Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets

Goodwill and Intangible Assets

4. Goodwill and Intangible Assets

Goodwill

The following is a summary of changes in the Company’s goodwill by segment for the six months ended June 30, 2019 (in thousands):

	Good Sam
	Services and		RV and
	Plans		Outdoor Retail		Consolidated
Balance as of December 31, 2018	$	50,320	$	308,797	$	359,117
Acquisitions (1)		—		24,559		24,559
Transfers of assets between reporting units		(26,491)		26,491		—
Balance as of June 30, 2019	$	23,829	$	359,847	$	383,676

(1) See Note 10 — Acquisitions.

The Company evaluates goodwill for impairment on an annual basis as of the beginning of the fourth quarter, or more frequently if events or changes in circumstances indicate that the Company’s goodwill or indefinite-lived intangible assets might be impaired. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then it is required to perform the first step of a two-step impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company records an impairment of goodwill equal to the amount that the carrying amount of a reporting unit exceeds its fair value.

As of January 1, 2019, the Company transferred certain assets related to the Good Sam Club and co-branded credit card from GSS Enterprises, LLC (“GSS”) within the Good Sam Services and Plans segment to CWI, Inc. (“CWI”) within the RV and Outdoor Retail segment. This resulted in a transfer of $26.5 million of goodwill from the Good Sam Services and Plans segment to the RV and Outdoor Retail segment based on relative fair value as of January 1, 2019 of the portion of the reporting unit transferred.

Intangible Assets

Finite–lived intangible assets and related accumulated amortization consisted of the following at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
	Cost or		Accumulated
	Fair Value		Amortization		Net
Good Sam Services and Plans:
Membership and customer lists	$	9,140	$	(7,574)	$	1,566
RV and Outdoor Retail:
Customer lists and domain names		3,415		(2,064)		1,351
Trademarks and trade names		29,304		(3,831)		25,473
Websites		6,074		(1,459)		4,615
	$	47,933	$	(14,928)	$	33,005
	December 31, 2018
	Cost or		Accumulated
	Fair Value		Amortization		Net
Good Sam Services and Plans:
Membership and customer lists	$	9,140	$	(7,174)	$	1,966
RV and Outdoor Retail:
Customer lists and domain names		3,415		(1,559)		1,856
Trademarks and trade names		29,304		(2,853)		26,451
Websites		6,074		(1,063)		5,011
	$	47,933	$	(12,649)	$	35,284