Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.20.2
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS  
Schedule of components of goodwill and other intangible assets

Goodwill and other intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2020

 

December 31, 2019

 

 

(Successor)

 

(Predecessor)

 

 

 

 

    

Accumulated

    

 

 

 

 

 

    

Accumulated

    

 

 

 

    

Gross

    

Amortization

    

Net

    

Gross

    

Amortization

    

Net

Other intangible assets subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships (useful life of 0.5 to 10 years

 

$

52,720

 

$

(88)

 

$

52,632

 

$

105,000

 

$

(38,731)

 

$

66,269

Tradenames (useful life of 25 years

 

 

97,030

 

 

(53)

 

 

96,977

 

 

95,055

 

 

(19,939)

 

 

75,116

Total

 

$

149,750

 

$

(141)

 

$

149,609

 

$

200,055

 

$

(58,670)

 

$

141,385

Other intangible assets not subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product formulations

 

 

 

 

 

 

 

 

7,700

 

 

 

 

 

 

 

 

109,858

Total other intangible assets, net

 

 

 

 

 

 

 

 

157,309

 

 

 

 

 

 

 

 

251,243

Goodwill

 

 

 

 

 

 

 

 

131,109

 

 

 

 

 

 

 

 

130,870

Total goodwill and other intangible assets

 

 

 

 

 

 

 

$

288,418

 

 

 

 

 

 

 

$

382,113

 

Schedule of expected amortization expense relating to amortizable intangible assets

Amortization expense relating to amortizable intangible assets as of June 30, 2020 for the next five years is expected to be as follows (in thousands):

 

 

 

 

 

Remainder of 2020

    

$

6,600

2021

 

 

10,362

2022

 

 

10,362

2023

 

 

10,362

2024

 

 

10,362

2025

 

 

10,128