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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2021
GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS | NOTE C – GOODWILL AND INTANGIBLE ASSETS ​ Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired. Goodwill by reportable operating segment consisted of $87.7 million and $0.6 million reported in the ArcBest and FleetNet segments, respectively, at both March 31, 2021 and December 31, 2020. ​ Intangible assets consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | March 31, 2021 | ​ | December 31, 2020 |
​ | ​ | 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 | ​ | $ | 52,721 | ​ | $ | 31,429 | ​ | $ | 21,292 | ​ | $ | 52,721 | ​ | $ | 30,477 | ​ | $ | 22,244 | ​
Other | ​ | 13 | ​ | ​ | 994 | ​ | ​ | 558 | ​ | ​ | 436 | ​ | ​ | 980 | ​ | ​ | 543 | ​ | ​ | 437 | ​
​ |  | 14 | ​ |  | 53,715 | ​ |  | 31,987 | ​ |  | 21,728 | ​ | ​ | 53,701 | ​ |  | 31,020 | ​ |  | 22,681 | ​
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 | ​ | $ | 86,015 | ​ | $ | 31,987 | ​ | $ | 54,028 | ​ | $ | 86,001 | ​ | $ | 31,020 | ​ | $ | 54,981 | ​
​ ​ The future amortization for intangible assets acquired through business acquisitions as of March 31, 2021 was as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Amortization of |
​ | ​ | Intangible Assets | ​
​ | ​ | (in thousands) | ​
Remainder of 2021 | ​ | $ | 2,870 | ​
2022 | ​ |  | 3,815 | ​
2023 | ​ |  | 3,722 | ​
2024 | ​ |  | 3,689 | ​
2025 | ​ | ​ | 3,674 | ​
Thereafter | ​ | ​ | 3,958 | ​
Total amortization | ​ | $ | 21,728 | ​
​ ​

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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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