Goodwill and Other Intangibles
|12 Months Ended|
Dec. 31, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Other Intangibles||Goodwill and Other Intangibles
Changes in the Company's goodwill by segment, during the periods ended December 31, 2021 and 2020, are summarized below:
See Note 5 – Acquisitions for further details on the Company's acquisitions. Adjustments in both periods include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. Adjustments in the Boat segment for 2020 also relate to finalizing purchase accounting related to the Freedom Boat Club acquisition, primarily related to deferred taxes. There was no accumulated impairment loss on Goodwill as of December 31, 2021 or 2020.
The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2021 and 2020, are summarized by intangible asset type below. Other intangible assets primarily consist of software, patents and franchise agreements. Gross and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. See Note 5 – Acquisitions for further details on intangibles acquired during 2021 and 2020.
(A) The weighted average remaining amortization period for Customer relationships, Developed technology and Other intangibles assets was 11.4 years, 14.8 years, and 10.8 years, respectively, as of December 31, 2021.
The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2021 and 2020, are summarized by segment below:
Aggregate amortization expense for intangibles was $36.0 million, $31.9 million and $31.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. Estimated amortization expense for intangible assets is $56.4 million for the year ending December 31, 2022, and $55.8 million for the years ending December 31, 2023, 2024, 2025, and 2026.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef