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Goodwill and Other Intangible Assets, Net
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):
Balance, January 1, 2019
$
515,321

Acquisitions
43,804

Measurement period adjustments
(1,211
)
Balance, December 31, 2019
557,914

Acquisitions
6,294

Measurement period adjustments
(4,994
)
Balance, March 31, 2020
$
559,214


Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets. Newmark completed its annual goodwill impairment testing for the year ended December 31, 2019, which did not result in a goodwill impairment (see Note 4 — “Acquisitions” for more information).

Other intangible assets consisted of the following (in thousands, except weighted-average life):
 
March 31, 2020
 
Gross
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Weighted-
Average
Remaining
Life (Years)
Indefinite life:
 

 
 

 
 

 
 
Trademark and trade names
$
11,350

 
$
—

 
$
11,350

 
N/A
License agreements (GSE)
5,390

 
—

 
5,390

 
N/A
Definite life:
 
 
 
 
 
 
 
Trademark and trade names
10,861

 
(9,210
)
 
1,651

 
0.2
Non-contractual customers
30,431

 
(6,977
)
 
23,454

 
0.7
License agreements
4,981

 
(3,535
)
 
1,446

 
0.1
Non-compete agreements
6,907

 
(2,674
)
 
4,233

 
0.6
Contractual customers
3,052

 
(1,279
)
 
1,773

 
0.0
Below market leases
941

 
(158
)
 
783

 
0.3
 Total
$
73,913

 
$
(23,833
)
 
$
50,080

 
0.6
 
December 31, 2019
 
Gross
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Weighted-
Average
Remaining
Life (Years)
Indefinite life:
 

 
 

 
 

 
 
Trademark and trade names
$
11,350

 
$
—

 
$
11,350

 
N/A
License agreements (GSE)
5,390

 
—

 
5,390

 
N/A
Definite life:
 
 
 
 
 
 
 
Trademark and trade names
10,511

 
(9,070
)
 
1,441

 
0.3
Non-contractual customers
24,262

 
(6,109
)
 
18,153

 
0.8
License agreements
4,981

 
(3,288
)
 
1,693

 
0.1
Non-compete agreements
6,953

 
(2,434
)
 
4,519

 
0.7
Contractual customers
3,052

 
(1,177
)
 
1,875

 
0.0
Below market leases
941

 
(136
)
 
805

 
0.3
 Total
$
67,440

 
$
(22,214
)
 
$
45,226

 
1.2

Intangible amortization expense for the three months ended March 31, 2020 and 2019 was $1.6 million and $1.3 million, respectively. Intangible amortization is included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations. Impairment charges are included in intangible amortization expense.
        
The estimated future amortization of definite life intangible assets as of March 31, 2020 was as follows (in thousands):
2020
$
6,011

2021
6,831

2022
4,766

2023
4,256

2024
3,403

Thereafter
8,073

Total
$
33,340