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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
As of October 1, 2019, we performed our annual impairment test and concluded that there were no impairments of goodwill as the estimated fair value of each reporting unit exceeded its carrying value.
In 2018, as a result of a decline in market capitalization of the company, and lower than projected financial results of certain reporting units due to customer losses and operational inefficiencies, which caused us to revise our expectations with regard to future performance, we determined there were indicators present that would require an interim impairment analysis.
During 2018, we performed goodwill impairment tests and concluded that the fair values for certain reporting units were below their carrying amounts. The amount by which the carrying values of the impaired reporting units' goodwill exceeded their fair values was $180.2 million within our Global Solutions segment and $217.5 million within our Global Products segment, which were recognized as an impairment losses for the year ended December 31, 2018.
We recorded these amounts in “Goodwill and intangible asset impairment charges” in our 2018 consolidated statement of operations.
The following table summarizes the changes in the carrying amount of goodwill through December 31, 2019:
 
 
Global Solutions
 
Global Products
 
Consolidated
 
 
 
 
 
 
 
Carrying amount of goodwill, January 1, 2018
 
$
469,013

 
$
217,951

 
$
686,964

Currency translation adjustments
 
—

 
(637
)
 
(637
)
Acquisitions (see Note 4)
 
(4,933
)
 
130,364

 
125,431

Carrying amount of goodwill, December 31, 2018
 
464,080

 
347,678

 
811,758

Accumulated goodwill impairment, January 1, 2018
 
—

 
—

 
—

Goodwill impairment charge
 
(180,175
)
 
(217,461
)
 
(397,636
)
Accumulated goodwill impairment, December 31, 2018
 
(180,175
)
 
(217,461
)
 
(397,636
)
Net carrying amount of goodwill, December 31, 2018
 
283,905

 
130,217

 
414,122

Currency translation adjustments
 
—

 
2,936

 
2,936

Acquisition (see Note 4)
 
—

 
(23,877
)
 
(23,877
)
Net carrying amount of goodwill, December 31, 2019
 
$
283,905

 
$
109,276

 
$
393,181


Intangible assets at December 31, 2019 and 2018 were as follows:
 
2019
 
2018
 
Customer
Relationships
 
Tradenames
 
Other
Intangibles
 
Customer
Relationships
 
Tradenames
 
Other
Intangibles
Gross intangible assets
$
270,693

 
$
90,000

 
$
43,055

 
$
251,557

 
$
97,000

 
$
40,285

Accumulated amortization
(92,947
)
 
(16,520
)
 
(9,263
)
 
(62,283
)
 
(8,543
)
 
(3,841
)
Net intangible assets
$
177,746

 
$
73,480

 
$
33,792

 
$
189,274

 
$
88,457

 
$
36,444

Weighted average useful life
10 years

 
11 years

 
8 years

 
10 years

 
11 years

 
8 years


During 2018, we noted impairment indicators related to our intangible assets. We performed impairment tests for the asset groups to which our intangible assets are assigned and based on the projected undiscounted future cash flows, we recorded an impairment charge of $16.5 million related to a write-off of customer relationships for the year ended December 31, 2018. We recorded this amount in “Goodwill and intangible asset impairment charges” in our accompanying consolidated statements of operations.
At December 31, 2019 and 2018, $80.7 million and $99.2 million in net intangible assets were held in the Global Solutions segment and $204.3 million and $214.9 million were held in the Global Products segment, respectively. Amortization expense for intangible assets was $44.0 million for 2019 and $35.1 million for 2018.
Based on the current carrying value of intangible assets subject to amortization, estimated amortization expense is $41.5 million for 2020, $39.8 million for 2021, $38.9 million for 2022, $38.7 million for 2023 and $33.9 million for 2024.