Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2019

6. Intangible Assets and Goodwill

Company’s intangible assets as of September 30, 2019 are comprised of trade names, customer relationships and non-compete agreements. Intangible assets are recorded at cost, less accumulated amortization. Amortization of intangible assets with finite lives is provided for over their estimated useful lives on a straight-line basis. The life of the trade names are indefinite.

Amortization expense related to the intangible assets amounted to approximately $19.6 million and $0.7 million for the three months ended September, 2019 and 2018, respectively. Amortization expense related to intangible assets amounted to approximately $58.5 million and $2.2 million for the nine months ended September 30, 2019 and 2018, respectively.

There were no indicators present for impairment to intangible assets or goodwill during the three months ended September 30, 2019 and 2018. As a result, there were no impairment charges recorded related to intangible assets or goodwill during the three and nine months ended September 30, 2019 and 2018.

The changes in the carrying amount of goodwill (in thousands) consisted of the following:


	Goodwill
Balance at December 31, 2018	$	376,132
Measurement period adjustments (1)		(19,318)
Balance at September 30, 2019	$	356,814

(1)

Represents measurement period adjustments related to the GBG Acquisition, as discussed in Note 3