Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.19.3.a.u2
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2019
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 21) for the years ended December 31, 2019 and 2018 are presented below (in thousands):
 
Infrastructure
 
Pressure Pumping
 
Sand
 
Other
 
Total
Balance as of January 1, 2018
 
 
 
 
 
 
 
 
 
Goodwill
$
891

 
$
86,043

 
$
2,684

 
$
10,193

 
$
99,811

Accumulated impairment losses
—

 
—

 
—

 
—

 
—

 
891

 
86,043

 
2,684

 
10,193

 
99,811

Acquisitions
2,937

 
—

 
—

 
1,700

 
4,637

Impairment losses(a)
—

 
—

 
—

 
(3,203
)
 
(3,203
)
Balance as of December 31, 2018
 
 
 
 
 
 
 
 

Goodwill
3,828

 
86,043

 
2,684

 
11,893

 
104,448

Accumulated impairment losses
—

 
—

 
—

 
(3,203
)
 
(3,203
)
 
3,828

 
86,043

 
2,684

 
8,690

 
101,245

Acquisitions
—

 
—

 
—

 
—

 
—

Impairment losses(a)
(434
)
 
(23,423
)
 
(2,684
)
 
(7,123
)
 
(33,664
)
Balance as of December 31, 2019
 
 
 
 
 
 
 
 
 
Goodwill
3,828

 
86,043

 
2,684

 
11,893

 
104,448

Accumulated impairment losses
(434
)
 
(23,423
)
 
(2,684
)
 
(10,326
)
 
(36,867
)
 
$
3,394

 
$
62,620

 
$
—

 
$
1,567

 
$
67,581

a.
See Note 7 for a description of impairment losses recognized.


Intangible Assets
The Company had the following definite lived intangible assets recorded as of the dates presented below (in thousands):
 
 
December 31,
 
 
2019
 
2018
Customer relationships
 
$
1,050

 
$
2,255

Trade names
 
9,063

 
9,063

Less: accumulated amortization - customer relationships
 
(467
)
 
(544
)
Less: accumulated amortization - trade names
 
(3,858
)
 
(3,018
)
Intangible assets, net
 
$
5,788

 
$
7,756


Amortization expense for intangible assets was $1.1 million, $8.7 million and $9.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. The Company recognized impairment of intangible assets totaling $0.8 million and $1.4 million, respectively, for the years ended December 31, 2019 and 2018. See Note 7 for a description of these impairment losses.
The original lives of customer relationships is 6 years and as of December 31, 2019 the remaining average useful life was 3.33 years. The original lives of trade names range from 10 to 20 years and as of December 31, 2019 the remaining average useful life was 8.26 years.
Aggregated expected amortization expense for the future periods is expected to be as follows (in thousands):
Year ended December 31:
 
Amount
2020
 
$
1,015

2021
 
1,015

2022
 
1,015

2023
 
898

2024
 
771

Thereafter
 
1,074

 
 
$
5,788