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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 The following table presents changes in the carrying value of goodwill by segment for the years ended December 31, 2019 and 2020 (in thousands):
| Strayer University |  | Capella University |  | Australia / New Zealand |  | Total
Balance as of December 31, 2018 | $ | 337,381 |  |  | $ | 395,159 |  |  | $ | — |  |  | $ | 732,540 |
Additions | — |  |  | — |  |  | — |  |  | — |
Impairments | — |  |  | — |  |  | — |  |  | — |
Currency translation adjustments | — |  |  | — |  |  | — |  |  | — |
Adjustments to prior acquisitions | — |  |  | (465) |  |  | — |  |  | (465) |
Balance as of December 31, 2019 | 337,381 |  |  | 394,694 |  |  | — |  |  | 732,075 |
Additions | — |  |  | — |  |  | 546,053 |  |  | 546,053 |
Impairments | — |  |  | — |  |  | — |  |  | — |
Currency translation adjustments | — |  |  | — |  |  | 40,398 |  |  | 40,398 |
Adjustments to prior acquisitions | — |  |  | — |  |  | — |  |  | — |
Balance as of December 31, 2020 | $ | 337,381 |  |  | $ | 394,694 |  |  | $ | 586,451 |  |  | $ | 1,318,526 |
During the year ended December 31, 2019, the Company recorded $0.5 million of net measurement period adjustments related to the CEC merger to goodwill, as described in Note 3. The additions to goodwill during the year ended December 31, 2020 were due to the acquisition of ANZ described in Note 3. The Company assesses goodwill at least annually for impairment on the first day of the fourth quarter, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. In 2020, the Company performed a qualitative impairment assessment of goodwill assigned to its Strayer University, Capella University, and Jack Welch Management Institute ("JWMI") reporting units using the first day of the fourth quarter of 2020 as the assessment date. The Company evaluated the likelihood of impairment by considering qualitative factors relevant to the reporting units, such as macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and any other factors that have a significant bearing on fair value. Based on the results of its qualitative impairment analysis, the Company determined that no impairment indicators existed for its reporting units as of the assessment date. There were no goodwill impairment charges recorded during the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the Company recorded a goodwill impairment charge of $13.9 million related to its NYCDA reporting unit (which is included in the Strayer University segment) based on a quantitative impairment analysis performed. The goodwill impairment charge represented the excess of the carrying value of the net assets of the NYCDA reporting unit over its estimated fair value and is included within the Impairment of intangible assets line in the consolidated statements of income (loss). Intangible Assets The following table represents the balance of the Company’s intangible assets for the years ended December 31, 2019 and 2020 (in thousands):
| December 31, 2019 |  | December 31, 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Subject to amortization |  |  |  |  |  |  |  |  |  |  |
Student relationships | $ | 166,000 |  |  | $ | (78,389) |  |  | $ | 87,611 |  |  | $ | 202,861 |  |  | $ | (135,703) |  |  | $ | 67,158 |
Not subject to amortization |  |  |  |  |  |  |  |  |  |  |
Trade names | 185,400 |  |  | — |  |  | 185,400 |  |  | 259,262 |  |  | — |  |  | 259,262 |
Total | $ | 351,400 |  |  | $ | (78,389) |  |  | $ | 273,011 |  |  | $ | 462,123 |  |  | $ | (135,703) |  |  | $ | 326,420 |
The Company’s finite-lived intangible assets are comprised of student relationships, which are being amortized on a straight-line basis over a three-year useful life. Straight-line amortization expense for finite-lived intangible assets reflects the pattern in which the assets' economic benefits are consumed over their estimated useful lives. Amortization expense related to finite-lived intangible assets was $23.1 million, $55.3 million, and $57.3 million for the years ended December 31, 2018, 2019 and 2020, respectively. The following table presents future amortization expense for finite-lived intangible assets as of December 31, 2020 (in thousands):
2021 | $ | 44,589 |
2022 | 12,310 |
2023 | 10,259 |
2024 | — |
2025 | — |
2026 and thereafter | — |
Total | $ | 67,158 |
Indefinite-lived intangible assets not subject to amortization consist of trade names. The Company assigned an indefinite useful life to its trade name intangible assets, as it is believed these assets have the ability to generate cash flows indefinitely. In addition, there are no legal, regulatory, contractual, economic, or other factors to limit the useful life of the trade name intangibles. The Company assesses indefinite-lived intangible assets at least annually for impairment on the first day of the fourth quarter, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. In 2020, the Company performed a qualitative impairment assessment related to its indefinite-lived intangible assets using the first day of the fourth quarter of 2020 as the assessment date. The Company evaluated the likelihood of impairment by considering qualitative factors, such as macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and any other factors that have a significant bearing on fair value. Based on the results of its qualitative impairment analysis, the Company determined that no impairment indicators existed for the indefinite-lived intangible assets as of the assessment date. There were no impairment charges related to indefinite-lived intangible assets recorded during the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the Company recorded an indefinite-lived intangible asset impairment charge of $5.4 million related to the NYCDA trade name based on a quantitative impairment analysis performed. The indefinite-lived intangible asset impairment charge represented the excess of the carrying value of the NYCDA trade name over its estimated fair value and is included within the Impairment of intangible assets line in the consolidated statements of income (loss).

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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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