GOODWILL AND OTHER INTANGIBLE ASSETS
|9 Months Ended|
Sep. 30, 2023
|Goodwill and Intangible Assets Disclosure [Abstract]|
|GOODWILL AND OTHER INTANGIBLE ASSETS||
NOTE 4: GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill and other intangible assets consisted of the following (in thousands):
At September 30, 2023 and December 31, 2022, goodwill at Branded CPG was $188.9 million and $189.5 million, respectively. At September 30, 2023 and December 31, 2022, goodwill at Flavors & Ingredients was $3.6 million and $3.7 million, respectively. The change in the goodwill balances is due to fluctuations in foreign exchange rates.
The amortization expense for intangible assets was $4.6 million and $14.0 million for the three and nine months ended September 30, 2023, respectively, and $4.6 million and $14.0 million for the three and nine months ended September 30, 2022, respectively.
Amortization expense relating to amortizable intangible assets as of September 30, 2023 for the next five years is expected to be as follows (in thousands):
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef