Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

We assess goodwill and intangible assets with indefinite lives for impairment annually during the fourth quarter or when an event occurs or circumstances change that would indicate potential impairment. For the year ended December 31, 2019, we performed a qualitative analysis of our goodwill and indefinite-lived intangible assets and noted no indicators of impairment. Through that analysis, we determined that it is not likely that the carrying value of goodwill and indefinite-lived intangible assets exceeded their respective fair values. As of each of December 31, 2019 and 2018, the carrying amount of goodwill was $659.6 million.

As of December 31, 2019 and 2018, intangible assets, net consisted of the following:

	As of December 31, 2019
	Weighted-Average
	Remaining
	Amortization Period	Gross		Accumulated		Net
(Amounts in thousands, except years)	(Years)	Carrying Value		Amortization		Carrying Value
Indefinite-lived intangible assets:
Trade names, trademarks and other		$	344,075	$	—	$	344,075
Finite-lived intangible assets:
Third party licensing rights	0.5		24,361		(23,224)		1,137
Total intangible assets, net		$	368,436	$	(23,224)	$	345,212

	As of December 31, 2018
	Weighted-Average
	Remaining
	Amortization Period	Gross		Accumulated		Net
(Amounts in thousands, except years)	(Years)	Carrying Value		Amortization		Carrying Value
Indefinite-lived intangible assets:
Trade names, trademarks and other		$	344,075	$	—	$	344,075
Finite-lived intangible assets:
Third party licensing rights	1.5		24,361		(20,821)		3,540
Other	42.9		1,726		(312)		1,414
Total intangible assets, net		$	370,162	$	(21,133)	$	349,029

Amortization expense related to finite-lived intangible assets totaled $2.4 million, $2.4 million and $2.5 million for the years ended December 31, 2019, 2018 and 2017, respectively. We expect that amortization expense on our existing intangible assets subject to amortization for the succeeding five years and thereafter will approximate the following:

(Amounts in thousands)
For the year ending December 31:
2020	$	1,014
2021		22
2022		22
2023		22
2024		22
2025 and thereafter		35
	$	1,137