Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.21.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill as of March 31, 2021 and December 31, 2020 was $211.1 million. There was no change in the carrying amount of goodwill during the three months ended March 31, 2021.
Intangible assets consisted of the following as of (in thousands): 
    March 31, 2021
  Amortization
Period
Cost Accumulated
Amortization
Net
Customer Relationships
84-180 months
$ 143,101  $ 38,353  $ 104,748 
Trade Name - Indefinite lived —  13,447  —  13,447 
Total   $ 156,548  $ 38,353  $ 118,195 
 
    December 31, 2020
  Amortization
Period
Cost Accumulated
Amortization
Net
Customer Relationships
84 - 180 months
$ 143,101  $ 35,895  $ 107,206 
Trade Name - Indefinite lived —  13,447  —  13,447 
Total $ 156,548  $ 35,895  $ 120,653 
 
The Company recorded approximately $2.5 million straight-line amortization expense of intangible assets for each of the three months ended March 31, 2021 and 2020. The Company records amortization expense within general and administrative expense on the Consolidated Statement of Operations.
The estimated amortization expense related to amortizable intangible assets for each of the four succeeding fiscal years and thereafter as of March 31, 2021 is as follows (in thousands):
 
Remainder of 2021 $ 7,373 
2022 9,832 
2023 9,832 
2024 9,832 
2025 9,832 
Thereafter 58,047 
Total $ 104,748