GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill and components of intangible assets (subject to amortization) consist of the following items:



		December 31, 2018						December 31, 2017
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relations	5-8	$	1,329,580	$	718,890	$	610,690	$	1,588,700	$	872,654	$	716,046
Vendor relations	10	6,654,497		3,531,764		3,122,733		6,654,497		2,866,314		3,788,183
Trademark/Trade name	6-16	1,249,887		436,869		813,018		1,321,000		423,514		897,486
TCEP Technology/Patent	15	13,287,000		5,294,843		7,992,157		13,287,000		4,409,043		8,877,957
Non-compete agreements	3-5	196,601		156,680		39,921		189,000		145,667		43,333
Goodwill		—		—		—		176,349		—		176,349
		$	22,717,565	$	10,139,046	$	12,578,519	$	23,216,546	$	8,717,192	$	14,499,354

Intangible assets are amortized on a straight-line basis. We continually evaluate the amortization period and carrying basis of intangible assets to determine whether subsequent events and circumstances warrant a revised estimated useful life or reduction in value.

Total amortization expense of intangibles was $1,818,854 and $1,818,475 for the years ended December 31, 2018 and 2017, respectively.

Estimated future amortization expense is as follows:



2019	$	1,823,812
2020	1,823,812
2021	1,823,812
2022	1,608,884
2023	1,251,500
Thereafter	4,246,699
	$	12,578,519

We analyzed the goodwill on the books for the Nickco as of December 31, 2018 to determine whether the amount should be impaired at year end. Nickco was purchased with anticipated EBITDA to be in excess of $700,000 with the synergies of the two companies. The EBITDA for the first 12 months after acquisition of Nickco was well below the expected EBITDA. The earnout target for the seller of the business during the initial 12 months was a range between $392,000 and $567,000; the achieved results of $334,000 did not meet the lower end of the threshold. Our budgeted target EBITDA for 2018 at this segment was $461,000 of EBITDA, the results came in over $1 million short of the target. There were some circumstances around the operations and downtime that impacted these results. Based on the above financial performance, as well as the current outlook for 2019, the Company impaired the remaining goodwill.

As a result of the above, we recognized a $176,349 goodwill impairment in 2018, which is included in selling, administrative and general expenses and thus eliminated the goodwill balance in our Recovery segment. At December 31, 2018 and 2017, there was $0 and $176,349 goodwill recorded, respectively. Our Black Oil and Refining and Marketing segment did not have any goodwill recorded as of December 31, 2018 and 2017.