Goodwill and Intangible Assets and Liabilities

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets And Liabilities Disclosure [Abstract]

Goodwill and Intangible Assets and Liabilities

Note 10. Goodwill and Intangible Assets and Liabilities

There were no changes in the carrying amount of goodwill occurring during the three and six months ended June 30, 2021. The balance of goodwill recorded in our Fiber Infrastructure segment as of June 30, 2021 and December 31, 2020 is as follows:

(Thousands)	Fiber Infrastructure		Total
Goodwill at December 31, 2020	$	601,878	$	601,878
Goodwill at June 30, 2021		601,878		601,878

(Thousands)	June 30, 2021						December 31, 2020
	Original Cost			Accumulated Amortization			Original Cost			Accumulated Amortization
Finite life intangible assets:
Customer lists	$	416,104		$	(94,426	)	$	416,104		$	(82,989	)
Contracts		52,536			(4,925	)		48,269			(1,068	)
Underlying Rights		10,497			(262	)		10,497			(87	)
Total intangible assets	$	479,137					$	474,870
Less: accumulated amortization		(99,613	)					(84,145	)
Total intangible assets, net	$	379,524					$	390,725
Finite life intangible liabilities:
Below-market leases	$	191,154			(8,021	)	$	190,086			(2,200	)
Finite life intangible liabilities:
Below-market leases	$	191,154					$	190,086
Less: accumulated amortization		(8,021	)					(2,200	)
Total intangible liabilities, net	$	183,133					$	187,886

As of June 30, 2021, the remaining weighted average amortization period of the Company’s intangible assets and liabilities was 15.3 years and 18.4 years, respectively. Amortization expense for the three and six months ended June 30, 2021 was $4.7 million and $9.5 million, respectively. Amortization expense for the three and six months ended June 30, 2020 was $7.8 million and $16.1 million, respectively.

Amortization expense is estimated to be $19.1 million for the full year of 2021, $19.1 million in 2022, $19.0 million in 2023, $19.0 million in 2024, and $19.0 million for 2025.