Goodwill And Other Intangible Assets |
Goodwill and Other Intangible AssetsThe goodwill balance was $171.1 million as of both March 31, 2022 and December 31, 2021. The following table summarizes intangible assets with determinable useful lives by major category, which are included in "Other Assets" on our Condensed Consolidated Balance Sheets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Intangible Assets | | As of March 31, 2022 | | As of December 31, 2021 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | (Dollars in thousands) | Trade names | $ | 22,500 | | | $ | (14,425) | | | $ | 8,075 | | | $ | 22,500 | | | $ | (13,935) | | | $ | 8,565 | | Technology and know-how | 55,300 | | | (39,505) | | | 15,795 | | | 55,300 | | | (38,486) | | | 16,814 | | Customer-related intangibles | 64,500 | | | (29,277) | | | 35,223 | | | 64,500 | | | (28,195) | | | 36,305 | | Total finite-lived intangible assets | $ | 142,300 | | | $ | (83,207) | | | $ | 59,093 | | | $ | 142,300 | | | $ | (80,616) | | | $ | 61,684 | |
Amortization expense of intangible assets was $2.6 million and $2.7 million in the three months ended March 31, 2022 and 2021, respectively. Estimated amortization expense will be approximately $7.5 million for the remainder of 2022, $9.2 million in 2023, $8.0 million in 2024, $7.3 million in 2025 and $6.7 million in 2026. Amortization expense is included in Cost of sales on the Condensed Consolidated Statement of Operations.
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