Goodwill and Other Intangibles
|6 Months Ended|
Jun. 30, 2022
|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 Specialty 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 2021, we performed an annual assessment on our goodwill resulting in no impairment and there were no indicators of impairment for the six months ended June 30, 2022.
Changes in the carrying amount of goodwill for the six months ended June 30, 2022, by segment, were as follows, in thousands:
See Note 13 – Business Combinations for goodwill recognized on acquisitions that occurred during the quarter.
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