Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Note 5. Goodwill and Other Intangible Assets

The following table summarizes goodwill and other intangible assets as of December 31, 2019 and 2018:

	December 31,		December 31,
	2019		2018
Goodwill	$	11,288	$	11,288
Other intangible assets, net:
Trade names	$	2,624	$	3,062
Favorable lease		26		74
	$	2,650	$	3,136

In connection with the Restructuring, the Company recorded $11,288 in goodwill and $2,760 in intangible assets to the Retail segment, and $403 in intangible assets to the Internet segment, representing the fair values at the Restructuring date of December 12, 2018. See Note 14 for additional information regarding the Restructuring.

The carrying amounts of goodwill by reportable segment at December 31, 2019 were as follows:

	Retail		Internet
	FinancialServices		FinancialServices		Total
Goodwill	$	11,288	$	—	$	11,288
Accumulated impairment losses		—		—		—
	$	11,288	$	—	$	11,288

The changes in the carrying amount of goodwill are summarized as follows:

Predecessor
Balance at December 31, 2016	$	113,290
Other acquisitions, net		463
Retail segment impairment		(113,753)
Balance at December 31, 2017		—
Balance at December 12, 2018	$	—
Successor
Balance at December 13, 2018	$	—
Goodwill recognized in restructuring		11,288
Balance at December 31, 2018	$	11,288
Balance at December 31, 2019	$	11,288

For the Successor years ending December 31, 2019 and 2018, and the Predecessor year ending December 31, 2017, the Company conducted its annual test for impairment of goodwill for the Retail financial services reporting unit and concluded that an impairment for the Retail services reporting unit of $-0-,  $-0-. and $113,753, respectively, should be taken. The methodology for determining the fair value of the Retail financial services reporting unit in 2019 and 2017 was a combination of quoted market prices, prices of comparable businesses, discounted cash flows and other valuation techniques. For 2018, the fair value of the consideration transferred in the business combination accounting was used to estimate the fair value of the Retail financial services reporting unit due to the short period of time between the Restructuring and December 31, 2018, and the absence of any factors indicating a potential decline in fair value during the timeframe. Goodwill for the Retail financial services reporting unit was fully impaired as of December 31, 2017.

Other intangible assets are summarized as follows:

	December 31, 2019						December 31, 2018
	GrossCarrying		Accumulated		NetCarrying		GrossCarrying		Accumulated		NetCarrying
	Amount		Amortization		Amount		Amount		Amortization		Amount
Non-compete agreements	$	—	$	—	$	—	$	—	$	—	$	—
Favorable lease		78		(52)		26		78		(4)		74
Trade names		3,085		(461)		2,624		3,085		(23)		3,062
Total	$	3,163	$	(513)	$	2,650	$	3,163	$	(27)	$	3,136

Amortization of specifically identifiable intangibles for the next 5 years is estimated to be:

Year Ending
December 31,	Amount
2020	$	464
2021		437
2022		437
2023		437
2024		437
Thereafter		438
	$	2,650

Intangible amortization expense for the Successor year ended December 31, 2019 and the Successor period ended December 31, 2018 was $438 and $23, respectively, and for the Predecessor period ended December 12, 2018, and the Predecessor year ended December 31, 2017, was $630 and $496, respectively.