Goodwill and Intangibles

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill was $6.1 million at both June 30, 2021 and December 31, 2020. The goodwill is associated with the Company's ODR segment. Intangible assets are comprised of the following:


(in thousands)	Gross carrying amount		Accumulated amortization		Net intangible assets, excluding goodwill
June 30, 2021(1)
Amortized intangible assets:
Customer Relationships – ODR	$	4,710	$	(3,312)	$	1,398
Favorable Leasehold Interests(2)	190		(75)		115
Total amortized intangible assets	4,900		(3,387)		1,513
Unamortized intangible assets:
Trade Name	9,960		—		9,960
Total unamortized intangible assets	9,960		—		9,960
Total amortized and unamortized assets, excluding goodwill	$	14,860	$	(3,387)	$	11,473


(in thousands)	Gross carrying amount		Accumulated amortization		Net intangible assets, excluding goodwill
December 31, 2020(1)
Amortized intangible assets:
Customer Relationships – ODR	$	4,710	$	(3,112)	$	1,598
Favorable Leasehold Interests	530		(407)		123
Total amortized intangible assets	5,240		(3,519)		1,721
Unamortized intangible assets:
Trade Name	9,960		—		9,960
Total unamortized intangible assets	9,960		—		9,960
Total amortized and unamortized assets, excluding goodwill	$	15,200	$	(3,519)	$	11,681

(1) The Backlog-Construction intangible asset previously shown at December 31, 2020 has been fully amortized. Accordingly, its gross carrying amount of $4.8 million and corresponding accumulated amortization of $4.8 million have been removed from the table.

(2) The gross carrying amount and accumulated amortization associated with our Favorable leasehold interests intangible asset was reduced by $0.3 million due to the lease termination of our Western Pennsylvania office associated with the intangible asset.

The definite-lived intangible assets are amortized over the period the Company expects to receive the related economic benefit, which for customer relationships is based upon estimated future net cash inflows. The Company has previously determined that its trade name has an indefinite useful life. The Limbach trade name has been in existence since the Company’s founding in 1901 and therefore is an established brand within the industry.

Total amortization expense for these amortizable intangible assets was $0.1 million and $0.2 million for the three and six months ended June 30, 2021, respectively, and $0.3 million and $0.4 million for the three and six months ended June 30, 2020, respectively.

The Company did not recognize any impairment charges on its goodwill or intangible assets for the three and six months ended June 30, 2021 or 2020.