GOODWILL AND OTHER INTANGIBLE ASSETS

The following table shows an analysis of goodwill and other intangible assets:




	Goodwill and other intangible assets
	Goodwill			Other intangible assets			Total
Balance as of December 31, 2016
Gross amount	$	199,889		$	96,599		$	296,488
Accumulated impairment losses and amortization	(2,299		)	(43,003		)	(45,302		)
	197,590			53,596			251,186
Amortization	—			(8,041		)	(8,041		)
Balance as of December 31, 2017
Gross amount	199,889			96,599			296,488
Accumulated impairment losses and amortization	(2,299		)	(51,044		)	(53,343		)
	197,590			45,555			243,145
Amortization	—			(5,727		)	(5,727		)
Balance as of December 31, 2018
Gross amount	199,889			96,599			296,488
Accumulated impairment losses and amortization	(2,299		)	(56,771		)	(59,070		)
	$	197,590		$	39,828		$	237,418

The following table shows an analysis of goodwill and other intangible assets included in investments in other ventures, under equity method:




	Goodwill and other intangible assets included in investments in other ventures, under equity method
	Goodwill			Other intangible assets			Total
Balance as of December 31, 2016
Gross amount	$	12,318		$	51,796		$	64,114
Accumulated impairment losses and amortization	(4,500		)	(39,934		)	(44,434		)
	7,818			11,862			19,680
Amortization	—			(2,946		)	(2,946		)
Balance as of December 31, 2017
Gross amount	12,318			51,796			64,114
Accumulated impairment losses and amortization	(4,500		)	(42,880		)	(47,380		)
	7,818			8,916			16,734
Acquired during the year	2,780			11,108			13,888
Amortization	—			(2,886		)	(2,886		)
Balance as of December 31, 2018
Gross amount	15,098			62,904			78,002
Accumulated impairment losses and amortization	(4,500		)	(45,766		)	(50,266		)
	$	10,598		$	17,138		$	27,736

On March 23, 2018, the Company made an equity investment in TWFG Holding Company LLC (“TWFG”) and the transaction was accounted under the equity method of accounting. Total consideration paid was allocated to the Company’s proportionate share of the net assets of TWFG, other identifiable intangible assets and goodwill. In connection with the acquisition of TWFG, the Company recognized identifiable finite lived intangible assets of $2.0 million and identifiable indefinite lived intangible assets of $9.1 million. In addition, the Company recognized goodwill of $2.8 million.

In accordance with the Company’s established accounting policy, the beginning of the fourth quarter was used as the date for performing the annual impairment test. The Company first assessed qualitative factors to determine whether it was necessary to perform a quantitative impairment test. Based on its qualitative assessment, the Company determined it was not more likely than not that the fair value of the goodwill and other intangible assets in question were less than their respective carrying amounts. The qualitative assessment included the following factors which the Company determined had not significantly deteriorated given specific facts and circumstances: macroeconomic conditions; industry and market conditions; costs factors; and overall financial performance. The Company also performed a quantitative analysis using a discounted cash flow model and concluded that the full amount of the goodwill and other intangible assets were not impaired. Other than the goodwill and other intangible assets acquired during the year as noted above and normal course amortization of intangible assets, in accordance with the Company’s established accounting policy, there were no adjustments to carried goodwill and other intangible assets during the year ended December 31, 2018.

The gross carrying value and accumulated amortization by major category of other intangible assets is shown below:




	Other intangible assets
At December 31, 2018	Gross carrying value		Accumulated amortization and impairment losses			Total
Customer relationships and customer lists	$	97,419	$	(60,221	)	$	37,198
Value of business acquired	20,200		(20,200		)	—
Software	12,230		(12,230		)	—
Licenses	19,414		—			19,414
Patents and intellectual property	4,500		(4,500		)	—
Covenants not-to-compete	4,030		(4,030		)	—
Trademarks and trade names	1,710		(1,356		)	354
	$	159,503	$	(102,537	)	$	56,966




	Other intangible assets
At December 31, 2017	Gross carrying value		Accumulated amortization and impairment losses			Total
Customer relationships and customer lists	$	95,458	$	(51,633	)	$	43,825
Value of business acquired	20,200		(20,200		)	—
Software	12,230		(12,230		)	—
Licenses	10,267		—			10,267
Patents and intellectual property	4,500		(4,500		)	—
Covenants not-to-compete	4,030		(4,030		)	—
Trademarks and trade names	1,710		(1,331		)	379
	$	148,395	$	(93,924	)	$	54,471

The remaining useful life of intangible assets with finite lives ranges from 2 to 15 years, with a weighted-average amortization period of 6.6 years. Expected amortization of the other intangible assets, including other intangible assets recorded in investments in other ventures, under equity method, is shown below:




	Other intangibles		Other intangible assets included in investments in other ventures, under equity method		Total
2019	$	5,446	$	2,815	$	8,261
2020	5,237		1,955		7,192
2021	4,910		1,095		6,005
2022	4,522		1,095		5,617
2023	4,093		631		4,724
2024 and thereafter	5,353		400		5,753
Total remaining amortization expense	29,561		7,991		37,552
Indefinite lived	10,267		9,147		19,414
Total	$	39,828	$	17,138	$	56,966