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GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2018
GOODWILL AND INTANGIBLE ASSETS  
Schedule of goodwill by reportable operating segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Total

    

ArcBest

    

FleetNet

    

 

 

(in thousands)

Balances December 31, 2016

 

$

108,875

 

$

108,245

 

$

630

 

Goodwill divested(1)

 

 

(661)

 

 

(661)

 

 

 —

 

Purchase accounting adjustments

 

 

106

 

 

106

 

 

 —

 

Balances December 31, 2018 and 2017(2)

 

$

108,320

 

$

107,690

 

$

630

 


(1)

Goodwill divested due to the sale of certain non-strategic businesses was determined based on the relative fair value of the businesses sold to the total fair value of the reporting unit.

(2)

Goodwill was not adjusted during the year ended December 31, 2018.

Schedule of intangible assets

Intangible assets consisted of the following as of December 31:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

 

 

Weighted-Average

 

 

 

 

Accumulated

 

Net

 

 

 

 

Accumulated

 

Net

 

 

    

Amortization Period

    

Cost

    

Amortization

    

Value

    

 

Cost

    

Amortization

    

Value

 

 

 

(in years)

 

(in thousands)

 

(in thousands)

 

Finite-lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

14

 

$

60,431

 

$

24,130

 

$

36,301

 

$

60,431

 

$

19,745

 

$

40,686

 

Other

 

 9

 

 

1,032

 

 

684

 

 

348

 

 

1,032

 

 

549

 

 

483

 

 

 

13

 

 

61,463

 

 

24,814

 

 

36,649

 

 

61,463

 

 

20,294

 

 

41,169

 

Indefinite-lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

N/A

 

 

32,300

 

 

N/A

 

 

32,300

 

 

32,300

 

 

N/A

 

 

32,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intangible assets

 

N/A

 

$

93,763

 

$

24,814

 

$

68,949

 

$

93,763

 

$

20,294

 

$

73,469

 

 

 

Schedule of future amortization for intangible assets and acquired software

 

 

 

 

 

 

 

 

 

 

 

 

 

    

    

 

    

Intangible

    

Acquired

 

 

 

Total

 

Assets

 

Software(1)

 

 

 

(in thousands)

 

2019

 

$

5,463

 

$

4,482

 

$

981

 

2020

 

 

4,471

 

 

4,454

 

 

17

 

2021

 

 

4,418

 

 

4,412

 

 

 6

 

2022

 

 

4,385

 

 

4,385

 

 

 —

 

2023

 

 

4,287

 

 

4,287

 

 

 —

 

Thereafter

 

 

14,629

 

 

14,629

 

 

 —

 

Total amortization

 

$

37,653

 

$

36,649

 

$

1,004

 


(1)

Acquired software is reported in property, plant and equipment.