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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill During the first quarter of 2021, the Company reallocated a portion of its goodwill to the Alternative Learning segment based on a relative fair value analysis performed using several probability weighted scenarios. The following table presents changes in the carrying value of goodwill by segment for the nine months ended September 30, 2021 (in thousands):
| U.S. Higher Education |  | Australia / New Zealand |  | Alternative Learning |  | Total
Balance as of December 31, 2020 | $ | 732,075 |  |  | $ | 586,451 |  |  | $ | — |  |  | $ | 1,318,526 |
Reporting unit reallocation(1) | (100,000) |  |  | — |  |  | 100,000 |  |  | — |
Additions | — |  |  | — |  |  | — |  |  | — |
Impairments | — |  |  | — |  |  | — |  |  | — |
Currency translation adjustments | — |  |  | (38,567) |  |  | — |  |  | (38,567) |
Adjustments to prior acquisitions(2) | — |  |  | 262 |  |  | — |  |  | 262 |
Balance as of September 30, 2021 | $ | 632,075 |  |  | $ | 548,146 |  |  | $ | 100,000 |  |  | $ | 1,280,221 |
_____________________________________ (1)Represents the reallocation of goodwill as a result of the Company reorganizing its segments in the first quarter of 2021. (2)Represents a measurement period adjustment recorded in the first quarter of 2021, as discussed in Note 3. The Company assesses goodwill at least annually for impairment during 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. No events or circumstances occurred in the three and nine months ended September 30, 2021 to indicate an impairment to goodwill at any of its segments. There were no impairment charges related to goodwill recorded during the three and nine month periods ended September 30, 2020 and 2021. Intangible Assets The following table represents the balance of the Company’s intangible assets as of December 31, 2020 and September 30, 2021 (in thousands):
| December 31, 2020 |  | September 30, 2021
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Subject to amortization |  |  |  |  |  |  |  |  |  |  |
Student relationships | $ | 202,861 |  |  | $ | (135,703) |  |  | $ | 67,158 |  |  | $ | 201,052 |  |  | $ | (177,091) |  |  | $ | 23,961 |
Not subject to amortization |  |  |  |  |  |  |  |  |  |  |
Trade names | 259,262 |  |  | — |  |  | 259,262 |  |  | 254,404 |  |  | — |  |  | 254,404 |
Total | $ | 462,123 |  |  | $ | (135,703) |  |  | $ | 326,420 |  |  | $ | 455,456 |  |  | $ | (177,091) |  |  | $ | 278,365 |
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 economic benefits of the assets are consumed over their estimated useful lives. Amortization expense related to finite-lived intangible assets was $41.5 million and $41.4 million for the nine months ended September 30, 2020 and 2021, respectively. 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 during 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 indefinite-lived intangible asset below its carrying amount. No events or circumstances occurred in the three and nine months ended September 30, 2021 to indicate an impairment to indefinite-lived intangible assets. There was no impairment charge related to indefinite-lived intangible assets recorded during the three and nine months ended September 30, 2020 and 2021.

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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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