NOTE 7 – GOODWILL AND INTANGIBLE ASSETS

The table below summarizes goodwill by business segment:



(Dollars in thousands)	Cinema		Real Estate		Total
Balance at January 1, 2017	$	14,604	$	5,224	$	19,828
Foreign currency translation adjustment		448		—		448
Balance at December 31, 2017	$	15,052	$	5,224	$	20,276
Foreign currency translation adjustment		(831)		—		(831)
Balance at December 31, 2018	$	14,221	$	5,224	$	19,445

The Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis. To test the impairment of goodwill, the Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. The most recent annual assessment occurred in the fourth quarter of 2018. The assessment results indicated that there is no impairment to our goodwill as of December 31, 2018.

The tables below summarize intangible assets other than goodwill:



	December 31, 2018
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,592	$	7,254	$	1,951	$	37,797
Less: Accumulated amortization		(24,145)		(5,207)		(1,076)		(30,428)
Net intangible assets other than goodwill	$	4,447	$	2,047	$	875	$	7,369



	December 31, 2017
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,860	$	7,254	$	1,139	$	37,253
Less: Accumulated amortization		(23,292)		(4,936)		(483)		(28,711)
Net intangible assets other than goodwill	$	5,568	$	2,318	$	656	$	8,542

We amortize our beneficial leases over the lease period, the longest of which is approximately 30 years; our trade name using an accelerated amortization method over its estimated useful life of 30 years; and other intangible assets over their estimated useful life of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets, with a balance of $496,000 and $421,000 as of December 31, 2018 and 2017). For the years ended December 31, 2018, 2017, and 2016, our amortization expense was $1.9 million, $1.7 million, and $1.9 million, respectively.

As of December 31, 2018, the estimated amortization expense for our amortizable intangibles, in the five succeeding years and thereafter is as follows:



(Dollars in thousands)	Estimated Future Amortization Expense
2019	$	1,342
2020		979
2021		840
2022		750
2023		729
Thereafter		2,233
Total future amortization expense	$	6,873