GOODWILL AND INTANGIBLE ASSETS

Goodwill

As of March 31, 2019, the carrying value of goodwill relating to business acquisitions is $226,505. The carrying value of goodwill is allocated to reporting units is as follows:



Reporting Units	Amount
Aegis	162,168
StarTek	64,337
Ending balance, March 31, 2019	$	226,505

We perform a goodwill impairment analysis at least annually (in the fourth quarter of each year) unless indicators of impairment exist in interim periods. The assumptions used in the analysis are based on the Company’s internal budget. The Company projected revenue, operating margins and cash flows for a period of five years, and applied a perpetual long-term growth rate thereafter. These assumptions are reviewed annually as part of management’s budgeting and strategic planning cycles. These estimates may differ from actual results. The values assigned to each of the key assumptions reflect the management’s past experience as their assessment of future trends, and are consistent with external/internal sources of information.

As of March 31, 2019, based on the qualitative assessment, we concluded that goodwill was not impaired.

The following table presents the changes in goodwill during the period:



	Amount
Opening balance, December 31, 2018	$	225,450
Measurement period adjustments	1,055
Ending balance, March 31, 2019	$	226,505

Intangible Assets

The following table presents our intangible assets as of March 31, 2019:



	Gross Intangibles		Accumulated Amortization		Net Intangibles		Weighted Average Amortization Period (years)
Customer relationships	$	65,050	$	6,367	$	58,683	6.5
Brand	49,500		4,971		44,529		7.2
Trademarks	14,410		670		13,740		7.6
Other intangibles	2,100		326		1,774		4.9
	$	131,060	$	12,334	$	118,726

Expected future amortization of intangible assets as of March 31, 2019 is as follows:



Years Ending December 31,	Amount
Remainder of 2019	$	7,816
2020	10,277
2021	10,277
2022	10,277
2023	10,236
Thereafter	69,843