Goodwill and Other Intangibles
|12 Months Ended|
Dec. 31, 2019
|Goodwill and Other Intangibles|
|Goodwill and Other Intangibles||
5. GOODWILL AND OTHER INTANGIBLES
We have two reporting units which are also our operating and reporting segments: Installation and Distribution. Both reporting units contain goodwill. Assets acquired and liabilities assumed are assigned to the applicable reporting unit based on whether the acquired assets and liabilities relate to the operations of and determination of the fair value of such unit. Goodwill assigned to the reporting unit is the excess of the fair value of the acquired business over the fair value of the individual assets acquired and liabilities assumed for the reporting unit.
In the fourth quarters of 2019 and 2018, we performed annual assessments on our goodwill resulting in no impairment.
Changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018, by segment, were as follows, in thousands:
Other intangible assets, net includes customer relationships, non-compete agreements, and trademarks / trade names. The
The following table sets forth the amortization expense related to the definite-lived intangible assets during each of the next five years, in thousands:
See Note 17 – Business Combinations for breakout by major intangible asset class and their weighted average estimated useful lives.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef