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GOODWILL AND INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET

Acquired intangible assets are classified into three categories: (1) goodwill, (2) intangible assets with finite lives subject to amortization, and (3) intangible assets with indefinite lives. Goodwill and intangible assets with indefinite lives are not amortized; rather, they are reviewed for impairment at least annually.

Goodwill

Goodwill is recognized when the consideration paid for a business exceeds the fair value of the tangible and identifiable intangible assets acquired. Goodwill is allocated to reporting units for purposes of testing goodwill for impairment. There were no charges for goodwill impairment in 2019 or 2018. In 2017, we recorded $5.8 million of goodwill impairment charges associated with our USVI operations. Accumulated goodwill impairment losses amount to $4.4 million in the ready-mixed concrete segment and $1.4 million in the aggregate products segment for the three years presented.

The accumulated impairment was as follows:
 
 
December 31,
( in millions)
 
2019
 
2018
 
2017
Goodwill, gross
 
$
245.3

 
$
245.1

 
$
210.5

Accumulated impairment
 
(5.8
)
 
(5.8
)
 
(5.8
)
Goodwill, net
 
$
239.5

 
$
239.3

 
$
204.7

The changes in the goodwill by reportable segment were as follows:
($ in millions)
 
Ready-Mixed Concrete Segment
 
Aggregate Products Segment
 
Other Non-Reportable Segments
 
Total
Goodwill, net at December 31, 2017(1)
 
$
136.7

 
$
56.1

 
$
11.9

 
$
204.7

2018 acquisitions(1)
 
13.4

 
—

 
—

 
13.4

Measurement period adjustments for prior year business combinations(2)
 
(0.3
)
 
30.1

 
(8.6
)
 
21.2

Goodwill, net at December 31, 2018
 
149.8

 
86.2

 
3.3

 
239.3

Measurement period adjustments for prior year business combinations
 
0.2

(3) 
—

 
—

 
0.2

Goodwill, net at December 31, 2019
 
$
150.0

 
$
86.2

 
$
3.3

 
$
239.5

 

(1)
$1.3 million and $0.8 million of goodwill was assigned to the ready-mixed concrete reporting unit as of the date certain operations that are accounted for in other non-reportable segments were acquired in 2017 and 2018, respectively, because it was determined that the goodwill would benefit the ready-mixed concrete operating segment.
(2)
Adjustments for certain 2017 acquisitions recorded during 2018 included $21.0 million of additional long-term obligations, of which $18.6 million related to deferred taxes attributable to fair value adjustments of Polaris's fixed assets as of the acquisition date; $2.8 million of assumed liabilities; $0.4 million of lower working capital; $2.7 million of additional property, plant, and equipment; $0.3 million of additional definite-lived intangible assets; and other various changes. The measurement period adjustments for certain 2017 acquisitions also included an $8.6 million reclassification of goodwill between the aggregate products segment and other non-reportable segments.
(3)
The fair value of property, plant and equipment acquired in 2018 was determined to be $0.2 million lower than the original estimate.

Intangible Assets

Our purchased intangible assets were as follows:
 
 
December 31, 2019
($ in millions)
 
Gross
 
Accumulated Amortization
 
Net
 
Weighted Average Remaining Life (in Years)
Definite-lived intangible assets
 
 
 
 
 
 
 
 
    Customer relationships
 
$
108.5

 
$
(59.7
)
 
$
48.8

 
3.9
    Trade names
 
44.5

 
(13.6
)
 
30.9

 
19.1
    Non-competes
 
18.3

 
(15.3
)
 
3.0

 
2.4
    Leasehold interests
 
12.5

 
(6.7
)
 
5.8

 
5.4
    Favorable contract
 
4.0

 
(3.9
)
 
0.1

 
0.9
    Environmental credits
 
2.8

 
(0.2
)
 
2.6

 
16.0
Total definite-lived intangible assets
 
190.6

 
(99.4
)
 
91.2

 
9.4
Indefinite-lived intangible assets
 
 
 
 
 
 
 
 
Land rights(1)
 
1.2

 
—

 
1.2

 
 
Total purchased intangible assets
 
$
191.8

 
$
(99.4
)
 
$
92.4

 
 


(1) Land rights will be reclassified to property, plant and equipment upon the division of certain shared properties and settlement of the associated deferred payment.
 
 
 
December 31, 2018
($ in millions)
 
Gross
 
Accumulated Amortization
 
Net
 
Weighted Average Remaining Life (in Years)
Definite-lived intangible assets
 
 
 
 
 
 
 
 
    Customer relationships
 
$
108.5

 
$
(43.1
)
 
$
65.4

 
4.7
    Trade names
 
44.5

 
(11.1
)
 
33.4

 
19.6
    Non-competes
 
18.3

 
(12.1
)
 
6.2

 
2.6
    Leasehold interests
 
12.5

 
(5.1
)
 
7.4

 
5.9
    Favorable contract
 
4.0

 
(3.8
)
 
0.2

 
1.9
    Environmental credits
 
2.8

 
—

 
2.8

 
17.0
Total definite-lived intangible assets
 
190.6

 
(75.2
)
 
115.4

 
9.8
Indefinite-lived intangible assets
 
 
 
 
 
 
 
 
Land rights(1)
 
1.2

 
—

 
1.2

 
 
Total purchased intangible assets
 
$
191.8

 
$
(75.2
)
 
$
116.6

 
 


(1) Land rights will be reclassified to property, plant and equipment upon the division of certain shared properties and settlement of the associated deferred payment.

As of December 31, 2019, the estimated remaining amortization of our definite-lived intangible assets was as follows (in millions):
2020
 
$
20.9

2021
 
18.6

2022
 
12.7

2023
 
6.3

2024
 
6.0

Thereafter
 
26.7

   Total
 
$
91.2



Also included in other long-term obligations and deferred credits in our consolidated balance sheets were unfavorable lease intangibles with a gross carrying amount of $1.5 million as of December 31, 2019 and a net carrying amount of $0.5 million and $0.8 million as of December 31, 2019 and 2018, respectively. These unfavorable lease intangibles had a weighted average remaining life of 4.1 years as of December 31, 2019 and 4.6 years as of December 31, 2018.

We recorded amortization expense for our definite-lived intangible assets and unfavorable lease intangibles of $23.9 million in both 2019 and 2018, and $20.7 million in 2017 in our consolidated statements of operations.