Goodwill and Intangible Assets, Net

3 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

Goodwill at the dates indicated was as follows: 

	At September 30,				At December 31,
(in thousands)	2020		2019		2019
North America	$	96,161	$	96,192	$	96,244
Europe	36,215		33,710		34,300
Asia/Pacific	1,358		1,289		1,335
Total	$	133,734	$	131,191	$	131,879

Intangible assets, net, at the dates indicated were as follows: 

	At September 30, 2020
	Gross				Net
	Carrying		Accumulated		Carrying
(in thousands)	Amount		Amortization		Amount
North America	$	33,755	$	(21,761)	$	11,994
Europe	25,930		(16,960)		8,970
Total	$	59,685	$	(38,721)	$	20,964

	At September 30, 2019
	Gross				Net
(in thousands)	Carrying Amount		Accumulated Amortization		Carrying Amount
North America	$	31,305	$	(18,461)	$	12,844
Europe	23,351		(14,379)		8,972
Total	$	54,656	$	(32,840)	$	21,816

	At December 31, 2019
	Gross				Net
(in thousands)	Carrying Amount		Accumulated Amortization		Carrying Amount
North America	$	33,756	$	(19,173)	$	14,583
Europe	25,500		(15,012)		10,488
Total	$	59,256	$	(34,185)	$	25,071

Intangible assets consist of definite-lived and indefinite-lived assets. Definite-lived intangible assets include customer relationships, patents, unpatented technology, and non-compete agreements. Amortization expense of definite-lived intangible assets was $1.7 million and $1.4 million for the three months ended September 30, 2020 and 2019, respectively, and was $4.5 million and $4.1 million for the nine months ended September 30, 2020 and 2019, respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 5.5 years.

The only indefinite-lived intangible asset, consisting of a trade name, totaled $0.6 million at September 30, 2020.

At September 30, 2020, the estimated future amortization of definite-lived intangible assets was as follows: 

(in thousands)
Remaining three months of 2020	$	1,508
2021	5,542
2022	3,483
2023	2,662
2024	1,710
2025	1,462
Thereafter	3,981
	$	20,348

The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2020, were as follows: 

			Intangible
(in thousands)	Goodwill		Assets
Balance at December 31, 2019	$	131,879	$	25,071
Amortization	—		(4,538)
Foreign exchange	1,855		431
Balance at September 30, 2020	$	133,734	$	20,964