Goodwill and Intangibles

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES

NOTE 6 – GOODWILL AND INTANGIBLES

The carrying amount, including changes therein, of goodwill was as follows:

Balance as of December 31, 2019	$	85,125
Acquisitions		12,767
Disposals		-
Measurement period adjustments		-
Balance as of September 30, 2020	$	97,892

The Company did not recognize any impairments of goodwill in the three or nine months ended September 30, 2020 or 2019.

Intangible assets as of September 30, 2020 and December 31, 2019 consist of the following:

	September 30, 2020							December 31, 2019							Remaining
	Gross amount		Accumulated amortization			Net book value		Gross amount		Accumulated amortization			Net book value		useful life (in years)
Definite life intangible assets:
Customer relationships	$	111,130	$	(31,547	)	$	79,583	$	106,620	$	(23,759	)	$	82,861		18.5
Tradenames		21,001		(12,608	)		8,393		18,620		(9,282	)		9,338		9.5
Non-competes		600		(550	)		50		600		(410	)		190		2.3
Total intangibles	$	132,731	$	(44,705	)	$	88,026	$	125,840	$	(33,451	)	$	92,389

Amortization expense for the three months ended September 30, 2020 and 2019 was $3.8 million and $3.8 million, respectively, and was $11.3 million and $11.4 million for the nine months ended September 30, 2020 and 2019, respectively.

Amortization of intangible assets for the next five years and thereafter is expected to be as follows:

2020 (three months remaining)	$	3,376
2021		12,527
2022		11,933
2023		11,528
2024		11,124
Thereafter		37,538
	$	88,026