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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 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 and fourth quarters of 2020 into the following six reportable segments: Kaplan International, Higher Education, Supplemental Education, Television Broadcasting, Manufacturing and Healthcare (see Note 19).
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.
In the fourth quarter of 2019, Television Broadcasting recorded an intangible asset impairment charge of $7.8 million related to FCC licenses at two of its stations, due to a decline in local market conditions. The fair value of the intangible asset was estimated using an income approach.
In the third quarter of 2018, Healthcare recorded an intangible asset impairment charge of $7.9 million following the decision to discontinue the use of the Celtic trade name. The fair value of the intangible asset was estimated using an income approach.
Amortization of intangible assets for the years ended December 31, 2020, 2019 and 2018, was $56.8 million, $53.2 million and $47.4 million, respectively. Amortization of intangible assets is estimated to be approximately $52 million in 2021, $46 million in 2022, $38 million in 2023, $28 million in 2024, $21 million in 2025 and $20 million thereafter.
The changes in the carrying amount of goodwill, by segment, were as follows:
(in thousands)EducationTelevision
Broadcasting		ManufacturingHealthcareOther
Businesses		Total
As of December 31, 2018    
Goodwill$1,128,699 $190,815 $231,479 $69,626 $23,545 $1,644,164 
Accumulated impairment losses
(331,151)— (7,616)— (7,685)(346,452)
 797,548 190,815 223,863 69,626 15,860 1,297,712 
Acquisitions6,207 — 3,514 28,795 45,999 84,515 
Dispositions(579)— — — — (579)
Foreign currency exchange rate changes
6,631 — — — — 6,631 
As of December 31, 2019    
Goodwill1,140,958 190,815 234,993 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 adjustment154 — — — — 154 
Acquisitions13,022 — — — 60,928 73,950 
Impairment— — — — (6,878)(6,878)
Foreign currency exchange rate changes
29,245 — — — — 29,245 
As of December 31, 2020
Goodwill1,183,379 190,815 234,993 98,421 130,472 1,838,080 
Accumulated impairment losses
(331,151)— (7,616)— (14,563)(353,330)
 $852,228 $190,815 $227,377 $98,421 $115,909 $1,484,750 
The changes in carrying amount of goodwill at the Company’s education division were as follows:
(in thousands)Kaplan
International		Higher
Education		Supplemental EducationTotal
As of December 31, 2018   
Goodwill$583,424 $174,564 $370,711 $1,128,699 
Accumulated impairment losses
— (111,324)(219,827)(331,151)
 583,424 63,240 150,884 797,548 
Acquisitions6,207 — — 6,207 
Dispositions(579)— — (579)
Foreign currency exchange rate changes
6,552 — 79 6,631 
As of December 31, 2019
Goodwill595,604 174,564 370,790 1,140,958 
Accumulated impairment losses
— (111,324)(219,827)(331,151)
 595,604 63,240 150,963 809,807 
Measurement period adjustment154 — — 154 
Acquisitions9,788 — 3,234 13,022 
Foreign currency exchange rate changes
29,203 — 42 29,245 
As of December 31, 2020  
Goodwill634,749 174,564 374,066 1,183,379 
Accumulated impairment losses
— (111,324)(219,827)(331,151)
 $634,749 $63,240 $154,239 $852,228 
Other intangible assets consist of the following:
  As of December 31, 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
$294,077 $178,075 $116,002 $291,626 $144,625 $147,001 
Trade names and trademarks
2–10 years
109,809 54,766 55,043 87,190 42,770 44,420 
Network affiliation agreements
10 years
17,400 6,888 10,512 17,400 5,148 12,252 
Databases and technology
3–6 years
34,864 19,924 14,940 30,623 12,850 17,773 
Noncompete agreements
2–5 years
1,000 937 63 1,313 929 384 
Other
1–8 years
24,800 16,714 8,086 24,800 13,149 11,651 
  $481,950 $277,304 $204,646 $452,952 $219,471 $233,481 
Indefinite-Lived Intangible Assets
      
Trade names and trademarks $87,429   $100,491 
Franchise agreements 21,858   28,556 
FCC licenses11,000 11,000 
Licensure and accreditation 150   150   
  $120,437   $140,197