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Goodwill and Related Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Related Intangible Assets GOODWILL AND RELATED INTANGIBLE ASSETS
Goodwill
The changes in the carrying amount of goodwill for the years ended December 31 were as follows (in thousands):
 
Renewable Energy & Conservation
 
Residential Products
 
Industrial and Infrastructure Products
 
Total
Balance at December 31, 2017
$
68,719

 
$
198,075

 
$
54,280

 
$
321,074

Acquired goodwill
3,051

 
—

 
—

 
3,051

Adjustments to prior year acquisitions
—

 
—

 
(38
)
 
(38
)
Foreign currency translation
57

 
—

 
(473
)
 
(416
)
Balance at December 31, 2018
$
71,827

 
$
198,075

 
$
53,769

 
$
323,671

Acquired goodwill
5,857

 
—

 
—

 
5,857

Adjustments to prior year acquisitions
(172
)
 
—

 
—

 
(172
)
Foreign currency translation
90

 
—

 
259

 
349

Balance at December 31, 2019
$
77,602

 
$
198,075

 
$
54,028

 
$
329,705


Goodwill is recognized net of accumulated impairment losses of $235.4 million as of December 31, 2019 and 2018, respectively. No goodwill impairment charges were recognized by the Company during 2019 or 2018.
Annual Impairment Testing
The Company performed its annual goodwill impairment test as of October 31, 2019, 2018, and 2017.

During the October 31, 2019 impairment test, the Company conducted a quantitative analysis for all ten of the Company’s reporting units. The quantitative impairment test consists of comparing the fair value of a reporting unit with its carrying value including goodwill. The fair value of each reporting unit evaluated under the quantitative test was determined using two valuation techniques: an income approach and a market approach. Each valuation approach relies on significant assumptions including a weighted average cost of capital ("WACC") based upon the capital structure of market participants in the Company’s peer groups, projected revenue growth, forecasted cash flows, and earnings multiples based on the market value of the Company and market participants within its peer groups.
As a result of our annual testing for 2019 and 2018, none of the reporting units with goodwill as of our testing date had carrying values in excess of their fair values.
Interim Impairment Testing
The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis as of October 31 and at interim dates when indicators of impairment are present. In 2019, 2018 and 2017, no indicators of impairment were identified as of interim dates; therefore, no interim tests were performed.

Acquired Intangible Assets
Acquired intangible assets consist of the following (in thousands):
 
December 31, 2019
 
December 31, 2018
 
 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Estimated
Useful Life
Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
Trademarks
$
45,770

 
$
—

 
$
43,870

 
$
—

 
Indefinite
Finite-lived intangible assets:
 
 
 
 
 
 
 
 
 
Trademarks
6,139

 
4,105

 
6,094

 
3,518

 
3 to 15 Years
Unpatented technology
29,544

 
15,807

 
28,644

 
13,881

 
5 to 20 Years
Customer relationships
71,195

 
40,294

 
70,419

 
35,678

 
5 to 17 Years
Non-compete agreements
1,649

 
1,499

 
1,649

 
1,224

 
4 to 10 Years
 
108,527

 
61,705

 
106,806

 
54,301

 
 
Total acquired intangible assets
$
154,297

 
$
61,705

 
$
150,676

 
$
54,301

 
 

The Company did not recognize impairment charges related to indefinite-lived trademark intangible assets for the year ended December 31, 2019. During the years ended December 31, 2018 and 2017, the Company recognized impairment charges related to indefinite-lived trademark intangible assets. The Company also recognized impairment charges related to finite-lived intangible assets for the year ended December 31, 2018.
The following table summarizes the impairment charges for the years ended December 31 (in thousands):
 
2019
 
2018
 
2017
 
Indefinite-lived intangibles
 
Definite-lived intangibles
 
Indefinite-lived intangibles (1)
 
Definite-lived intangibles (2)
 
Indefinite-lived intangibles (3)
 
Definite-lived intangibles
Renewable Energy and Conservation
$
—

 
$
—

 
$
1,037

 
$
315

 
$
247

 
$
—

Residential Products
—

 
—

 
200

 
—

 
—

 
—

Industrial and Infrastructure Products
—

 
—

 
—

 
—

 
—

 
—

Impairment charges
$
—

 
$
—

 
$
1,237

 
$
315

 
$
247

 
$
—

(1) Residential Products impairment charges due to annual testing. Renewable Energy and Conservation impairment charges due to the annual testing in its international solar racking business and restructuring in its domestic greenhouse business.
(2) Renewable Energy and Conservation impairment charges due to the restructuring in its domestic greenhouse business.
(3) Renewable Energy and Conservation impairment charges due to the discontinuation of its domestic greenhouse business in China.

The Company recognized amortization expense related to the definite-lived intangible assets. The following table summarizes amortization expense for the years ended December 31 (in thousands):
 
2019
 
2018
 
2017
Amortization expense
$
7,271

 
$
8,222

 
$
8,761


Amortization expense related to acquired intangible assets for the next five years ended December 31 is estimated as follows (in thousands):
 
2020
 
2021
 
2022
 
2023
 
2024
Amortization expense
$
7,133

 
$
6,938

 
$
6,460

 
$
5,922

 
$
5,666