
(in thousands)	North America		Europe		Asia Pacific		Total
Balance as of January 1, 2020	$	96,244	$	34,300	$	1,335	$	131,879
Goodwill acquired	—		106		—		106
Foreign exchange	67		3,661		139		3,867

Reclassifications	—		(8)		—		(8)
Balance as of December 31, 2020	96,311		38,059		1,474		135,844

Foreign exchange	(4)		(1,622)		(90)		(1,716)

Reclassifications	—		(106)		—		(106)
Balance as of December 31, 2021	$	96,307	$	36,331	$	1,384	$	134,022

The Company tests goodwill for impairment at the reporting unit level on an annual basis (in the fourth quarter). Our goodwill balance is not amortized to expense, and we may assess qualitative factors and quantitative factors to determine whether it is more likely than not that the fair value of each reporting unit is less than its carrying amount as a basis for determining whether it is necessary to complete quantitative impairment assessments. The reporting unit level is generally one level below the operating segment, which is at the country level, except for the U.S., Australia and S&P Clever reporting units.

The Company determined that the U.S. reporting unit includes four components: Northwest United States, Southwest United States, Northeast United States and Southeast United States. The Australia reporting unit includes two components: Australia and New Zealand. The S&P Clever reporting unit includes multiple European countries that are evaluated as one reporting unit. For each of these reporting units, the Company aggregated the components because management concluded that they are economically similar and that the goodwill is recoverable from these components working in concert.

We evaluate the recoverability of goodwill in accordance with Accounting Standard Codification (“ASC”) Topic 350, “Intangibles - Goodwill and Other. In addition, the Company prospectively adopted as part of its review in 2018 the Financial Accounting Standard Board (FASB) issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.

We assessed the qualitative factors related to the goodwill of the reporting units to determine whether it is necessary to perform an impairment test. We also considered quantitative factors due to the effects of the COVID-19 pandemic. If the Company judges that it is more likely than not that the fair value of the reporting unit is greater than the carrying amount, including goodwill, no further testing is required. This assessment method was utilized in our 2020 annual goodwill impairment test.

In 2021, the Company applied the ("Step 1") approach where the Company compares the fair value of the reporting unit to its carrying value. The fair value calculation uses both the income approach (discounted cash flow method) and the market approach, equally weighted. If the Company determines that the carrying value of the net assets assigned to the reporting unit, including goodwill, exceeds the fair value of the reporting unit, no further action taken. If the Company determines that the carrying value of a reporting unit’s goodwill exceeds its implied fair value, the Company would record an impairment charge equal to the difference between the implied fair value of the goodwill and the carrying value.

The 2021 and 2020 annual testing of goodwill for impairment did not result in impairment charges. "See Item 7 - Critical Accounting Policies and Estimates -Goodwill and Other Intangible Assets".

Intangible assets from acquired businesses or asset purchases are recognized at their estimated fair values on the date of acquisition and consist of patents, unpatented technology, non-compete agreements, trademarks, customer relationships and other intangible assets. Finite-lived intangibles are amortized to expense over the applicable useful lives, ranging from three to twenty-one years, based on the nature of the asset and the underlying pattern of economic benefit as reflected by future net cash inflows. The Company performs an impairment test of finite-lived intangibles whenever events or changes in circumstances indicate their carrying value may be impaired.

The total gross carrying amount and accumulated amortization of definite-lived intangible assets at December 31, 2021 was $73.0 million and $46.7 million, respectively. The aggregate amount of amortization expense of intangible assets for the years ended December 31, 2021, 2020 and 2019 was $6.4 million $6.1 million and $5.5 million, respectively. The weighted-average remaining amortization period for all amortizable intangibles on a combined basis is 8.0 years.

The annual changes in the carrying amounts of patents, unpatented technologies, customer relationships and non-compete agreements and other intangible assets subject to amortization for the years ended December 31, 2021 and 2020 were as follows:


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Patents
Balance at January 1, 2020	$	4,659	$	(561)	$	4,098
Purchases	40		—		40
Amortization	—		(373)		(373)



Balance at December 31, 2020	4,699		(934)		3,765
Purchases	6,074		—		6,074
Amortization	—		(428)		(428)



Balance at December 31, 2021	$	10,773	$	(1,362)	$	9,411


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Unpatented Technology
Balance at January 1, 2020	$	21,616	$	(14,361)	$	7,255
Amortization	—		(2,131)		(2,131)


Foreign exchange	488		—		488

Balance at December 31, 2020	22,104		(16,492)		5,612

Amortization	—		(2,174)		(2,174)
Reclassifications	348		—		348
Foreign exchange	(49)		—		(49)

Balance at December 31, 2021	$	22,403	$	(18,666)	$	3,737


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Non-Compete Agreements, Trademarks and Other

Balance at January 1, 2020	$	14,703	$	(5,529)	$	9,174
Purchases	6,700				6,700

Amortization	—		(2,195)		(2,195)
Foreign exchange	179		—		179


Balance at December 31, 2020	21,582		(7,724)		13,858


Amortization	—		(2,631)		(2,631)

Foreign exchange	(148)		—		(148)

Balance at December 31, 2021	$	21,434	$	(10,355)	$	11,079


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer Relationships
Balance at January 1, 2020	$	17,660	$	(13,732)	$	3,928
Acquisition	290		—		290
Amortization	—		(1,443)		(1,443)

Foreign exchange	173		—		173

Balance at December 31, 2020	18,123		(15,175)		2,948

Disposal	(217)		—		(217)
Amortization	—		(1,186)		(1,186)

Foreign exchange	(117)		—		(117)

Balance at December 31, 2021	$	17,789	$	(16,361)	$	1,428


	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(in thousands)
Total Intangible Assets
North America	$	40,786	$	(22,697)	$	18,089
Europe	26,341		(17,630)		8,711
Total	$	67,127	$	(40,327)	$	26,800


	At December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
(in thousands)
Total Intangible Assets
North America	$	46,643	$	(26,346)	$	20,297
Europe	26,371		(20,399)		5,972
Total	$	73,014	$	(46,745)	$	26,269