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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
The Company changed the presentation of its segments in the third quarter of 2020 into the following seven reportable segments: Kaplan International, Higher Education, Test Preparation, Professional (U.S.), Television Broadcasting, Manufacturing and Healthcare (see Note 16).
In the first quarter of 2020, as a result of the uncertainty and challenging operating environment created by the COVID-19 pandemic, the Company performed an interim review of the goodwill, indefinite-lived intangibles and other long-lived assets of the CRG and automotive dealership reporting units and asset groups. As a result of the impairment reviews, the Company recorded a $9.7 million goodwill and indefinite-lived intangible asset impairment charge at CRG and a $6.7 million indefinite-lived intangible asset impairment charge at the auto dealerships. The Company estimated the fair value of the reporting units and indefinite-lived intangible assets by utilizing a discounted cash flow model. The carrying value of the CRG reporting unit and the indefinite-lived intangible assets exceeded the estimated fair value, resulting in a goodwill and indefinite-lived intangible asset impairment charge for the amount by which the carrying value exceeded the estimated fair value. CRG and the automotive dealerships are included in other businesses. Additional COVID-19 disruptions could result in future adverse changes in projections for future operating results or other key assumptions, such as projected revenue, profit margin, capital expenditures or cash flows associated with fair value estimates and could lead to additional future impairments, which could be material.
Amortization of intangible assets for the three months ended September 30, 2020 and 2019, was $14.2 million and $13.6 million, respectively. Amortization of intangible assets for the nine months ended September 30, 2020 and 2019, was $42.6 million and $39.5 million, respectively. Amortization of intangible assets is estimated to be approximately $14 million for the remainder of 2020, $52 million in 2021, $46 million in 2022, $37 million in 2023, $28 million in 2024 and $41 million thereafter. The changes in the carrying amount of goodwill, by segment, were as follows:
(in thousands)EducationTelevision
Broadcasting		ManufacturingHealthcareOther
Businesses		Total
Balance as of December 31, 2019        
Goodwill$1,140,958 $190,815 $234,993 $98,421 $69,544 $1,734,731 
Accumulated impairment losses
(331,151)— (7,616)— (7,685)(346,452)
809,807 190,815 227,377 98,421 61,859 1,388,279 
Measurement period adjustments
154 — — — — 154 
Acquisitions13,022 — — — 63,587 76,609 
Impairment— — — — (6,878)(6,878)
Foreign currency exchange rate changes
30 — — — — 30 
Balance as of September 30, 2020        
Goodwill1,154,164 190,815 234,993 98,421 133,131 1,811,524 
Accumulated impairment losses
(331,151)— (7,616)— (14,563)(353,330)
$823,013 $190,815 $227,377 $98,421 $118,568 $1,458,194 
The changes in carrying amount of goodwill at the Company’s education division were as follows:
(in thousands)Kaplan
International		Higher
Education		Test
Preparation		Professional (U.S.)Total
Balance as of December 31, 2019        
Goodwill$595,604 $174,564 $166,920 $203,870 $1,140,958 
Accumulated impairment losses— (111,324)(102,259)(117,568)(331,151)
595,604 63,240 64,661 86,302 809,807 
Measurement period adjustments154 — — — 154 
Acquisitions9,788 — — 3,234 13,022 
Foreign currency exchange rate changes74 — — (44)30 
Balance as of September 30, 2020        
Goodwill605,620 174,564 166,920 207,060 1,154,164 
Accumulated impairment losses— (111,324)(102,259)(117,568)(331,151)
$605,620 $63,240 $64,661 $89,492 $823,013 
Other intangible assets consist of the following:
As of September 30, 2020As of December 31, 2019
(in thousands)Useful Life
Range		Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Amortized Intangible Assets              
Student and customer relationships
2–10 years
$293,025 $169,415 $123,610 $291,626 $144,625 $147,001 
Trade names and trademarks
2–10 years
109,241 51,262 57,979 87,190 42,770 44,420 
Network affiliation agreements
10 years
17,400 6,454 10,946 17,400 5,148 12,252 
Databases and technology
3–6 years
34,438 17,877 16,561 30,623 12,850 17,773 
Noncompete agreements
2–5 years
1,000 911 89 1,313 929 384 
Other
1–8 years
24,800 15,860 8,940 24,800 13,149 11,651 
    $479,904 $261,779 $218,125 $452,952 $219,471 $233,481 
Indefinite-Lived Intangible Assets
              
Trade names and trademarks  $84,833     $100,491     
Franchise agreements21,858 28,556 
FCC licenses11,000 11,000 
Licensure and accreditation  150     150     
  $117,841 $140,197