GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

During the quarter ended March 31, 2020, we determined, based on qualitative assessment, that the Coronavirus Disease 2019 ("COVID-19") pandemic created a triggering event that required further assessment. As such, we performed a quantitative assessment, using data as of March 31, 2020. Based on this assessment, the estimated fair value of the reporting unit exceeded the carrying value of the Company, which indicated an impairment did not exist as of the interim balance sheet date. For purposes of the goodwill impairment assessment, the Company as a whole is considered to be the reporting unit. The fair value of the reporting unit is estimated under a market based approach using the fair value of the Company's common stock. The estimated fair value requires significant judgments, including timing and appropriateness of the price of common stock used (e.g., point-in-time application, simple moving average, exponential moving average, etc.), as well as application of an estimated control premium. The estimated control premium is based on a number of factors including current and past market information published by third-party resources and detailed analysis that considers appropriate industry, market and other pertinent factors. While a formal impairment assessment is performed annually, the Company monitors its business environment for potential triggering events on a quarterly basis. There is potential for further impairment charges being recognized in future periods based on these ongoing assessments.

Intangible Assets

Amortizable intangible assets at March 31, 2020 related primarily to customer relationships that resulted from our acquisition of Amcom Software, Inc. in 2011. Such intangibles are being amortized over a period of ten years. For the years ending December 31, 2020 and 2021 there is an estimated remaining amortization of $1.9 million and $0.4 million, respectively.

The net consolidated balance of intangible assets consisted of the following at March 31, 2020:



(Dollars in thousands)	Useful Life (In Years)	Gross Carrying Amount		Accumulated Amortization			Net Balance
Customer relationships	10	$	25,002	$	(22,710	)	$	2,292