Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Changes in the net carrying amount of goodwill by reporting segment (see Note 19) for the six months ended June 30, 2022 and year ended December 31, 2021 are presented below (in thousands):

Infrastructure Well Completion Sand Other Total
Balance as of January 1, 2021
Goodwill $ 891  $ 86,043  $ 2,684  $ 14,830  $ 104,448 
Accumulated impairment losses —  (76,829) (2,684) (12,327) (91,840)
891  9,214  —  2,503  12,608 
Acquisitions —  —  —  —  — 
Impairment losses (891) —  —  —  (891)
Balance as of December 31, 2021
Goodwill 891  86,043  2,684  14,830  104,448 
Accumulated impairment losses (891) (76,829) (2,684) (12,327) (92,731)
—  9,214  —  2,503  11,717 
Acquisitions —  —  —  —  — 
Impairment losses —  —  —  —  — 
Balance as of June 30, 2022
Goodwill 891  86,043  2,684  14,830  104,448 
Accumulated impairment losses (891) (76,829) (2,684) (12,327) (92,731)
$ —  $ 9,214  $ —  $ 2,503  $ 11,717 

The Company performed the qualitative assessment described above during the fourth quarter of 2021. Based on this assessment, the Company concluded that it was more likely than not that the fair value of the Stingray Pressure Pumping, Silverback and Aviation reporting units was greater than their carrying value. Accordingly, no further testing was required on these units. Additionally, the Company concluded that the carrying value for its infrastructure reporting unit was greater than its fair value. To determine fair value of the infrastructure reporting unit at December 31, 2021, the Company used the income approach. The income approach estimates the fair value based on anticipated cash flows that are discounted using a weighted average cost of capital. As a result, the Company impaired goodwill associated with 5 Star and Higher Power, resulting in a $0.9 million impairment charge for 2021. The Company did not recognize any goodwill impairment during the three and six months ended June 30, 2022.
Intangible Assets

The Company had the following definite lived intangible assets recorded (in thousands):
June 30, December 31,
2022 2021
Trade names 7,850  7,850 
Less: accumulated amortization - trade names (5,679) (5,289)
Intangible assets, net $ 2,171  $ 2,561 

Amortization expense for intangible assets was $0.2 million, and $0.4 million for the three and six months ended June 30, 2022, respectively, and $0.2 million and $0.5 million for the three and six months ended June 30, 2021, respectively. The original life of trade names ranges from 10 to 20 years as of June 30, 2022 with a remaining average useful life of 3.5 years.

Aggregated expected amortization expense for the future periods is expected to be as follows (in thousands):
Remainder of 2022 $ 389 
2023 779 
2024 711 
2025 91 
2026 91 
Thereafter 110 
$ 2,171