Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

For the year ended December 31, 2020, 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, 2020 and 2019, the carrying amount of goodwill was $659.6 million.

As of December 31, 2020 and 2019, intangible assets, net consisted of the following:

	As of December 31, 2020
	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	5.5		361		(238)		123
Total intangible assets, net		$	344,436	$	(238)	$	344,198

	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
Other	—		—		—		—
Total intangible assets, net		$	368,436	$	(23,224)	$	345,212

Amortization expense related to finite-lived intangible assets totaled $1.0 million during the year ended December 31, 2020 and $2.4 million for the years ended December 31, 2019 and 2018. During the year we wrote off a fully amortized finite life intangible totaling $24.0 million. 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:
2021	$	22
2022		22
2023		22
2024		22
2025		22
2026 and thereafter		13
	$	123