 
(12,740
)
 
12,740

 
—

Foreign currency translation and other
(2,380
)
 
—

 
—

 
(2,380
)
Balance, September 30, 2019
$
179,680

 
$
133,690

 
$
19,300

 
$
332,670


The Company amortizes its other intangible assets over periods ranging from one to 30 years. The gross carrying amounts and accumulated amortization of the Company's other intangibles are summarized below (dollars in thousands):
 
 
As of September 30, 2019
 
As of December 31, 2018
Intangible Category by Useful Life
 
Gross Carrying Amount
 
Accumulated Amortization
 
Gross Carrying Amount
 
Accumulated Amortization
Finite-lived intangible assets:
 

 

 

 

   Customer relationships, 5 – 12 years
 
$
80,780

 
$
(54,490
)
 
$
73,450

 
$
(48,410
)
   Customer relationships, 15 – 25 years
 
132,230

 
(63,970
)
 
132,230

 
(58,790
)
Total customer relationships
 
213,010

 
(118,460
)
 
205,680

 
(107,200
)
   Technology and other, 1 – 15 years
 
57,020

 
(33,700
)
 
57,020

 
(31,600
)
   Technology and other, 17 – 30 years
 
43,300

 
(37,110
)
 
43,300

 
(35,600
)
Total technology and other
 
100,320

 
(70,810
)
 
100,320

 
(67,200
)
Indefinite-lived intangible assets:
 

 

 

 

 Trademark/Trade names
 
47,320

 
—

 
42,930

 
—

Total other intangible assets
 
$
360,650

 
$
(189,270
)
 
$
348,930

 
$
(174,400
)

Amortization expense related to intangible assets as included in the accompanying consolidated statement of income is summarized as follows (dollars in thousands):
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Technology and other, included in cost of sales
 
$
1,200

 
$
1,230

 
$
3,610

 
$
3,680

Customer relationships, included in selling, general and administrative expenses
 
3,750

 
3,630

 
11,310

 
10,920

Total amortization expense
 
$
4,950

 
$
4,860

 
$
14,920

 
$
14,600