Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.20.4
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
As a result of the acquisition of HLI - Oncology in January 2020, the Company recorded $12.5 million in goodwill, including amounts for measurement period and other adjustments. See Note 6. Acquisition, for further information regarding the HLI - Oncology acquisition.

The following table summarizes the changes in goodwill as of December 31, 2020 and 2019 (in thousands):

December 31,
2020 2019
Balance, beginning of year $ 198,601  $ 197,892 
Goodwill acquired 12,482  — 
Purchase price adjustment —  709 
Balance, end of year $ 211,083  $ 198,601 

The following table summarizes the allocation of goodwill by segment as of December 31, 2020 and 2019 (in thousands):
Clinical Services
2020
Pharma Services
2020
Total 2020 Clinical Services
2019
Pharma Services
2019
Total 2019
Goodwill $ 179,534  $ 31,549  $ 211,083  $ 179,534  $ 19,067  $ 198,601 

Intangible assets consisted of the following (in thousands): 
 
    December 31, 2020
 
Amortization
Period
Cost
Accumulated
Amortization
Net
Customer Relationships
84-180 months
143,101  35,895  107,206 
Trademark - Indefinite lived —  13,447  —  13,447 
Total $ 156,548  $ 35,895  $ 120,653 
December 31, 2019
Amortization
Period
Cost
Accumulated
Amortization
Net
Trade Name
12-24 months
$ 3,679  $ 3,679  $ — 
Non-Compete Agreement 24 months 27  27  — 
Customer Relationships 180 months 139,271  26,078  113,193 
Trademark - Indefinite lived —  13,447  —  13,447 
Total $ 156,424  $ 29,784  $ 126,640 
The Company recorded amortization expense of intangible assets within general and administrative expenses on the Consolidated Statements of Operations as follows (in thousands):
  For the Years Ended December 31,
  2020 2019 2018
Amortization of intangible assets $ 9,817  $ 9,925  $ 5,928 

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of December 31, 2020 is as follows (in thousands):
 
For the Years Ending December 31,
2021 $ 9,832 
2022 9,832 
2023 9,832 
2024 9,832 
2025 9,832 
Thereafter 58,046 
Total $ 107,206