Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

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GOODWILL AND OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
NOTE 5: GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill and other intangible assets consisted of the following (in thousands):
March 31, 2021
December 31, 2020
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)
 $ 107,891  $ (5,525) $ 102,366  $ 50,877  $ (3,020) $ 47,857 
Tradenames (useful life of 25 years)
 174,416  (3,637) 170,779  128,155  (2,185) 125,970 
Total $ 282,307  $ (9,162) $ 273,145  $ 179,032  $ (5,205) $ 173,827 
Other intangible assets not subject to amortization
Product formulations 10,700  10,700 
Total other intangible assets, net 283,845  184,527 
Goodwill 236,895  153,537 
Total goodwill and other intangible assets $ 520,740  $ 338,064 
At March 31, 2021 and December 31, 2020, goodwill at Branded CPG was $233.6 million and $150.3 million, respectively, and goodwill at Flavors & Ingredients was $3.3 million and $3.2 million, respectively.
The Successor’s amortization expense for intangible assets was $4.2 million for the three months ended March 31, 2021. The Predecessor’s amortization expense for intangible assets was $2.5 million for the three months ended March 31, 2020.
Amortization expense relating to amortizable intangible assets as of March 31, 2021 for the next five years is expected to be as follows (in thousands):
Remainder of 2021 $ 14,180 
2022 18,907 
2023 18,907 
2024 18,907 
2025 18,673 
2026 18,453