Goodwill and Intangible Assets
|9 Months Ended|
Sep. 30, 2019
|Goodwill and Intangible Assets Disclosure [Abstract]|
|GOODWILL AND INTANGIBLE ASSETS||GOODWILL AND INTANGIBLE ASSETS
The changes in the carrying amount of goodwill were as follows:
(1) Includes accumulated impairment losses of $46.6 million.
Indefinite-Lived Intangible Assets
The carrying value of indefinite-lived intangible assets other than goodwill, which consisted solely of tradenames, was $104 million and $150 million at September 30, 2019 and December 31, 2018, respectively.
During the first quarter of 2019, the Company determined that the useful life of one of its tradenames no longer met the criteria of an indefinite-lived asset and concluded no indication of impairment. Subsequently, the Company started amortizing this tradename over 15 years, consistent with other similar finite-lived assets.
Finite-Lived Intangible Assets
Intangible assets subject to amortization were as follows:
For the three months ended September 30, 2019 and 2018, the Company recorded amortization expense on intangible assets of $28.1 million and $27.8 million, respectively. For the nine months ended September 30, 2019 and 2018, the Company recorded amortization expense on intangible assets of $84.9 million and $84.7 million, respectively.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef