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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 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, 2020 and 2019 |  | $ | 11,792 |  |  | $ | 48,590 |  |  | $ | 60,382 |
At December 31, 2020 and 2019, 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 10 years. Amortization expense is expected to be approximately $1.2 million per year for the next five years. Intangible assets consisted of the following:
|  | December 31, 2020
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
|  | (thousands)
Trade names and trademarks |  | $ | 8,900 |  |  | $ | — |  |  | $ | 8,900 |
Customer relationships |  | 12,450 |  |  | (4,776) |  |  | 7,674 |
|  | $ | 21,350 |  |  | $ | (4,776) |  |  | $ | 16,574 |
|  | December 31, 2019
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
|  | (thousands)
Trade names and trademarks |  | $ | 8,900 |  |  | $ | — |  |  | $ | 8,900 |
Customer relationships |  | 12,450 |  |  | (3,553) |  |  | 8,897 |
|  | $ | 21,350 |  |  | $ | (3,553) |  |  | $ | 17,797 |

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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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