Goodwill and Intangible Assets

Identifiable intangible assets that are separable and have determinable useful lives are valued separately and amortized over their benefit period. The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of December 31, 2017 (Successor) and December 31, 2016 (Successor) (in thousands):



	December 31, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade names	$	15,980	$	(7,283	)	$	8,697	$	15,980	$	(4,097	)	$	11,883
Customer relationships	256,650		(78,406		)	178,244		235,690		(35,550		)	200,140
Other intangible assets	3,640		(811		)	2,829		3,852		(494		)	3,358
	$	276,270	$	(86,500	)	$	189,770	$	255,522	$	(40,141	)	$	215,381

The weighted average amortization period of these intangible assets in the aggregate is 4.3 years. Total amortization expense of intangible assets above was $46.3 million for the year ended December 31, 2017 (Successor), $34.9 million for the year ended December 31, 2016 (Successor), $5.2 million for the period from October 9, 2015 to December 31, 2015 (Successor) and $7.8 million for the period from January 1, 2015 to October 8, 2015 (Predecessor), respectively.

Future amortization for the next five fiscal years and thereafter is as follows (in thousands):



Years Ending December 31,
2018	$	47,366
2019	47,481
2020	46,492
2021	28,683
2022	14,034
Thereafter	5,714
	$	189,770

Changes in goodwill between December 31, 2016 (Successor) and December 31, 2017 (Successor), consisted of the following (in thousands):



	Carrying Value
Balance at December 31, 2016	$	437,935
Goodwill acquired	26,661
Purchase price allocation adjustments from prior periods	(7,680		)
Impact of foreign exchange rates	1,821
Balance at December 31, 2017	$	458,737

As of December 31, 2017, goodwill allocated to the SBP and MI segments was $452.8 million and $5.9 million, respectively. As of December 31, 2016, goodwill allocated to the SBP and Ml segments was $432.6 million and $5.3 million, respectively. Changes to initial purchase price allocations related to acquisitions may arise from changes in estimates from conditions that existed at the applicable acquisition date and as a result of net working capital adjustments. The Company performed its goodwill impairment test as of October 1, 2017, and the fair value of each reporting unit substantially exceeded its carrying value, as such, there was no impairment related to goodwill.