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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2019, 2018 and 2017 are as follows:
(in thousands)
 
Trade
 
Plant Nutrient
 
Rail
 
Ethanol
 
Total
Balance at January 1, 2017
 
$
—

 
$
59,767

 
$
4,167

 
$
—

 
$
63,934

Acquisitions
 
1,171

 
—

 
—

 
—

 
1,171

Impairments
 
—

 
(59,081
)
 
—

 
—

 
(59,081
)
Balance at December 31, 2017
 
1,171

 
686

 
4,167

 
—

 
6,024

Acquisitions
 
—

 
—

 
—

 
—

 
—

Impairments
 
—

 
—

 
—

 
—

 
—

Balance at December 31, 2018
 
1,171

 
686

 
4,167

 
—

 
6,024

Acquisitions
 
126,610

 
—

 
—

 
2,726

 
129,336

Impairments
 
—

 
—

 
—

 
—

 
—

Balance at December 31, 2019
 
$
127,781

 
$
686

 
$
4,167

 
$
2,726

 
$
135,360



Goodwill for the Trade segment is $127.8 million and net of accumulated impairment losses of $46.4 million as of December 31, 2019. Goodwill for the Plant Nutrient segment is $0.7 million and net of accumulated impairment losses of $68.9 million as of December 31, 2019.

Goodwill is tested for impairment annually as of October 1, or more frequently if impairment indicators arise. The Company uses a one-step quantitative approach that compares the business enterprise value ("BEV") of each reporting unit with its carrying value. The BEV was computed based on both an income approach (discounted cash flows) and a market approach. The income approach uses a reporting unit's estimated future cash flows, discounted at the weighted average cost of capital of a hypothetical third-party buyer. The market approach estimates fair value by applying cash flow multiples to the reporting unit's operating performance. The multiples are derived from comparable publicly traded companies with similar operating and investment characteristics to the reporting unit. Any excess of the carrying value of the goodwill over the BEV will be recorded as an impairment loss. The calculation of the BEV is based on significant unobservable inputs, such as price trends, customer demand, material costs and discount rates, and are classified as Level 3 in the fair value hierarchy. No goodwill impairment charges were incurred in 2019 or 2018 as a result of our annual impairment testing.

During 2017, the Company recorded impairment charges totaling $59.1 million related to the Wholesale reporting unit with the Plant Nutrient segment. As a result, there is no remaining goodwill in the Wholesale reporting unit.

The Company's other intangible assets are as follows:
(in thousands)
Useful Life
(in years)
 
Original Cost
 
Accumulated Amortization
 
Net Book Value
December 31, 2019
 
 
 
 
 
 
 
 
 
Intangible asset class
 
 
 
 
 
 
 
 
 
  Customer list
3
to
10
 
$
131,832

 
$
33,971

 
$
97,861

  Non-compete agreements
1
to
7
 
23,813

 
12,446

 
11,367

  Supply agreement
10
to
10
 
9,060

 
6,526

 
2,534

  Technology
10
to
10
 
13,400

 
6,197

 
7,203

  Trademarks and patents
7
to
10
 
15,810

 
9,491

 
6,319

  Lease intangible
1
to
8
 
9,744

 
4,600

 
5,144

  Software
2
to
10
 
90,836

 
46,010

 
44,826

  Other
3
to
5
 
445

 
387

 
58

 
 
 
 
 
$
294,940

 
$
119,628

 
$
175,312

December 31, 2018
 
 
 
 
 
 
 
 
 
Intangible asset class
 
 
 
 
 
 
 
 
 
  Customer list
3
to
10
 
$
40,570

 
$
21,706

 
$
18,864

  Non-compete agreement
1
to
7
 
3,313

 
2,753

 
560

  Supply agreement
10
to
10
 
9,060

 
5,824

 
3,236

  Technology
10
to
10
 
13,400

 
4,857

 
8,543

  Trademarks and patents
7
to
10
 
17,985

 
7,682

 
10,303

  Lease intangible
1
to
8
 
11,564

 
3,602

 
7,962

  Software
2
to
10
 
86,723

 
37,112

 
49,611

  Other
3
to
5
 
419

 
360

 
59

 
 
 
 
 
$
183,034

 
$
83,896

 
$
99,138


 
Amortization expense for intangible assets was $35.4 million, $19.1 million and $18.1 million for 2019, 2018 and 2017, respectively. Expected future annual amortization expense for the above assets is as follows: 2020 -- $33.5 million; 2021 -- $32.1 million; 2022 -- $23.3 million; 2023 -- $22.1 million; and 2024 -- $18.8 million.

In December 2019, the Company recorded impairment charges of $2.5 million for intangibles in the Trade segment related to a frac sand non-compete agreement. The Company also recorded a $2.2 million impairment charge for brand related intangibles within the Plant Nutrient segment in the fourth quarter.