There were no changes and no impairment of the Company’s goodwill during the Current Three Months or in the Prior Year Three Months. The annual evaluation of the Company’s goodwill, by segment, is typically performed as of October 1, the beginning of the Company’s fourth fiscal quarter or as deemed necessary due to the identification of a triggering event. In accordance with ASC 350, in the First Quarter of 2021, the Company did not note any triggering events requiring the reassessment of the fair value of its goodwill of its International reporting unit.

		March 31, 2021				December 31, 2020
	Estimated Lives in Years	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite-lived trademarks	Indefinite	$	242,396	$	—	$	246,786	$	—
Definite-lived trademarks	10-15		8,958		8,958		8,958		8,958
Licensing contracts	1-9		978		978		978		978
		$	252,332	$	9,936	$	256,722	$	9,936
Trademarks and other intangibles, net				$	242,396			$	246,786

The trademarks of Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific, Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko, Zoo York, Ed Hardy, Umbro, Modern Amusement, Buffalo, Lee Cooper, Hydraulic and Pony have been determined to have an indefinite useful life. Each of these intangible assets are tested for impairment annually and as needed on an individual basis and territorial basis as separate single units of accounting, with any related impairment charge recorded to the income statement at the time of determining such impairment. The annual evaluation of the Company’s indefinite-lived trademarks is typically performed as of October 1, the beginning of the Company’s fourth fiscal quarter, or as deemed necessary due to the identification of a triggering event.

In accordance with ASC 350, The Company did not note any triggering events requiring a reassessment of the fair value of its indefinite-lived trademarks and recorded zero impairment charges during the Current Quarter. Considering the impact of the COVID-19 pandemic, the Company reassessed the fair values of its indefinite-lived trademarks on current and future cash flows during 2020 and recorded impairment charges of $13.7 million primarily for the Rampage, Joe Boxer, Waverly, Fieldcrest and Umbro indefinite-lived trademarks during the Prior Year Quarter.

In March 2021, the Company completed its previously announced sale of Lee Cooper China for $16.0 million in gross proceeds. The Lee Cooper China sale included the sale of the Lee Cooper trademark in the People’s Republic of China, Hong Kong, Taiwan and Macau. The Company received approximately $15.9 million in net proceeds from the sale of Lee Cooper China and recorded a $15.0 million gain within operating income. Costs of $0.1 million directly associated with the sale primarily consisted of broker’s commission. The cost basis of Lee Cooper China was $0.9 million.

Other amortizable intangibles represent licensing contracts, which are amortized on a straight-line basis over their estimated useful lives of 1 to 9 years. Certain trademarks are amortized using estimated useful lives of 10 to 15 years with no residual values.

Amortization expense for intangible assets for both the Current Quarter and Prior Year Quarter was zero and less than $0.1 million, respectively.