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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure | GOODWILL AND INTANGIBLE ASSETS Goodwill The carrying amount of goodwill, both at December 31, 2020 and 2019 was $73,045,000. There was no goodwill acquired or disposed of during the years ended December 31, 2020 and 2019. We completed our most recent goodwill impairment testing during the fourth quarter of 2020 and determined that there was no impairment in the value of the asset as of December 31, 2020. The future potential impacts of COVID-19 on the operating results of our reporting units are uncertain, as we continue to monitor the global economic volatility. However, we remain committed to our strategic plan to realize our long-term forecasts. No impairment loss in the value of goodwill was recognized during the years ended December 31, 2020, 2019 and 2018. Additionally, there was no accumulated impairment related to goodwill at December 31, 2020 or 2019. Intangible Assets The following is a summary of intangible assets excluding goodwill recorded as other assets on our Consolidated Balance Sheets at:
|  | December 31, 2020 |  | December 31, 2019
Intangible assets subject to amortization |  | $ | 18,173 |  |  | $ | 22,440 |
Indefinite-lived intangible assets(1) |  | 3,757 |  |  | 3,639 |
Total |  | $ | 21,930 |  |  | $ | 26,079 |
(1) Indefinite-lived intangible assets are comprised of state insurance and agent licenses, as well as perpetual software licenses. Intangible assets subject to amortization consisted of the following:
|  | Weighted-average remaining amortization period (in years) |  | Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
2020 |  |  |  |  |  |  |  |
Value of Business Acquired |  | — |  | $ | 42,788 |  |  | $ | (42,788) |  |  | $ | — |
Agency agreements acquired |  | 6.1 |  | 34,661 |  |  | (19,116) |  |  | 15,545 |
Trade names acquired |  | 3.3 |  | 6,381 |  |  | (3,753) |  |  | 2,628 |
Total |  |  |  | $ | 83,830 |  |  | $ | (65,657) |  |  | $ | 18,173 |
2019 |  |  |  |  |  |  |  |
Value of Business Acquired |  | — |  | $ | 42,788 |  |  | $ | (42,788) |  |  | $ | — |
Agency agreements acquired |  | 6.8 |  | 34,661 |  |  | (15,658) |  |  | 19,003 |
Trade names acquired |  | 4.3 |  | 6,381 |  |  | (2,944) |  |  | 3,437 |
Total |  |  |  | $ | 83,830 |  |  | $ | (61,390) |  |  | $ | 22,440 |
No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the years ended December 31, 2020 and 2019. Amortization expense of our intangible assets was $4,267,000, $5,355,000 and $13,920,000 for the years ended December 31, 2020, 2019 and 2018, respectively. Estimated amortization expense of our intangible assets to be recognized by the Company over the next five years is as follows:
Year ending December 31, |  | Estimated Amortization Expense
2021 |  | $ | 3,555 |
2022 |  | 3,246 |
2023 |  | 3,246 |
2024 |  | 2,640 |
2025 |  | 2,438 |

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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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