Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.23.2
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 30, 2023
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
Balance, December 31, 2022
 $ 860,319  $ 171,141  $ 1,031,460 
Foreign currency translation 1,689  493  2,182 
Balance, June 30, 2023
 $ 862,008  $ 171,634  $ 1,033,642 
Schedule of Definite Lived Intangible Assets
Intangible assets and related accumulated amortization as of June 30, 2023 and December 31, 2022 are as follows (in thousands):
June 30, 2023
Estimated
Useful Life
(in years)		 Gross Value Foreign
Currency
Translation		 Accumulated
Amortization		 Net Book
Value
Definite Lived Intangible Assets:
Customer lists 20 $ 761,000  $ (5,964) $ (62,071) $ 692,965 
Technology and patents 20 250,000  (2,498) (20,333) 227,169 
Tradenames 20 101,000  (775) (8,239) 91,986 
Balance, June 30, 2023
 $ 1,112,000  $ (9,237) $ (90,643) $ 1,012,120 
December 31, 2022
Estimated
Useful Life
(in years)		 Gross Value Foreign
Currency
Translation		 Accumulated
Amortization		 Net Book
Value
Definite Lived Intangible Assets:
Customer lists 20 $ 761,000  $ (7,451) $ (43,220) $ 710,329 
Technology and patents 20 250,000  (3,029) (14,153) 232,818 
Tradenames 20 101,000  (970) (5,737) 94,293 
Balance, December 31, 2022
 $ 1,112,000  $ (11,450) $ (63,110) $ 1,037,440 
Schedule of Intangible Asset Future Amortization Expense
Estimated annual amortization expense of intangible assets for the next five years ending December 31 and thereafter is as follows (in thousands):
2023 remaining $ 27,800 
2024 55,600 
2025 55,600 
2026 55,600 
2027 55,600 
Thereafter 761,920 
Total $ 1,012,120