Goodwill and Intangible Assets

Goodwill

The following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018:



	Crawford Claims Solutions			Crawford TPA Solutions			Crawford Specialty Solutions			Total
	(In thousands)
Balance at December 31, 2017:
Goodwill	$	55,994		$	168,968		$	92,566		$	317,528
Accumulated impairment losses	(20,407		)	(159,424		)	(40,781		)	(220,612		)
Net goodwill	35,587			9,544			51,785			96,916
2018 Activity:
Goodwill of acquired business	—			—			1,296			1,296
Goodwill of disposed business	—			—			(19,598		)	(19,598		)
Accumulated impairment losses of disposed business	—			—			19,598			19,598
Foreign currency effects	(441		)	(238		)	(643		)	(1,322		)
Balance at December 31, 2018:
Goodwill	55,553			168,730			73,621			297,904
Accumulated impairment losses	(20,407		)	(159,424		)	(21,183		)	(201,014		)
Net goodwill	35,146			9,306			52,438			96,890
2019 Activity:
Goodwill of acquired businesses	—			—			1,164			1,164
Impairment of goodwill	(17,484		)	—			—			(17,484		)
Foreign currency effects	6			4			62			72
Balance at December 31, 2019:
Goodwill	55,559			168,734			74,847			299,140
Accumulated impairment losses	(37,891		)	(159,424		)	(21,183		)	(218,498		)
Net goodwill	$	17,668		$	9,310		$	53,664		$	80,642

The Company recognized a non-cash goodwill impairment charge in 2019 totaling $17,484,000, related to the valuation of our Crawford Claims Solutions segment, due to lower forecasts in that reporting unit. There were no goodwill impairment charges in 2018. The Company recognized a goodwill impairment in the Garden City Group reporting unit of $19,598,000 during the year ended December 31, 2017. These impairment charges did not affect the Company's liquidity and had no effect on the Company's compliance with the financial covenants under its Credit Facility.

Intangible Assets

The following is a summary of finite-lived intangible assets acquired through business acquisitions as of December 31, 2019 and 2018:



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Weighted-Average Amortization Period
	(In thousands, except years)
December 31, 2019:
Customer relationships	$	127,362	$	(92,354	)	$	35,008	4.0 years
Technology-based	16,562		(9,108		)	7,454		7.0 years
Trade name	1,795		(1,636		)	159		1.7 years
Other	5,485		(3,869		)	1,616		1.8 years
Total	$	151,204	$	(106,967	)	$	44,237	3.8 years
December 31, 2018:
Customer relationships	$	126,061	$	(83,275	)	$	42,786	4.8 years
Technology-based	16,562		(8,104		)	8,458		7.9 years
Trade name	1,580		(1,580		)	—		0.0 years
Other	5,475		(2,517		)	2,958		2.2 years
Total	$	149,678	$	(95,476	)	$	54,202	4.7 years

Amortization of finite-lived intangible assets was $11,277,000, $11,152,000, and $10,982,000 for the years ended December 31, 2019, 2018, and 2017, respectively. These amortization expenses were excluded from segment operating earnings (see Note 13, "Segment and Geographic Information"). Intangible assets subject to amortization are amortized on a straight-line basis over lives ranging from 2 to 15 years.

At December 31, 2019, annual estimated aggregate amortization expense for intangible assets subject to amortization for the next five years is as follows:



	Annual Amortization Expense
Year Ending December 31,	(In thousands)
2020	$	10,866
2021	9,758
2022	4,022
2023	3,936
2024	3,488

The following is a summary of indefinite-lived intangible assets at December 31, 2019 and 2018:



	Gross Carrying Amount		Accumulated Impairments			Net Carrying Value
	(In thousands)
December 31, 2019:
Trade names	$	32,502	$	(1,656	)	$	30,846
December 31, 2018:
Trade names	$	32,477	$	(1,656	)	$	30,821

During the year ended December 31, 2018, the Company recognized an impairment of $1,056,000 related to an indefinite-lived trade name.