NOTE 5. GOODWILL AND INTANGIBLE ASSETS

Goodwill balances by business segment at December 31, 2018 and 2017 were:



DOLLARS IN MILLIONS	2018		2017
Preferred Property & Casualty Insurance	$	49.6	$	49.6
Specialty Property & Casualty Insurance	843.4		54.0
Life & Health Insurance	219.4		219.4
Total	$	1,112.4	$	323.0

The Company tests goodwill for recoverability at the reporting unit level on an annual basis, or whenever events or circumstances indicate the fair value of a reporting unit may have declined below its carrying value. In 2018, the Company changed the date on which it performs the annual goodwill impairment test from January 1 to October 1, moving the test date closer to year-end. Accordingly, the Company performed two goodwill impairment tests in 2018, the first as of January 1, 2018 and the second as of October 1, 2018. The Company performed a qualitative goodwill impairment assessment as of both dates for all reporting units with goodwill. In prior years, the Company performed a quantitative goodwill impairment assessment. The qualitative assessment takes into consideration changes in macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy and changes in our stock price since the last quantitative assessment, which was performed on January 1, 2017. Both the qualitative and quantitative goodwill impairment assessments compare the estimated fair value of a reporting unit to its carrying value to determine if there is an impairment of goodwill. For each reporting unit tested, the estimated fair value exceeded the carrying value of the reporting unit, and the Company concluded that the associated goodwill was recoverable.

Definite and indefinite lived intangible assets at December 31, 2018 and 2017 were:



DOLLARS IN MILLIONS	2018		2017
Definite Lived Intangible Assets:
Value of Business Acquired	$	30.2	$	26.0
Customer Relationships	6.7		7.3
Agent Relationships	68.0		15.6
Trade Names	7.0		1.4
Internal-Use Software	149.1		82.9
Total Definite Lived Intangible Assets	261.0		133.2
Indefinite Lived Intangible Assets:
Trade Names	5.2		5.2
Insurance Licenses	42.6		34.6
Total Indefinite Lived Intangible Assets	47.8		39.8
Total Intangible Assets	$	308.8	$	173.0

The Company records intangible assets acquired in business combinations and certain costs incurred developing and customizing internal-use software within Other Assets on the Consolidated Balance Sheet. Definite lived intangible assets are amortized over the estimated profit emergence period or estimated useful life of the asset. Indefinite lived intangible assets are not amortized, but rather tested annually for impairment. In 2018 and 2017, the Company recognized amortization expense on definite lived intangible assets of $166.4 million and $11.3 million, respectively.