Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

As a result of the acquisition of Genoptix in December of 2018, we recorded $51.6 million in goodwill, including amounts for measurement period and other adjustments. Refer to Note F, Acquisitions, for more information regarding the Genoptix acquisition.

The following table summarizes the changes in goodwill for the years ended December 31, 2019 and 2018 (in thousands):

	For the Years Ended December 31,
	2019		2018
Balance, beginning of year	$	197,892	$	147,019
Goodwill acquired	—		50,873
Purchase price adjustment	709		—
Balance, end of year	$	198,601	$	197,892

The following table summarizes the allocation of goodwill by segment for the years ended December 31, 2019 and 2018 (in thousands):

	Clinical Services 2019		Pharma Services 2019		Total 2019		Clinical Services 2018		Pharma Services 2018		Total 2018
Goodwill	$	179,534	$	19,067	$	198,601	$	178,825	$	19,067	$	197,892

Intangible assets consisted of the following (in thousands): 

		December 31, 2019
	Amortization Period	Cost		Accumulated Amortization		Net
Trade Names	12-24 months	$	3,679	$	3,679	$	—
Non-Compete Agreement	24 months	27		27		—
Customer Relationships	180 months	139,271		26,078		113,193
Trademark - Indefinite lived	—	13,447		—		13,447
Total		$	156,424	$	29,784	$	126,640
		December 31, 2018
	Amortization Period	Cost		Accumulated Amortization		Net
Trade Name	12-24 months	$	3,675	$	3,042	$	633
Non-Compete Agreement	24 months	27		18		9
Customer Relationships	180 months	141,626		16,798		124,828
Trademark - Indefinite lived	—	14,559		—		14,559
Total		$	159,887	$	19,858	$	140,029

The Company recorded amortization expense of intangible assets in the Consolidated Statements of Operations as follows (in thousands):

	For the Years Ended December 31,
	2019		2018		2017
Amortization of intangible assets	$	9,925	$	5,928	$	6,995

The Company records amortization expense as a general and administrative expense.

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of December 31, 2019 is as follows (in thousands):

For the Years Ending December 31,	As of December 31,
2020	$	9,285
2021	9,285
2022	9,285
2023	9,285
2024	9,285
Thereafter	66,768
Total	$	113,193