| Schedule of components of goodwill and other intangible assets |
Goodwill and other intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Successor) |
|
|
(Predecessor) |
|
|
September 30, 2020 |
|
|
December 31, 2019 |
|
|
Gross |
|
Accumulated
Amortization |
|
Net |
|
|
Gross |
|
Accumulated
Amortization |
|
Net |
Other intangible assets subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships (useful life of 0.5 to 10 years) |
|
$ |
44,640 |
|
|
$ |
(1,866) |
|
|
$ |
42,774 |
|
|
|
$ |
105,000 |
|
|
$ |
(38,731) |
|
|
$ |
66,269 |
|
Tradenames (useful life of 25 years) |
|
92,310 |
|
|
(975) |
|
|
91,335 |
|
|
|
95,055 |
|
|
(19,939) |
|
|
75,116 |
|
| Total |
|
$ |
136,950 |
|
|
$ |
(2,841) |
|
|
$ |
134,109 |
|
|
|
$ |
200,055 |
|
|
$ |
(58,670) |
|
|
$ |
141,385 |
|
Other intangible assets not subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Product formulations |
|
|
|
|
|
10,700 |
|
|
|
|
|
|
|
109,858 |
|
| Total other intangible assets, net |
|
|
|
|
|
144,809 |
|
|
|
|
|
|
|
251,243 |
|
| Goodwill |
|
|
|
|
|
124,874 |
|
|
|
|
|
|
|
130,870 |
|
| Total goodwill and other intangible assets |
|
|
|
|
|
$ |
269,683 |
|
|
|
|
|
|
|
$ |
382,113 |
|
|
| Schedule of amortization expense |
Amortization expense relating to amortizable intangible assets as of September 30, 2020 for the next five years is expected to be as follows (in thousands):
|
|
|
|
|
|
| Remainder of 2020 |
$ |
2,667 |
|
| 2021 |
9,004 |
|
| 2022 |
9,004 |
|
| 2023 |
9,004 |
|
| 2024 |
9,004 |
|
| 2025 |
8,963 |
|
|