Goodwill and Intangible Assets

The changes in the carrying amount of the Company’s goodwill by reportable segment for the years ended December 31, 2018, 2017 and 2016 are as follows:



	Warehouse			Third-party managed			Transportation			Total
	(In thousands)
December 31, 2015	$	171,498		$	3,179		$	12,248		$	186,925
Impact of foreign currency translation	196			(123		)	(57		)	16
Write-offs	(112		)	—			(24		)	(136		)
December 31, 2016	171,582			3,056			12,167			186,805
Impact of foreign currency translation	972			8			384			1,364
December 31, 2017	172,554			3,064			12,551			188,169
Impact of foreign currency translation	(1,658		)	(174		)	(242		)	(2,074		)
December 31, 2018	$	170,896		$	2,890		$	12,309		$	186,095

The write-offs in the table above relates to the residual goodwill allocated to the Company’s operations in Argentina.

Intangible assets subject to amortization as of December 31, 2018 and 2017 are as follows:



	Customer relationships			Above-market leases			In-place lease			Below-market leases			Total
	(In thousands, except years)
Gross	$	33,788		$	143		$	3,778		$	9,126		$	46,835
Additions	—			—			—			—			—
Accumulated amortization	(30,169		)	(38		)	(1,004		)	(5,644		)	(36,855		)
Net definite lived intangible assets	$	3,619		$	105		$	2,774		$	3,482		9,980
Indefinite lived intangible asset (Trade name)													15,076
Identifiable intangible assets – net, December 31, 2018													$	25,056
Weighted-average remaining useful life at December 31, 2018	9.1			4.8			4.8			33.2

Gross	$	33,788		$	—		$	—		$	9,126		$	42,914
Additions	—			143			3,778			—			3,921
Accumulated amortization	(29,328		)	(16		)	(430		)	(5,492		)	(35,266		)
Net definite lived intangible assets	$	4,460		$	127		$	3,348		$	3,634		11,569
Indefinite lived intangible asset (Trade name)													15,076
Identifiable intangible assets – net, December 31, 2017													$	26,645
Weighted-average remaining useful life at December 31, 2017	10.0			5.8			5.8			33.8

During 2017, as part of an addition to the Company’s domestic cold storage operations in the Warehouse segment, the Company was assigned a tenant lease. This transaction resulted in the recognition of above-market and in-place lease intangible assets that will be amortized over the remaining term of the tenant lease.

Amortization of the above market lease asset is recorded as a reduction to lease revenue, while amortization of the in-place lease is recorded as amortization expense.

The following table describes the estimated amortization of intangible assets for the next five years and thereafter. In addition, the table describes the net impact on rent expense due to the amortization of below-market leases for the next five years and thereafter:



	Estimated Amortization of Customer Relationships and In-Place Lease Intangible Assets		Estimated Net Decrease to Lease Revenue Related to Amortization of Above-Market Leases		Estimated Net Increase to Lease Expense Related to Amortization of Below-Market Leases
	(In thousands)
Years Ending December 31:
2019	$	1,329	$	22	$	151
2020	1,240		22		151
2021	1,151		22		151
2022	1,062		22		151
2023	878		17		106
Thereafter	733		—		2,772
Total	$	6,393	$	105	$	3,482