Note 8 – Goodwill and Intangible Assets

The table below summarizes goodwill by business segment as of March 31, 2020 and December 31, 2019.



(Dollars in thousands)	Cinema		Real Estate		Total
Balance at December 31, 2019	$	21,224	$	5,224	$	26,448
Change in goodwill due to a purchase of a business combination		107		—		107
Foreign currency translation adjustment		(2,249)		—		(2,249)
Balance at March 31, 2020	$	19,082	$	5,224	$	24,306

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. The Company has performed an interim goodwill assessment as described in Note 3 – Impact of COVID-19 Pandemic and Liquidity. Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2020. 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. As of March 31, 2020, we were not aware that any events indicating potential impairment of goodwill had occurred outside of those described at Note 3 – Impact of COVID-19 Pandemic and Liquidity.

The tables below summarize intangible assets other than goodwill, as of March 31, 2020 and December 31, 2019, respectively.



	As of March 31, 2020
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	12,044	$	9,062	$	4,314	$	25,420
Less: Accumulated amortization		(10,032)		(7,148)		(3,819)		(20,999)
Net intangible assets other than goodwill	$	2,012	$	1,914	$	495	$	4,421



	As of December 31, 2019
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	15,048	$	7,258	$	3,145	$	25,451
Less: Accumulated amortization		(14,496)		(5,449)		(1,186)		(21,131)
Net intangible assets other than goodwill	$	552	$	1,809	$	1,959	$	4,320

Beneficial leases obtained in business combinations where we are the landlord are amortized over the life of the relevant leases. Trade names are amortized based on the accelerated amortization method over their estimated useful life of 30 years, and other intangible assets are amortized over their estimated useful lives of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets). The table below summarizes the amortization expense of intangible assets for the quarter ended March 31, 2020.



	Three Months Ended
	March 31,
(Dollars in thousands)	2020		2019
Beneficial lease amortization	$	25	$	79
Other amortization		76		22
Total intangible assets amortization	$	101	$	101