Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Note 4 ̶ Goodwill and intangible assets

Information regarding the Company’s goodwill and intangible assets as of September 30, 2017, is as follows (in thousands):

	Estimated useful life	Gross carrying amount		Accumulated amortization			Net carrying amount
Customer relationships – retailers	10 years	$	68,800	$	(25,227	)	$	43,573
Customer relationships – e-commerce	3 years		3,900		(3,867	)		33
Favorable leases, net	Varies		580		(350	)		230
Total finite-lived intangibles			73,280		(29,444	)		43,836
Trademarks	Indefinite		63,800		-			63,800
Goodwill			157,264		-			157,264
Total goodwill and other intangibles		$	294,344	$	(29,444	)	$	264,900

Information regarding the Company’s goodwill and intangible assets as of December 31, 2016, is as follows (in thousands):

	Estimated useful life	Gross carrying amount		Accumulated amortization			Net carrying amount
Customer relationships – retailers	10 years	$	68,800	$	(20,067	)	$	48,733
Customer relationships – e-commerce	3 years		3,900		(3,736	)		164
Favorable leases, net	Varies		580		(274	)		306
Total finite-lived intangibles			73,280		(24,077	)		49,203
Trademarks	Indefinite		63,800		-			63,800
Goodwill			157,264		-			157,264
Total goodwill and other intangibles		$	294,344	$	(24,077	)	$	270,267

Amortization expense related to intangible assets was $1.7 million and $5.4 million in the three and nine months ended September 30, 2017, respectively, and $2.1 million and $6.2 million in the three and nine months ended September 30, 2016, respectively. Trademark assets have been classified as indefinite-lived intangible assets and accordingly, are not subject to amortization.

Future amortization expense for intangible assets as of September 30, 2017 is as follows (in thousands):

Remainder of 2017	$	1,754
2018		7,007
2019		6,982
2020		6,880
2021		6,880
Thereafter		14,333
Total	$	43,836

No impairments of goodwill or intangible assets were recorded in the nine months ended September 30, 2017 and 2016.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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