Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

6.	Goodwill and Intangible Assets

(table only in thousands)	Nine months ended September 30, 2019						Year ended December 31, 2018
Goodwill / Tradename	Goodwill			Tradename			Goodwill			Tradename
Beginning balance	$	152,156		$	18,258		$	166,951		$	19,691
Transfers to finite life classification		—			(3,904	)		—			—
Divestitures		—			—			(14,317	)		(1,340	)
Foreign currency translation		(187	)		(74	)		(478	)		(93	)
	$	151,969		$	14,280		$	152,156		$	18,258

(table only in thousands)	As of September 30, 2019						As of December 31, 2018
Intangible assets – finite life	Cost			Accum. Amort.			Cost			Accum. Amort.
Technology	$	14,457		$	10,352		$	14,457		$	9,414
Customer lists		68,943			42,795			68,943			37,873
Noncompetition agreements		910			875			910			762
Tradename		5,294			996			1,390			579
Foreign currency adjustments		(1,961	)		(627	)		(1,520	)		(407	)
	$	87,643		$	54,391		$	84,180		$	48,221

Activity for the nine-months ended September 30, 2019 and 2018 is as follows:

(table only in thousands)	2019			2018
Intangible assets – finite life, net at beginning of period	$	35,959		$	49,956
Amortization expense		(6,479	)		(7,355	)
Divestitures		—			(4,083	)
Transfers from indefinite life classification		3,904			—
Foreign currency adjustments		(132	)		30
Intangible assets – finite life, net at end of period	$	33,252		$	38,548

Amortization expense of finite life intangible assets was $2.2 million and $2.3 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $6.5 million and $7.4 million for each of the nine-month periods ended September 30, 2019 and 2018. Amortization over the next five years for finite life intangibles is expected to be $1.9 million for the remainder of 2019, $6.8 million in 2020, $5.7 million in 2021, $4.8 million in 2022, and $4.0 million in 2023.

During the nine-month period ended September 30, 2019, the Company reassessed the useful lives of certain tradenames and determined that $3.9 million of their tradenames would have useful lives of 10 years now versus indefinite. The Company did not identify any triggering events during the three-month period ended September 30, 2019 that would require an interim impairment assessment of goodwill or intangible assets.