Goodwill and other intangible assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill, by reportable operating segment, for the years ended December 31, 2019 and 2018 were as follows:


	Americas		EMEA		Asia		OEM		Total
	(Dollars in thousands)
Balance as of December 31, 2017
Goodwill	$	1,859,089	$	494,548	$	209,200	$	4,883	$	2,567,720
Accumulated impairment losses	(332,128)		—		—		—		(332,128)
	1,526,961		494,548		209,200		4,883		2,235,592
Goodwill related to acquisitions	29,345		4,730		6,590		—		40,665
Translation and other adjustments	(6,772)		(18,663)		(4,243)		—		(29,678)
Balance as of December 31, 2018	1,549,534		480,615		211,547		4,883		2,246,579
Goodwill related to acquisitions	439		189		1,205		—		1,833
Translation and other adjustments	952		(5,032)		973		—		(3,107)
Balance as of December 31, 2019	$	1,550,925	$	475,772	$	213,725	$	4,883	$	2,245,305

Intangible assets at December 31, 2019 and 2018 consisted of the following:


	Gross Carrying Amount						Accumulated Amortization
	2019		2018		2019		2018
	(Dollars in thousands)
Customer relationships	$	1,021,852	$	1,030,194	$	(367,585)	$	(322,972)
In-process research and development	27,940		28,457		—		—
Intellectual property	1,351,990		1,363,516		(402,340)		(322,539)
Distribution rights	23,369		23,465		(18,859)		(17,860)
Trade names	563,315		565,070		(50,718)		(36,379)
Non-compete agreements	22,618		23,004		(15,297)		(8,904)
	$	3,011,084	$	3,033,706	$	(854,799)	$	(708,654)

As of December 31, 2019, trade names having a carrying value of $233.8 million are considered indefinite-lived. Acquired IPR&D is indefinite-lived until the completion of the related development project, at which point amortization of the carrying value of the technology will commence.

Amortization expense related to intangible assets was $150.0 million, $149.5 million, and $98.8 million for the years ended December 31, 2019, 2018 and 2017, respectively. Estimated annual amortization expense for each of the five succeeding years is as follows:


	(Dollars in thousands)
2020	$	148,800
2021	147,200
2022	142,600
2023	141,600
2024	139,500