| Schedule of Goodwill |
The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2021 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fire Safety |
|
|
Oil Additives |
|
|
Total |
|
Balance as of December 31, 2020 |
|
$ |
362,767 |
|
|
$ |
119,274 |
|
|
$ |
482,041 |
|
Business acquired |
|
|
5,385 |
|
|
— |
|
|
|
5,385 |
|
Foreign currency translation |
|
|
(472 |
) |
|
|
(579 |
) |
|
|
(1,051 |
) |
Balance as of September 30, 2021 |
|
$ |
367,680 |
|
|
$ |
118,695 |
|
|
$ |
486,375 |
|
|
| Schedule of Intangible Assets Amortization Expense |
Intangible assets and related accumulated amortization as of September 30, 2021 and December 31, 2020 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
|
Estimated Useful Life
(in years) |
|
|
Gross Value |
|
|
Foreign Currency Translation |
|
|
Accumulated Amortization(1) |
|
|
Net Book Value |
|
Definite lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Existing technology |
|
|
15 |
|
|
$ |
158,730 |
|
|
$ |
950 |
|
|
$ |
(33,793 |
) |
|
$ |
125,887 |
|
Customer lists |
|
|
10 |
|
|
|
419,900 |
|
|
|
(2,078 |
) |
|
|
(146,432 |
) |
|
|
271,390 |
|
Patents |
|
|
7 |
|
|
|
1,759 |
|
|
|
21 |
|
|
|
(699 |
) |
|
|
1,081 |
|
Tradenames |
|
|
10 |
|
|
|
900 |
|
|
|
(13 |
) |
|
|
(244 |
) |
|
|
643 |
|
Total definite-lived intangible assets |
|
|
|
|
|
581,289 |
|
|
|
(1,120 |
) |
|
|
(181,168 |
) |
|
|
399,001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indefinite-lived intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradenames |
|
Indefinite |
|
|
|
32,700 |
|
|
|
(111 |
) |
|
— |
|
|
|
32,589 |
|
Total intangible assets |
|
|
|
|
$ |
32,700 |
|
|
$ |
(111 |
) |
|
$ |
— |
|
|
$ |
32,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020 |
|
|
|
Estimated Useful Life
(in years) |
|
|
Gross Value |
|
|
Foreign Currency Translation |
|
|
Accumulated Amortization(1) |
|
|
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 |
|
|
|
2 |
|
|
|
(188 |
) |
|
|
714 |
|
Total definite-lived intangible assets |
|
|
|
|
|
581,289 |
|
|
|
1,981 |
|
|
|
(142,320 |
) |
|
|
440,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indefinite-lived intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradenames |
|
Indefinite |
|
|
|
32,700 |
|
|
|
50 |
|
|
|
— |
|
|
|
32,750 |
|
Total intangible assets |
|
|
|
|
$ |
32,700 |
|
|
$ |
50 |
|
|
$ |
— |
|
|
$ |
32,750 |
|
(1) Amounts include the effect of foreign exchange.
|
| Schedule of Intangible Assets, Future Amortization Expense |
Estimated annual amortization expense of intangible assets for the five years subsequent to September 30, 2021 and thereafter is as follows (in thousands):
|
|
|
|
|
|
|
Amount |
|
Years Ending December 31: |
|
|
|
Remainder of 2021 |
|
$ |
13,226 |
|
2022 |
|
|
52,903 |
|
2023 |
|
|
52,903 |
|
2024 |
|
|
52,903 |
|
2025 |
|
|
52,903 |
|
Thereafter |
|
|
174,163 |
|
Total |
|
$ |
399,001 |
|
|