XML 22 R11.htm IDEA: XBRL DOCUMENT v3.23.3
GOODWILL AND OTHER INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The changes in the carrying amount of goodwill for the nine months ended September 30, 2023 by reporting segment were as follows:
Aptar
Pharma
Aptar
Beauty
Aptar ClosuresTotal
Balance as of December 31, 2022$498,742 $319,011 $127,879 $945,632 
Reclassification due to segment change— (39,472)39,472 — 
Acquisitions— 3,655 114 3,769 
Foreign currency exchange effects(5,191)(1,025)(148)(6,364)
Balance as of September 30, 2023$493,551 $282,169 $167,317 $943,037 
The table below shows a summary of intangible assets as of September 30, 2023 and December 31, 2022.
September 30, 2023December 31, 2022
Weighted Average Amortization Period (Years)Gross
Carrying
Amount
Accumulated
Amortization
Net
Value
Gross
Carrying
Amount
Accumulated
Amortization
Net
Value
Amortized intangible assets:
Patents9.8$7,181 $(1,617)$5,564 $8,044 $(1,968)$6,076 
Acquired technology11.4136,860 (65,378)71,482 135,191 (56,628)78,563 
Customer relationships13.5304,726 (116,570)188,156 305,994 (99,130)206,864 
Trademarks and trade names7.544,140 (32,555)11,585 43,998 (28,190)15,808 
License agreements and other31.416,910 (6,466)10,444 15,425 (6,992)8,433 
Total intangible assets13.3$509,817 $(222,586)$287,231 $508,652 $(192,908)$315,744 
Aggregate amortization expense for the intangible assets above for the quarters ended September 30, 2023 and 2022 was $11,400 and $10,678, respectively. Aggregate amortization expense for the intangible assets above for the nine months ended September 30, 2023 and 2022 was $33,494 and $32,772, respectively.
As of September 30, 2023, future estimated amortization expense for the years ending December 31 is as follows:
2023$11,473 
(remaining estimated amortization for 2023)
202441,267 
202539,565 
202637,287 
202726,026 
Thereafter131,613 
Future amortization expense may fluctuate depending on changes in foreign currency rates. The estimates for amortization expense noted above are based upon foreign exchange rates as of September 30, 2023.