Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.22.4
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill
The changes in the carrying amount of goodwill by reportable segment are as follows (in thousands):
Fire Safety Specialty Products Total
Predecessor
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 
Purchase price adjustment under Business Combination Agreement 2,356  —  2,356 
Foreign currency translation (9,844) (2,377) (12,221)
Balance, December 31, 2022
$ 860,319  $ 171,141  $ 1,031,460 
Schedule of Definite Lived Intangible Assets
Intangible assets and related accumulated amortization as of December 31, 2022 and 2021 are as follows (in thousands):
December 31, 2022
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  $ (3,029) $ (14,153) $ 232,818 
Customer lists 20 761,000  (7,451) (43,220) 710,329 
Tradenames 20 101,000  (970) (5,737) 94,293 
Balance, December 31, 2022
$ 1,112,000  $ (11,450) $ (63,110) $ 1,037,440 
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 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets and related accumulated amortization as of December 31, 2022 and 2021 are as follows (in thousands):
December 31, 2022
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  $ (3,029) $ (14,153) $ 232,818 
Customer lists 20 761,000  (7,451) (43,220) 710,329 
Tradenames 20 101,000  (970) (5,737) 94,293 
Balance, December 31, 2022
$ 1,112,000  $ (11,450) $ (63,110) $ 1,037,440 
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 
Schedule of Intangible Asset Future Amortization Expense
Estimated annual amortization expense of intangible assets for the five years subsequent to December 31, 2022 and thereafter is as follows (in thousands):
Years Ending December 31:
Amount
2023 $ 55,600 
2024 55,600 
2025 55,600 
2026 55,600 
2027 55,600 
Thereafter 759,440 
Total $ 1,037,440