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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | 7. Goodwill and Other Intangible Assets: The following table summarizes the changes in the carrying amount of goodwill for the six months ended June 30, 2020:
Balance at January 1, 2020 |  | $ | —
Acquisition of Interwork US and Interwork Canada |  |  | 3,857
Translation adjustments |  |  | 44
Balance June 30, 2020 |  | $ | 3,901
Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. The change in our goodwill balance during the six months ended June 30, 2020 relates to our acquisition of Interwork US and Interwork Canada, which has been allocated to the Climb Channel Solutions segment. Information related to the Company’s other intangibles, net is as follows:
|  | June 30, 2020
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Vendor relationships |  | $ | 3,868 |  | $ | 49 |  | $ | 3,819
Non-compete |  |  | 8 |  |  | 1 |  |  | 7
Total |  | $ | 3,876 |  | $ | 50 |  | $ | 3,826
Other intangibles, net was zero as of December 31, 2019. Vendor relationships are amortized between eleven to fifteen years. Non-compete is amortized over one year. During the three and six months ended June 30, 2020, the Company recognized total amortization expense for other intangibles, net of $0.1 million. There was no amortization expense for other intangibles, net during the three and six months ended June 30, 2019. Amortization expense is included in selling, general and administrative expense. Estimated future amortization expense of the Company’s other intangibles, net as of June 30, 2020 is as follows:
2020 (excluding the six months ended June 30, 2020) |  | $ | 149
2021 |  |  | 292
2022 |  |  | 290
2023 |  |  | 290
2024 |  |  | 290
Thereafter |  |  | 2,515
Total |  | $ | 3,826

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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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