Goodwill

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The following schedule discloses the changes in the carrying value of goodwill:

	Three Months ended
(Dollars in thousands)	March 31, 2020		March 31, 2019
Net carrying value at beginning of period	$	456,418	289,586
Acquisitions and adjustments	56,937		—
Net carrying value at end of period	$	513,355	289,586

The Company performed its annual goodwill impairment test during the third quarter of 2019 and determined the fair value of the aggregated reporting units exceeded the carrying value, such that the Company’s goodwill was not considered impaired. During the first quarter of 2020, the Company considered the impact of the COVID-19 pandemic and the current economic conditions and determined that such conditions would not likely reduce the fair value of a reporting unit below its carrying value, and therefore did not perform interim testing at March 31, 2020. Changes in the economic environment, operations of the aggregated reporting units, or other factors could result in the decline in the fair value of the aggregated reporting units which could result in a goodwill impairment in the future. Accumulated impairment charges were $40,159,000 as of March 31, 2020 and December 31, 2019.

For additional information on goodwill related to acquisitions, see Note 13.