Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS:

In connection with the Midstream Acquisition that closed on January 3, 2018 (See Note 5 - Acquisitions and Dispositions for more information), CNX recorded $796,359 of goodwill and $128,781 of other intangible assets which are comprised of customer relationships.

All goodwill is attributed to the Midstream reportable segment.

The carrying amount and accumulated amortization of other intangible assets consist of the following:



	September 30, 2019		December 31, 2018
Other Intangible Assets
Gross Amortizable Asset - Customer Relationships	$	109,752	$	109,752
Less: Accumulated Amortization - Customer Relationships	11,467		6,552
Total Other Intangible Assets, net	$	98,285	$	103,200

During the second quarter of 2018, CNX determined that the carrying value of a portion of the customer relationship intangible assets exceeded their fair value as a result of an Asset Exchange Agreement with HG Energy. Accordingly, CNX recognized an impairment on this intangible asset of $18,650. There were no such impairments in the current period.

The customer relationship intangible asset is being amortized on a straight-line basis over approximately 17 years. Amortization expense related to other intangible assets for the three and nine months ended September 30, 2019 was $1,638 and $4,915, respectively. Amortization expense related to other intangible assets was $1,638 and $5,293 for the three and nine months ended September 30, 2018, respectively. The estimated annual amortization expense is expected to approximate $6,552 per year for each of the next five years.