| Changes in the carrying amount of goodwill by segment |
Changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020, by segment, were as follows, in thousands:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fx |
|
|
|
|
Accumulated |
|
|
|
|
|
Gross Goodwill |
|
|
|
Translation |
|
Gross Goodwill |
|
Impairment |
|
Net Goodwill |
|
|
December 31, 2020 |
|
Additions |
|
Adjustment |
|
December 31, 2021 |
|
Losses |
|
December 31, 2021 |
Goodwill, by segment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Installation |
|
$ |
1,726,356 |
|
$ |
92,516 |
|
|
— |
|
$ |
1,818,872 |
|
$ |
(762,021) |
|
$ |
1,056,851 |
Specialty Distribution |
|
|
446,350 |
|
|
451,331 |
|
|
(4,769) |
|
|
892,912 |
|
|
— |
|
|
892,912 |
Total goodwill |
|
$ |
2,172,706 |
|
$ |
543,847 |
|
$ |
(4,769) |
|
$ |
2,711,784 |
|
$ |
(762,021) |
|
$ |
1,949,763 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
Gross Goodwill |
|
|
|
Gross Goodwill |
|
Impairment |
|
Net Goodwill |
|
|
December 31, 2019 |
|
Additions |
|
December 31, 2020 |
|
Losses |
|
December 31, 2020 |
Goodwill, by segment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Installation |
|
$ |
1,683,589 |
|
$ |
42,767 |
|
$ |
1,726,356 |
|
$ |
(762,021) |
|
$ |
964,335 |
Specialty Distribution |
|
|
446,350 |
|
|
— |
|
|
446,350 |
|
|
— |
|
|
446,350 |
Total goodwill |
|
$ |
2,129,939 |
|
$ |
42,767 |
|
$ |
2,172,706 |
|
$ |
(762,021) |
|
$ |
1,410,685 |
|
| Schedule of other intangible assets |
The following table sets forth our other intangible assets, in thousands:
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
2021 |
|
2020 |
|
2019 |
Gross definite-lived intangible assets |
|
$ |
783,843 |
|
$ |
252,751 |
|
$ |
221,382 |
Accumulated amortization |
|
|
(99,634) |
|
|
(62,146) |
|
|
(40,260) |
Net definite-lived intangible assets |
|
|
684,209 |
|
|
190,605 |
|
|
181,122 |
Indefinite-lived intangible assets not subject to amortization |
|
|
— |
|
|
— |
|
|
— |
Other intangible asset, net |
|
$ |
684,209 |
|
$ |
190,605 |
|
$ |
181,122 |
|
|
|
|
|
|
|
|
|
|
Amortization expense |
|
$ |
36,501 |
|
$ |
21,886 |
|
$ |
20,765 |
|
| Future amortization expense related to definite-lived intangible assets |
The following table sets forth the amortization expense related to the definite-lived intangible assets during each of the next five years, in thousands:
|
|
|
|
|
|
Amortization
Expense |
2022 |
|
$ |
67,216 |
2023 |
|
|
66,532 |
2024 |
|
|
66,443 |
2025 |
|
|
66,443 |
2026 |
|
|
66,443 |
|