Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

5. GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

A reconciliation of goodwill at December 31, 2023 and 2022 is as follows:

(In thousands)	Aluminum Extrusions(a)		PE Films(a)		Total
Net carrying value of goodwill at December 31, 2021	$	13,270	$	57,338	$	70,608
Net carrying value of goodwill at December 31, 2022	13,270		57,338		70,608
Goodwill impairment	—		(34,891)		(34,891)
Net carrying value of goodwill at December 31, 2023	$	13,270	$	22,447	$	35,717
(a) The goodwill of Aluminum Extrusions and PE Films is carried by the Futura and Surface Protection reporting units, respectively.

A reconciliation of identifiable intangibles at December 31, 2023 and 2022 is as follows:

(In thousands)	Customer Relationships		Proprietary Technology		Trade Names		Total
Gross carrying value at December 31, 2022	$	26,549	$	3,726	$	13,394	$	43,669
Accumulated amortization	(15,467)		(3,672)		(12,840)		(31,979)
Net carrying value at December 31, 2022	$	11,082	$	54	$	554	$	11,690
Gross carrying value at December 31, 2023	$	26,575	$	3,732	$	13,460	$	43,767
Accumulated amortization	(17,270)		(3,687)		(12,959)		(33,916)
Net carrying value at December 31, 2023	$	9,305	$	45	$	501	$	9,851

Amortization expense over the next five years is expected to be as $1.9 million per year.