

8.	GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Reporting Units—In combination with the completion of the Plateau Acquisition during the fourth quarter of 2019, the Company realigned its operating segments and reporting units to reflect management’s present oversight of the business. The Company’s reporting units now consist of its heavy civil, specialty services and residential operating groups. The specialty services operating segment was added and includes the newly acquired Plateau operations and its associated goodwill. Goodwill is not amortized, but instead is reviewed for impairment at least annually during the fourth quarter of each year at the reporting level, absent any interim indicators of impairment or other factors requiring an assessment.

Annual Impairment Assessment—For our 2019 annual impairment test of the heavy civil and residential reporting units, we performed a qualitative assessment, using information as of October 1. Under current guidance, we are permitted to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. We determined there were no factors indicating the need to perform a quantitative goodwill impairment test and concluded that it is more likely than not the fair value of our reporting units is greater than their carrying value and thus there was no impairment to goodwill. Due to the proximity of the timing of the Plateau Acquisition, its purchase price and associated carrying value included in the specialty services reporting unit approximated its fair value. Other adjustments to our reporting units resulting from the realignment were not material.

In addition to our annual review, we assess the impairment of goodwill whenever events or changes in circumstances indicate that the carrying value of a reporting unit may be greater than fair value. Factors that could trigger an interim impairment review include, but are not limited to, significant adverse changes in the business climate which may be indicated by a decline in our market capitalization or decline in operating results. No impairments were recorded to our goodwill during the years ended December 31, 2019, 2018 or 2017. No such events or changes occurred between the testing date and year end to trigger a subsequent impairment review.

At December 31, 2019 and 2018, we had goodwill with a carrying amount of $191,892 and $85,231, respectively, with the increase attributable to the Plateau Acquisition. See Note 3 - Plateau Acquisition for further information regarding goodwill from the acquisition.

The following table presents goodwill by reportable segment:



	December 31, 2019		December 31, 2018
Goodwill
Heavy Civil	$	54,806	$	54,806
Specialty Services	106,661		—
Residential	30,425		30,425
Total Goodwill	$	191,892	$	85,231

Other Intangible Assets

The following table presents our acquired finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total:



		December 31, 2019					December 31, 2018
	Weighted Average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Customer relationships	25	$	232,623	$	(6,911	)	$	40,823	$	(3,159	)
Trade name	23	30,107		(1,692		)	5,307		(919		)
Non-compete agreements	5	2,487		(291		)	487		(121		)
Total	24	$	265,217	$	(8,894	)	$	46,617	$	(4,199	)

During the year ended December 31, 2019, 2018 and 2017, we have amortized approximately $4,700, $2,400, and $1,800 respectively. Amortization expense is anticipated to be approximately $11,500, $11,500, $11,300, $11,200, and $10,900 for 2020, 2021, 2022, 2023 and 2024, respectively. See Note 3 - Plateau Acquisition for further information regarding intangibles from the acquisition.