Goodwill and Other Intangibles
|9 Months Ended|
Sep. 30, 2020
|Goodwill and Other Intangibles|
|Goodwill and Other Intangibles||
4. 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 quarter of 2019, we performed an annual assessment on our goodwill resulting in no impairment.
Changes in the carrying amount of goodwill for the nine months ended September 30, 2020 by segment, were as follows, in thousands:
See Note 13 – Business Combinations for goodwill recognized on acquisitions that occurred in the first half of 2020.
Other intangible assets, net includes customer relationships, non-compete agreements, and trademarks / trade names. The following table sets forth our other intangible assets, in thousands:
The following table sets forth our amortization expense, in thousands:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef