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GOODWILL AND INTANGIBLE ASSETS (Notes) | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill - The following table sets forth our goodwill, by segment, for the periods indicated:
|  | December 31, 2021 |  | December 31, 2020
|  | (Thousands of dollars)
Natural Gas Liquids |  | $ | 371,217 |  |  | $ | 371,217 |
Natural Gas Pipelines |  | 156,375 |  |  | 156,375 |
Total goodwill |  | $ | 527,592 |  |  | $ | 527,592 |
Impairment Charges - In 2020, we experienced a significant decline in our share price and market capitalization as the energy industry experienced historic events that led to a simultaneous demand and supply disruption. Due to the impact of these events, we tested our goodwill for impairment and concluded that the carrying value of the Natural Gas Gathering and Processing reporting unit exceeded its estimated fair value, resulting in a noncash impairment charge of $153.4 million, which is included within impairment charges in our Consolidated Statement of Income for the year ended December 31, 2020. At December 31, 2021 and 2020, we have no remaining goodwill in our Natural Gas Gathering and Processing segment. Intangible Assets - Our intangible assets relate primarily to contracts acquired through acquisitions in our Natural Gas Liquids and Natural Gas Gathering and Processing segments, which are being amortized over periods of 15 to 40 years. Amortization expense for intangible assets was $10.4 million in 2021, $10.8 million in 2020, and $11.9 million in 2019, and the aggregate amortization expense for each of the next five years is estimated to be $10.4 million. The following table reflects the gross carrying amount and accumulated amortization of intangible assets for the periods presented:
|  | December 31, 2021 |  | December 31, 2020
|  | (Thousands of dollars)
Gross intangible assets |  | $ | 381,435 |  |  | $ | 381,435 |
Accumulated amortization |  | (145,732) |  |  | (135,304) |
Net intangible assets |  | $ | 235,703 |  |  | $ | 246,131 |
Impairment Charges - In 2020 in our Natural Gas Gathering and Processing segment, we recorded noncash impairment charges to intangible assets of $19.9 million related to supply contracts associated with our natural gas processing plant in the Powder River Basin, which was also impaired. These charges are included within impairment charges in our Consolidated Statement of Income for the year ended December 31, 2020.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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