(table only in thousands)	Energy Solutions segment			Industrial Solutions segment		Fluid Handling segment			Totals
Balance of goodwill at December 31, 2017	$	97,621		$	23,436	$	45,894		$	166,951
Divestitures		—			—		(14,317	)		(14,317	)
Foreign currency translation		(478	)		—		—			(478	)
Balance of goodwill at December 31, 2018		97,143			23,436		31,577			152,156
Foreign currency translation		(136	)		—		—			(136	)
Balance of goodwill at December 31, 2019	$	97,007		$	23,436	$	31,577		$	152,020

As of December 31, 2019 and 2018, the Company has an aggregate amount of goodwill acquired of $212.8 million and an aggregate amount of impairment losses of $60.7 million.

The Company’s indefinite lived intangible assets as of December 31, 2019 and 2018 consisted of the following:

	Tradenames
(table only in thousands)	2019			2018
Balance beginning of year	$	18,258		$	19,691
Transfer to finite life classification		(3,904	)		—
Divestitures		—			(1,340	)
Foreign currency adjustments		(63	)		(93	)
Balance end of year	$	14,291		$	18,258

During 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 completes an annual (or more often if circumstances require) impairment assessment of its goodwill and indefinite life intangible assets on October 1 at the reporting unit level.

The Company bases its measurement of the fair value of a reporting unit using a 50/50 weighting of the income method and the market method. The income method is based on a discounted future cash flow approach that uses the significant assumptions of projected revenue, projected operational profit, terminal growth rates, and the cost of capital. Projected revenue and operational profit, and terminal growth rates were determined to be significant assumptions because they are three primary drivers of the projected cash flows in the discounted future cash flow approach. Cost of capital was also determined to be a significant assumption as it is the discount rate used to calculate the current fair value of those projected cash flows. The market method is based on financial multiples of comparable companies and applies a control premium. Significant estimates in the market approach include identifying similar companies with comparable business factors such as size, growth, profitability, risk and return on investment and assessing comparable revenue and operating income multiples in estimating the fair value of a reporting unit. Based on this analysis, the estimated fair value of all of our reporting units exceeded their carrying value as of October 1, 2019. There was no goodwill impairment in 2019 and 2018. There was goodwill impairment of $4.4 million in 2017.

The Company also performed an impairment analysis for all reporting units with indefinite life intangible assets as of October 1, 2019. The Company based its measurement of the fair value of the indefinite life intangible assets utilizing the relief from royalty method. The significant assumptions used under the relief from royalty method are projected revenue, royalty rates, terminal growth rates, and the cost of capital. Projected revenue, royalty rates and terminal growth rates were determined to be significant assumptions because they are three primary drivers of the projected royalty cash flows in the relief from royalty method. Cost of capital was also determined to be a significant assumption as it is the discount rate used to calculate the current fair value of those projected royalty cash flows. Changes in any of the significant assumptions used can materially affect the expected cash flows, and such impacts can result in material non-cash impairment charges. Under this approach, the estimated fair value of the indefinite life intangible assets exceeded their carrying value for all reporting units as of the testing date.

There was no impairment charge in 2019 and 2018. During the annual impairment test of indefinite life intangible assets in 2017, the carrying values of four reporting units’ indefinite life intangible assets exceeded their fair values. The Company recorded a $2.7 million impairment charge in 2017.

As described above, the fair value measurement methods used in the Company’s goodwill and indefinite life intangible assets impairment analyses utilizes a number of significant unobservable inputs or Level 3 assumptions. These assumptions include, among others, projections of our future operating results, the implied fair value of these assets using an income approach by preparing a discounted cash flow analysis and other subjective assumptions.

	December 31,
	2019						2018
(table only in thousands) Intangible assets – finite life	Cost			Accum. Amort.			Cost			Accum. Amort.
Technology	$	14,457		$	10,686		$	14,457		$	9,414
Customer lists		68,943			44,484			68,943			37,873
Noncompetition agreements		910			910			910			762
Tradenames		5,294			1,154			1,390			579
Foreign currency adjustments		(1,869	)		(782	)		(1,520	)		(407	)
Total finite life intangible assets	$	87,735		$	56,452		$	84,180		$	48,221

Amortization expense of finite life intangible assets was $8.5 million, $9.6 million and $11.5 million for 2019, 2018 and 2017, respectively. Amortization over the next five years for finite life intangibles is $6.8 million in 2020, $5.7 million in 2021, $4.8 million in 2022, $4.0 million in 2023, and $3.4 million in 2024.