Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.20.2
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill as of June 30, 2020 and December 31, 2019 was $210.8 million and $198.6 million, respectively.
Intangible assets consisted of the following as of (in thousands): 
    June 30, 2020
  Amortization
Period
Cost Accumulated
Amortization
Net
Customer Relationships
84-180 months
143,371    30,997    112,374   
Trade Name - Indefinite-lived —    13,447    —    13,447   
Total   $ 156,818    $ 30,997    $ 125,821   
 
    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   
Trade Name - Indefinite-lived —    13,447    —    13,447   
Total $ 156,424    $ 29,784    $ 126,640   
 
The Company recorded approximately $2.5 million in straight-line amortization expense of intangible assets for both the three months ended June 30, 2020 and 2019 and approximately $4.9 million and $5.1 million for the six months ended June 30, 2020 and 2019, respectively. The Company records amortization expense as a general and administrative expense.
The estimated amortization expense related to amortizable intangible assets for each of the four succeeding fiscal years and thereafter as of June 30, 2020 is as follows (in thousands):
 
Remainder of 2020 $ 4,935   
2021 9,870   
2022 9,870   
2023 9,870   
2024 9,870   
Thereafter 67,959   
Total $ 112,374