Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.22.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Goodwill
The changes in the carrying amount of goodwill by reportable segment are as follows (in thousands):
Fire Safety Oil Additives Total
Predecessor
Balance, December 31, 2019
$ 354,827  $ 118,367  $ 473,194 
Business acquired 6,906  —  6,906 
Foreign currency translation 1,034  907  1,941 
Balance, December 31, 2020
362,767  119,274  482,041 
Business acquired 5,385  —  5,385 
Foreign currency translation 286  (605) (319)
Balance, November 8, 2021 $ 368,438  $ 118,669  $ 487,107 
Successor
Balance, November 9, 2021 $ 871,425  $ 174,470  $ 1,045,895 
Foreign currency translation (3,618) (952) (4,570)
Balance, December 31, 2021
$ 867,807  $ 173,518  $ 1,041,325 
Summary of Definite Lived Intangible Assets
Intangible assets and related accumulated amortization as of December 31, 2021 and 2020 are as follows (in thousands):
Successor - December 31, 2021
Estimated
Useful Life
(in years)
Gross Value Foreign
Currency
Translation
Accumulated
Amortization
Net Book
Value
Definite Lived Intangible Assets:
Existing technology and patents 20 $ 250,000  $ (836) $ (1,796) $ 247,368 
Customer lists 20 761,000  (2,059) (5,482) 753,459 
Tradenames 20 101,000  (268) (727) 100,005 
Balance, December 31, 2021
$ 1,112,000  $ (3,163) $ (8,005) $ 1,100,832 
Predecessor - December 31, 2020
Estimated
Useful Life
(in years)
Gross Value Foreign
Currency
Translation
Accumulated
Amortization
Net Book
Value
Definite Lived Intangible Assets:
Existing technology 15 $ 158,730  $ 1,747  $ (25,903) $ 134,574 
Customer lists 10 419,900  96  (115,688) 304,308 
Patents 7 1,759  136  (541) 1,354 
Tradenames 10 900  (188) 714 
Indefinite Lived Intangible Assets:
Tradenames Indefinite 32,700  50  —  32,750 
Balance, December 31, 2020
$ 613,989  $ 2,031  $ (142,320) $ 473,700 
Summary of Indefinite-Lived Intangible Assets
Intangible assets and related accumulated amortization as of December 31, 2021 and 2020 are as follows (in thousands):
Successor - December 31, 2021
Estimated
Useful Life
(in years)
Gross Value Foreign
Currency
Translation
Accumulated
Amortization
Net Book
Value
Definite Lived Intangible Assets:
Existing technology and patents 20 $ 250,000  $ (836) $ (1,796) $ 247,368 
Customer lists 20 761,000  (2,059) (5,482) 753,459 
Tradenames 20 101,000  (268) (727) 100,005 
Balance, December 31, 2021
$ 1,112,000  $ (3,163) $ (8,005) $ 1,100,832 
Predecessor - December 31, 2020
Estimated
Useful Life
(in years)
Gross Value Foreign
Currency
Translation
Accumulated
Amortization
Net Book
Value
Definite Lived Intangible Assets:
Existing technology 15 $ 158,730  $ 1,747  $ (25,903) $ 134,574 
Customer lists 10 419,900  96  (115,688) 304,308 
Patents 7 1,759  136  (541) 1,354 
Tradenames 10 900  (188) 714 
Indefinite Lived Intangible Assets:
Tradenames Indefinite 32,700  50  —  32,750 
Balance, December 31, 2020
$ 613,989  $ 2,031  $ (142,320) $ 473,700 
Summary of Intangible Asset Future Amortization Expense
Estimated annual amortization expense of intangible assets for the five years subsequent to December 31, 2021 and thereafter is as follows (in thousands):
Years Ending December 31:
Amount
2022 $ 55,600 
2023 55,600 
2024 55,600 
2025 55,600 
2026 55,600 
Thereafter 822,832 
Total $ 1,100,832