Goodwill and Intangible Assets Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The carrying amount of goodwill, both at March 31, 2017 and December 31, 2016, was $14,254,000. There was no goodwill acquired or disposed of during the three months ended March 31, 2017.

Using a qualitative assessment, we completed our most recent goodwill impairment testing during the fourth quarter of 2016 and determined that there was no impairment in the value of the asset as of December 31, 2016.

No impairment loss in the value of goodwill or goodwill amortization expense was recognized during the three months ended March 31, 2017. Additionally, there was no accumulated impairment or accumulated amortization related to goodwill at March 31, 2017 or December 31, 2016.

Intangible Assets

The following is a summary of intangible assets excluding goodwill and value of business acquired (VOBA) recorded as other assets at March 31, 2017 and December 31, 2016:



	Weighted-average remaining amortization period (in years)	Gross carrying amount		Accumulated amortization			Net carrying amount
March 31, 2017
Amortizing intangible assets
Agency agreements acquired	3.5	$	10,284	$	(3,298	)	$	6,986
Trade names acquired	1.9	720		(324		)	396
Non-amortizing intangible assets
Licenses acquired		1,185		—			1,185
Total		$	12,189	$	(3,622	)	$	8,567

December 31, 2016
Amortizing intangible assets
Agency agreements acquired	3.8	$	10,284	$	(2,784	)	$	7,500
Trade names acquired	2.1	720		(264		)	456
Non-amortizing intangible assets
Licenses acquired		1,185		—			1,185
Total		$	12,189	$	(3,048	)	$	9,141

No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the three months ended March 31, 2017.

Amortization expense was $1,794,000 for the three months ended March 31, 2017. Estimated amortization expense to be recognized by the Company over the next five years is as follows:



Year ending December 31,	Estimated Amortization Expense
Remaining 2017	$	1,799
2018	2,271
2019	2,159
2020	1,071
2021	358
2022	49

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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