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GOODWILL AND INTANGIBLES | 3 Months Ended
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Mar. 31, 2021
GOODWILL AND INTANGIBLES |
GOODWILL AND INTANGIBLES | 5. GOODWILL AND INTANGIBLES ​ Goodwill by segment as of March 31, 2021 and December 31, 2020 consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Ocean | ​ | ​ | ​ | ​ | ​ | ​ |
(In millions) |  | Transportation |  | Logistics |  | Total |
Goodwill | ​ | $ | 222.6 | ​ | $ | 105.2 | ​ | $ | 327.8 | ​
​ Intangible assets as of March 31, 2021 and December 31, 2020 consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​
(In millions) |  | 2021 |  | 2020 | ​
Customer Relationships: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ocean Transportation | ​ | $ | 140.6 | ​ | $ | 140.6 | ​
Logistics | ​ | ​ | 90.1 | ​ | ​ | 90.1 | ​
Total | ​ | ​ | 230.7 | ​ | ​ | 230.7 | ​
Less: Accumulated Amortization | ​ | ​ | (68.7) | ​ | ​ | (66.0) | ​
Total Customer Relationships, net | ​ | ​ | 162.0 | ​ | ​ | 164.7 | ​
Trade name – Logistics | ​ | ​ | 27.3 | ​ | ​ | 27.3 | ​
Total Intangible Assets, net | ​ | $ | 189.3 | ​ | $ | 192.0 | ​
​ The Company evaluates its goodwill and intangible assets for possible impairment in the fourth quarter, or whenever events or changes in circumstances indicate that it is more likely than not that the fair value is less than its carrying amount. The Company has reporting units within the Ocean Transportation and Logistics reportable segments. The Company considered the general economic and market conditions due to the COVID-19 pandemic and its impact on the performance of each of the Company’s reporting units. Based on the Company’s assessment of its market capitalization, future forecasts and the amount of excess of fair value over the carrying value of the reporting units in the 2020 annual impairment tests, the Company concluded that an impairment triggering event did not occur during the quarter ended March 31, 2021. ​ The Company will monitor events and changes in circumstances that could negatively impact the key assumptions used in determining the fair value, including the amount and timing of estimated future cash flows generated by the reporting units, long-term growth and discount rates, comparable company market valuations, and industry and economic trends. It is possible that future changes in such circumstances, including a more prolonged and/or severe COVID-19 pandemic, or future changes in the assumptions and estimates used in assessing the fair value of the reporting unit, could require the Company to record a non-cash impairment charge.

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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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