Quarterly report pursuant to Section 13 or 15(d)

Acquisitions, Goodwill and Other Intangible Assets (Tables)

v3.20.1
Acquisitions, Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2020
Business Combinations [Abstract]  
Summary of Goodwill and Intangible Assets, Net
Goodwill and intangible assets, net consisted of the following (in thousands):
 
March 31, 2020
   
December 31, 2019
 
 
Gross
Carrying
Amount
   
Accumulated
Amortization
   
Net Book
Value
   
Gross
Carrying
Amount
   
Accumulated
Amortization
   
Net Book
Value
 
Goodwill and intangible assets:
   
     
     
     
     
     
 
Goodwill
(1)
   $
19,062
    $
—
     $
19,062
    $
15,072
    $
—
     $
15,072
 
Intangible assets
(2)
    
14,851
     
(2,659
 )    
12,192
     
9,050
     
(1,810
 )    
7,240
 
                                                 
  $
33,913
    $
(2,659
 )   $
31,254
    $
24,122
    $
(1,810
 )   $
22,312
 
                                                 

(1)
Represents additions from acquisitions.
(2)
Total weighted average amortization period was 5.00 years and 4.37 years as of March 31, 2020 and December 31, 2019, respectively.
Summary of Changes in Carrying Carrying Amount of Goodwill
The changes in the carrying amount of goodwill consisted of the following (in thousands):
 
Three Months Ended
March 31,
 
 
2020
   
2019
 
Beginning balance
  $
 
15,072
    $
 
11,459
 
Additions from acquisitions
   
3,990
     
—  
  
Impairment losses
   
—  
      
—  
  
                 
Ending balance
  $
19,062
    $
11,459
 
                 
Schedule of Estimated Amortization Expense for Intangible Assets
Estimated amortization expense for intangible assets by year for the next five years and thereafter consisted of the following (in thousands):
 
March 31, 2020
 
Remainder of 2020
  $
2,589
  
2021
   
2,594
  
2022
   
2,212
  
2023
   
2,209
  
2024
   
1,622
  
Thereafter
   
966
  
         
  $
12,192