XML 66 R35.htm IDEA: XBRL DOCUMENT v3.21.1
ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]  
Schedule of details of Parent Company's subsidiaries
Details of the Parent Company’s subsidiaries are as follows:
Name of SubsidiaryPrincipal
Activity
Country of Incorporation
and Residence
Proportion of Ownership
Interest and Voting Power Held as of:
December 31, 2020December 31, 2019
Better Packages, Inc.ManufacturingUnited States100%100%
Capstone Polyweave Private LimitedManufacturingIndia55%55%
FIBOPE Portuguesa-Filmes Biorientados, S.A.ManufacturingPortugal100%100%
GPCP, Inc.ManufacturingUnited States50.1%50.1%
Intertape Polymer Corp.ManufacturingUnited States100%100%
Intertape Polymer Europe GmbHDistributionGermany100%100%
Intertape Polymer Inc.ManufacturingCanada100%100%
Intertape Polymer Japan GKDistributionJapan100%100%
Intertape Polymer Woven USA Inc.ManufacturingUnited States100%100%
Intertape Woven Products Services, S.A. de C.V.Non-operatingMexico100%100%
Intertape Woven Products, S.A. de C.V.Non-operatingMexico100%100%
IPG (US) Holdings Inc.HoldingUnited States100%100%
IPG (US) Inc.HoldingUnited States100%100%
IPG Mauritius Holding Company LtdHoldingMauritius100%100%
IPG Mauritius II LtdHoldingMauritius100%100%
IPG Mauritius LtdHoldingMauritius100%100%
Polyair Canada LimitedManufacturingCanada100%100%
Polyair CorporationManufacturingUnited States100%100%
Powerband Industries Private LimitedManufacturingIndia100%100%
Spuntech Fabrics Inc.HoldingCanada100%100%
Schedule of estimated useful lives of property, plant and equipment
Depreciation is recognized using the straight-line method over the estimated useful lives of like assets as outlined below or, if lower, over the terms of the related leases:
 Years
LandIndefinite
Buildings and related major components
3 to 60
Manufacturing equipment and related major components
4 to 30
Computer equipment and software
3 to 15
Furniture, office equipment and other
3 to 10
Assets related to restoration provisionsExpected remaining term of the lease
Schedule of estimated useful lives of intangible assets
Amortization is recognized using the straight-line method over their estimated useful lives as follows:
 Years
Distribution rights and customer contracts
6 to 15
Customer lists, license agreements and software
1 to 20
Patents and trademarks being amortized
2 to 13
Non-compete agreements
3 to 10