Goodwill and Intangible Assets

Goodwill represents the excess of the purchase price and related costs over the fair value of the net tangible and intangible assets of businesses acquired.

The carrying amount of our goodwill by segment is as follows:



	Building Materials Distribution			Wood Products				Total
	(thousands)
Balance at December 31, 2017	$	5,593		$	49,840			$	55,433
Additions	4,976		(a)	—				4,976
Allocation of goodwill to disposal groups	—			(1,250		)	(b)	$	(1,250	)
Balance at December 31, 2018	$	10,569		$	48,590			$	59,159

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(a)	Represents the acquisition of wholesale building material distribution locations. For additional information, see Note 8, Acquisitions.


(b)	Represents the allocation of goodwill to the disposal of two lumber mills and a particleboard plant located in Northeast Oregon and a hardwood plywood facility located in Moncure, North Carolina. For additional information, see Note 7, Sale of Manufacturing Facilities.

At December 31, 2018 and 2017, intangible assets represented the values assigned to trade names and trademarks and customer relationships. The trade names and trademarks have indefinite lives and are not amortized. The weighted-average useful life for customer relationships from the date of purchase is approximately 11 years. Amortization expense is expected to be approximately $1.0 million per year for the next five years.

Intangible assets consisted of the following:



	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(thousands)
Trade names and trademarks	$	8,900	$	—		$	8,900
Customer relationships	10,350		(2,399		)	7,951
	$	19,250	$	(2,399	)	$	16,851



	December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(thousands)
Trade names and trademarks	$	8,900	$	—		$	8,900
Customer relationships	7,650		(1,484		)	6,166
	$	16,550	$	(1,484	)	$	15,066