Note 4. Goodwill and Other Intangible Assets

The following table summarizes goodwill and other intangible assets as of March 31, 2020 and December 31, 2019:


	March 31,		December 31,
	2020		2019
Goodwill	$	—	$	11,288

Other intangible assets, net:
Trade names	$	2,513	$	2,624
Favorable lease		23		26
	$	2,536	$	2,650

The Company tests the carrying value of goodwill and other intangible assets annually as of December 31 or when the events and circumstances warrant such a review. One of the methods for this review is performed using estimates of future cash flows. If the carrying value of goodwill or other intangible assets is considered impaired, an impairment charge is recorded for the amount by which the carrying value of the goodwill or intangible assets exceeds its fair value. Changes in estimates of cash flows and fair value, however, could affect the valuation.

Due to the macroeconomic effects of the COVID-19 pandemic, the Company conducted a test for impairment of goodwill for the Retail segment as of March 31, 2020 and recorded an impairment of $11,288. The methodology for determining the fair value was a combination of quoted market prices, prices of comparable businesses, discounted cash flows and other valuation techniques. For the discounted cash flow model, the most significant inputs were revenue and EBITDA projections, expected changes in working capital, and capital expenditure needs. The discount rate used in the model was approximately 17.0%. The Company’s goodwill was fully impaired as of March 31, 2020.

The carrying amounts of goodwill by reportable segment at March 31, 2020 were as follows:


	Retail		Internet
	Financial Services		Financial Services		Total
Goodwill	$	11,288	$	—	$	11,288
Accumulated impairment losses		(11,288)		—		(11,288)
	$	—	$	—	$	—

Intangible amortization expense was $110 for the three months ended March 31, 2020 and 2019. There were no significant changes to other intangible assets during the three months ended March 31, 2020. Intangible assets were determined to be not impaired as of March 31, 2020.