XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.20.2

Goodwill and Intangibles | 6 Months Ended
--- | ---
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | NOTE 6 - GOODWILL AND INTANGIBLES Goodwill The change in carrying amount of goodwill was as follows (in thousands):
|  | Goodwill (Gross) |  |  | Accumulated Impairment Losses |  |  | Goodwill (Net) |
January 1, 2020 |  | $ | 265,656 |  |  | $ | (70,004 | ) |  | $ | 195,652 |
Business Combinations |  |  | 4,733 |  |  |  | — |  |  |  | 4,733 |
Other |  |  | (121 | ) |  |  | — |  |  |  | (121 | )
June 30, 2020 |  | $ | 270,268 |  |  | $ | (70,004 | ) |  | $ | 200,264 |
Other changes included in the above table include minor adjustments for the allocation of certain acquisitions still under measurement. For additional information regarding changes to goodwill resulting from acquisitions, see Note 16, Business Combinations. We test goodwill for impairment annually during the fourth quarter of our fiscal year or earlier if there is an impairment indicator. We anticipate that the COVID-19 pandemic could continue to have an impact on our customers and the homebuilding industry in general, as it could result in further business interruptions (government-mandated or otherwise) and could affect, among other factors, employment levels, consumer spending and consumer confidence, which could decrease demand for homes, adversely affecting our business. As such, we considered whether impairment indicators arose through the date of filing of this Quarterly Report on Form 10-Q for our goodwill, long-lived assets and other intangible assets and concluded that no such factors exist. While we ultimately concluded that our goodwill, long-lived assets and other intangibles assets were not impaired as of June 30, 2020, we will continue to assess impairment indicators related to the impact of the COVID-19 pandemic on our business. Accumulated impairment losses included within the above table were incurred over multiple periods, with the latest impairment charge being recorded during the year ended December 31, 2010. Intangibles, net The following table provides the gross carrying amount, accumulated amortization and net book value for each major class of intangibles (in thousands):
|  | As of June 30, |  |  | As of December 31, |
|  | 2020 |  |  | 2019 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Amortized intangibles: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 173,115 |  |  | $ | 78,784 |  |  | $ | 94,331 |  |  | $ | 169,334 |  |  | $ | 69,388 |  |  | $ | 99,946 |
Covenants not-to-compete |  |  | 17,389 |  |  |  | 12,088 |  |  |  | 5,301 |  |  |  | 16,959 |  |  |  | 10,617 |  |  |  | 6,342 |
Trademarks and tradenames |  |  | 71,543 |  |  |  | 24,908 |  |  |  | 46,635 |  |  |  | 69,718 |  |  |  | 22,609 |  |  |  | 47,109 |
Backlog |  |  | 15,004 |  |  |  | 14,154 |  |  |  | 850 |  |  |  | 14,080 |  |  |  | 13,915 |  |  |  | 165 |
|  | $ | 277,051 |  |  | $ | 129,934 |  |  | $ | 147,117 |  |  | $ | 270,091 |  |  | $ | 116,529 |  |  | $ | 153,562 |
The gross carrying amount of intangibles increased approximately $7.0 million during the six months ended June 30, 2020 primarily due to business combinations. For more information, see Note 16, Business Combinations. Remaining estimated aggregate annual amortization expense is as follows (amounts, in thousands, are for the fiscal year ended):
Remainder of 2020 |  | $ | 13,268 |
2021 |  |  | 25,573 |
2022 |  |  | 24,162 |
2023 |  |  | 21,251 |
2024 |  |  | 17,736 |
Thereafter |  |  | 45,127 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration