XML 79 R12.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS:
Goodwill
Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Changes in goodwill were as follows (in thousands):
As of December 31,
 20192018
Beginning balance$19,804  $27,144  
      Omaha divestiture—  (7,340) 
Ending balance$19,804  $19,804  

Other Intangible Assets
Our intangible assets represent the acquisition date fair value of acquired client relationships, trade names and internally-developed software, and are reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition.
The following is a summary of intangible assets at December 31, 2019 and 2018 (in thousands, except years):
 
Weighted Average
Amortization
Period (years)
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
2019    
Client relationships14.8$21,431  $(7,416) $14,015  
Internally developed software5.81,439  (233) 1,206  
Trade names4.9708  (673) 35  
 $23,578  $(8,322) $15,256  
2018    
Client relationships14.8$21,431  $(5,960) $15,471  
Internally developed software7.0418  (99) 319  
Trade names4.9708  (537) 171  
 $22,557  $(6,596) $15,961  
Amortization expense, which is included in “General and administrative” expense on our Consolidated Statements of Comprehensive Income, was $1.7 million, $1.7 million and $1.9 million for the years ended December 31, 2019, 2018 and 2017, respectively.
Estimated amortization expense for intangible assets over the next five years is as follows (in thousands):
For the year ending December 31,
Estimated
Amortization Expense
2020$1,658  
2021$1,548  
2022$1,548  
2023$1,529  
2024$1,454