Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.22.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Components of Goodwill and Other Intangible Assets
Goodwill and other intangible assets consisted of the following (in thousands):
March 31, 2022
December 31, 2021
Gross
Amount
Accumulated
Amortization
Net
Amount
Gross
Amount
Accumulated
Amortization
Net
Amount
Other intangible assets subject to amortization
Customer relationships (useful life of 5 to 10 years)
$ 105,930  $ (17,435) $ 88,495  $ 106,013  $ (14,478) $ 91,535 
Tradenames (useful life of 25 years)
172,900  (10,503) 162,397  173,522  (8,818) 164,704 
Total $ 278,830  $ (27,938) 250,892  $ 279,535  $ (23,296) 256,239 
Other intangible assets not subject to amortization
Product formulations 10,700  10,700 
Total other intangible assets, net 261,592  266,939 
Goodwill 241,535  242,661 
Total goodwill and other intangible assets $ 503,127  $ 509,600 
Schedule of Amortization Expense
Amortization expense relating to amortizable intangible assets as of March 31, 2022 for the next five years is expected to be as follows (in thousands):
Remainder of 2022 $ 14,041 
2023 18,721 
2024 18,721 
2025 18,488 
2026 18,267 
2027 17,040