GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2020

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by reporting segment since December 31, 2019 are as follows:

	Beauty +				Food +		Corporate
	Home		Pharma		Beverage		& Other		Total
Goodwill	$	221,658	$	413,650	$	128,153	$	1,615	$	765,076
Accumulated impairment losses		—		—		—		(1,615)		(1,615)
Balance as of December 31, 2019	$	221,658	$	413,650	$	128,153	$	—	$	763,461
Acquisition		99,644		463		—		—		100,107
Foreign currency exchange effects		(473)		(1,175)		8		—		(1,640)
Goodwill	$	320,829	$	412,938	$	128,161	$	1,615	$	863,543
Accumulated impairment losses		—		—		—		(1,615)		(1,615)
Balance as of June 30, 2020	$	320,829	$	412,938	$	128,161	$	—	$	861,928

The table below shows a summary of intangible assets as of June 30, 2020 and December 31, 2019.

		June 30, 2020							December 31, 2019
Weighted Average		Gross						Gross
Amortization Period		Carrying		Accumulated		Net		Carrying		Accumulated		Net
	(Years)	Amount		Amortization		Value		Amount		Amortization		Value
Amortized intangible assets:
Patents	7.1	$	2,703		(1,334)	$	1,369	$	2,804	$	(1,318)	$	1,486
Acquired technology	12.6		105,020		(29,907)		75,113		100,511		(25,430)		75,081
Customer relationships	13.5		279,709		(43,561)		236,148		217,934		(33,924)		184,010
Trademarks and trade names	6.0		44,508		(13,568)		30,940		35,015		(11,003)		24,012
License agreements and other	15.5		22,480		(13,310)		9,170		16,153		(9,658)		6,495
Total intangible assets	12.6	$	454,420	$	(101,680)	$	352,740	$	372,417	$	(81,333)	$	291,084

Aggregate amortization expense for the intangible assets above for the quarters ended June 30, 2020 and 2019 was $12,320 and $6,386, respectively. Aggregate amortization expense for the intangible assets above for the six months ended June 30, 2020 and 2019 was $20,334 and $12,388, respectively.

Future estimated amortization expense for the years ending December 31 is as follows:

2020	$	19,192	(remaining estimated amortization for 2020)
2021		37,723
2022		37,443
2023		37,362
2024 and thereafter		221,020

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 June 30, 2020.