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Balance Sheet Disclosures
6 Months Ended
Jun. 30, 2020
Balance Sheet Disclosures [Abstract]  
Balance Sheet Disclosures

Note 3 - Balance Sheet Disclosures

Goodwill consists of the following:

 

($ in thousands)

 

June 30,
2020

 

 

December 31,
2019

 

Beginning balance

 

$

23,837

 

 

$

2,887

 

Acquisitions

 

 

 

 

 

22,020

 

Reclassified to Assets held for sale

 

 

 

 

 

(149

)

Reduction of goodwill

 

 

 

 

 

(1,018

)

Acquisition measurement period adjustment

 

 

 

 

 

97

 

 

 

$

23,837

 

 

$

23,837

 

 

All of the Company’s goodwill is included in its Trucking segment.

Intangible assets consist of the following:

 

 

 

June 30, 2020

 

 

December 31, 2019

 

($ in thousands)

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

 

$

4,604

 

 

$

(1,193

)

 

$

3,411

 

 

$

4,604

 

 

$

(898

)

 

$

3,706

 

Trade names

 

 

2,416

 

 

 

(499

)

 

 

1,917

 

 

 

2,416

 

 

 

(348

)

 

 

2,068

 

Non-competition agreements

 

 

325

 

 

 

(86

)

 

 

239

 

 

 

325

 

 

 

(54

)

 

 

271

 

 

 

$

7,345

 

 

$

(1,778

)

 

$

5,567

 

 

$

7,345

 

 

$

(1,300

)

 

$

6,045

 

 

Amortization expense for the six months ended June 30, 2020 and 2019, was $0.5 million and $0.4 million, respectively. Amortization expense for the three months ended June 30, 2020 and 2019, was $0.2 million and $0.2 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 8.6 years as of June 30, 2020, of which the weighted-average remaining useful life for the customer relationships was 8.6 years, for the trade names was 9.2 years, and for the non-competition agreements was 3.7 years.