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Goodwill and Other Intangibles
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles
Goodwill and Other Intangibles
Goodwill
The carrying amount of goodwill at both September 30, 2019 and December 31, 2018 was $29.8 million. Accumulated impairment losses at both September 30, 2019 and December 31, 2018 were $11.6 million.
Other Intangible Assets
In March 2018, the Company acquired intellectual property (“IP”) from AGA Systems, LLC (“AGA”) for the conversion of certain gasoline engines to alternative fuel engines. The Company paid cash of $1.5 million ($1.0 million in 2018 and $0.5 million in 2017) to acquire the IP assets and provided a minimum guaranteed payment of an additional $1.2 million to be paid over a three-year period from the date of acquisition. If certain milestones related to future sales are met, the Company could pay up to an additional $3.3 million to AGA. The acquisition was accounted for as an asset acquisition because the gross assets acquired were concentrated within a group of similar identifiable assets. The Company recorded developed technology of $2.7 million related to the acquired IP and a liability of $1.2 million related to the guaranteed payment. The sales-based milestone payments are recorded as they are earned and the milestones are probable of being achieved. The developed technology was being depreciated over an estimated useful life of approximately three years. In the fourth quarter of 2018, based on uncertainty of the market for the conversion of certain gasoline engines to alternative fuel engines, the Company concluded that the forecasted future cash flows were not sufficient to recover the carrying value of the assets. As a result, the Company recorded an impairment charge of $2.2 million to write off the remaining book value of the intangible assets.
Components of intangible assets are as follows:
(in thousands)
 
As of September 30, 2019
 
 
Gross Carrying Value
 
Accumulated Amortization
 
Net Book Value
Customer relationships
 
$
34,940

 
$
(21,381
)
 
$
13,559

Developed technology
 
700

 
(588
)
 
112

Trade names and trademarks
 
1,700

 
(1,090
)
 
610

Total
 
$
37,340

 
$
(23,059
)
 
$
14,281

(in thousands)
 
As of December 31, 2018
 
 
Gross Carrying Value
 
Accumulated Amortization
 
Net Book Value
Customer relationships
 
$
34,940

 
$
(18,816
)
 
$
16,124

Developed technology
 
700

 
(537
)
 
163

Trade names and trademarks
 
1,700

 
(977
)
 
723

Total
 
$
37,340

 
$
(20,330
)
 
$
17,010