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Goodwill and Intangible Assets, net
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net Goodwill and Intangible Assets, net
Impairment of Goodwill and Intangible Assets —During the first quarter of 2020, as a result of our reduced cash flow projections and the significant decline in our market capitalization as a result of the COVID-19 pandemic, we concluded that sufficient indicators existed to require us to perform an interim quantitative assessment of goodwill and intangible assets. As a result, we recorded goodwill impairment charges of $170.6 million and intangible asset impairment charges of $7.6 million. No impairment charges were recorded in the second quarter of 2020.
During the first quarter of 2020, we recognized goodwill impairment charges of $170.6 million, of which $121.0 million related to our Remington segment, and $49.5 million related to our Premier segment. We engaged a third-party valuation expert to assist us in performing an interim quantitative assessment to determine whether it was more likely than not that the carrying value of goodwill in our reporting units was impaired as of March 31, 2020. The fair value estimates for all reporting units were based on a blended analysis of the present value of future discounted cash flows and the market value approach. No impairment charges were recorded in the second quarter of 2020. See note 7.
Based on our quantitative assessment, we determined that the fair values of Remington and Premier were less than the carrying values of these reporting units. The carrying value of Remington was reduced by a $5.5 million impairment of the Remington trademarks prior to assessing goodwill for impairment. The excess carrying value of Remington and Premier over the estimate of fair value was recorded in “impairment” on our condensed consolidated statements of operations. No impairment charges were recorded in the second quarter of 2020. As of June 30, 2020, our Remington segment had $54.6 million goodwill remaining and our Premier segment had no goodwill remaining.
Intangible Assets
During the first quarter of 2020, we engaged a third-party valuation expert to assist in determining the fair value of our indefinite-lived trademarks. We recognized intangible asset impairment charges of $7.6 million related to trademarks within our Remington and JSAV segments which resulted from changes in estimated future revenues. The Remington and JSAV trademarks were written down to $4.9 million and $1.5 million, respectively, based on a valuation using the relief-from-royalty method. No impairment charges were recorded in the second quarter of 2020.
 
The changes in the carrying amount of goodwill for the six months ended June 30, 2020, are as follows (in thousands):
 
 
Remington
 
Premier
 
JSAV
 
Corporate and Other
 
Consolidated
Balance at December 31, 2019
 
$
143,854

 
$
49,524

 
$
10,211

 
$
2,017

 
$
205,606

Changes in goodwill:
 
 
 
 
 
 
 
 
 
 
Additions (1)
 
—

 
—

 
—

 
—

 
—

Adjustments (1)
 
31,800

 
—

 
—

 
—

 
31,800

Impairments (2)
 
(121,048
)
 
(49,524
)
 
—

 
—

 
(170,572
)
Balance at June 30, 2020
 
$
54,606

 
$
—

 
$
10,211

 
$
2,017

 
$
66,834

________
(1) The adjustment to Remington goodwill relates to changes in our final valuation of the acquired assets and liabilities associated with the acquisition of Remington. See note 4.
(2) See explanation of impairment charges above.
Intangible assets, net as of June 30, 2020 and December 31, 2019, are as follows (in thousands):
 
June 30, 2020
 
December 31, 2019
 
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
 
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Definite-lived intangible assets:
 
 
 
 
 
 
 
Remington management contracts
$
107,600

$
(9,254
)
$
98,346

 
$
148,500

$
(2,436
)
$
146,064

Premier management contracts
194,000

(23,129
)
170,871

 
194,000

(16,830
)
177,170

JSAV customer relationships
9,319

(2,732
)
6,587

 
9,319

(2,173
)
7,146

RED boat slip rights
3,100

(148
)
2,952

 
3,100

(70
)
3,030

Pure Wellness customer relationships
175

(114
)
61

 
175

(96
)
79

Other
47

(9
)
38

 
44

(3
)
41

 
$
314,241

$
(35,386
)
$
278,855

 
$
355,138

$
(21,608
)
$
333,530

 
 
 
 
 
 
 
 
 
Gross Carrying Amount
Impairment
Net Carrying Amount
 
Gross Carrying Amount
Impairment
Net Carrying Amount
Indefinite-lived intangible assets:
 
 
 
 
 
 
 
Remington trademarks
$
10,400

$
(5,500
)
$
4,900

 
$
10,300

$
—

$
10,300

JSAV trademarks
3,641

(2,141
)
1,500

 
3,641

—

3,641

RED trademarks
490

—

490

 
490

—

490

 
$
14,531

$
(7,641
)
$
6,890

 
$
14,431

$
—

$
14,431


Amortization expense for definite-lived intangible assets was $7.0 million and $13.8 million for the three and six months June 30, 2020, respectively. Amortization expense for definite-lived intangible assets was $3.0 million and $6.0 million for the three and six months June 30, 2019, respectively. The useful lives of our customer relationships range from 5 to 15 years. Our Remington management contracts, Premier management contracts and boat slip rights intangible assets were assigned useful lives of 22, 30, and 20 years, respectively.