The Company tests goodwill and indefinite-lived intangible assets for impairment annually and between annual tests if impairment indicators are present. Such indicators may include, but are not limited to, significant changes in economic and competitive conditions, the impact of the economic environment on the Company’s customer base or its businesses, or a material negative change in its relationships with significant customers.

The Company’s annual goodwill impairment assessment as of October 1 for all of its reporting units found no impairment in continuing operations in 2019, 2018 or 2017. During 2019, management performed a qualitative assessment for all of its reporting units. After considering changes to assumptions used in the most recent quantitative annual testing for each reporting unit, including macroeconomic conditions, industry and market considerations, overall financial performance, the magnitude of the excess of fair value over the carrying amount of each reporting unit as determined in the most recent quantitative annual testing, and other factors, management concluded that it was not more likely than not that the fair values of the reporting units were less than their respective carrying values and, therefore, did not perform a quantitative analysis in 2019. A qualitative analysis was also performed at October 1, 2018 and 2017.

The changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018 were as follows:

	Distribution		Material Handling			Total
January 1, 2018	$	505	$	59,466		$	59,971
Foreign currency translation		—		(903	)		(903	)
January 1, 2019	$	505	$	58,563		$	59,068
Acquisition		7,211		—			7,211
Foreign currency translation		—		495			495
December 31, 2019	$	7,716	$	59,058		$	66,774

Intangible assets were established in connection with acquisitions. These intangible assets, other than goodwill and certain trade names, are amortized over their estimated useful lives. The Company performed an annual impairment assessment for the indefinite lived trade names as of October 1, 2019, 2018 and 2017. In performing this assessment the Company uses an income approach, based primarily on Level 3 inputs, to estimate the fair value of the trade name. An impairment charge would be recorded if the carrying value of the trade name exceeds the estimated fair value at the date of assessment. Refer to Note 3 for the intangible assets acquired through the Tuffy acquisition during 2019.

			2019							2018
	Weighted Average Remaining Useful Life (years)		Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Trade Names - Indefinite Lived			$	9,782	$	—		$	9,782	$	9,782	$	—		$	9,782
Trade Names		4.8		580		(84	)		496		80		(45	)		35
Customer Relationships		1.7		47,656		(38,096	)		9,560		39,521		(31,896	)		7,625
Technology		4.6		24,980		(14,624	)		10,356		24,980		(12,142	)		12,838
Non-competition agreements		4.7		600		(40	)		560		—		—			—
Patents		0.0		11,730		(11,730	)		—		11,730		(11,730	)		—
			$	95,328	$	(64,574	)	$	30,754	$	86,093	$	(55,813	)	$	30,280

Intangible amortization expense was $8,077, $8,099 and $8,378 in 2019, 2018 and 2017, respectively. Estimated annual amortization expense for intangible assets with finite lives for the next five years is: $6,165 in 2020; $3,554 in 2021; $3,554 in 2022; $3,554 in 2023 and $2,366 in 2024.