XML 26 R12.htm IDEA: XBRL DOCUMENT
v3.21.2

Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill The carrying amount of goodwill, both at June 30, 2021 and December 31, 2020, was $73,045,000. There was no goodwill acquired or disposed of during the three or six-month periods ended June 30, 2021 and 2020. 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. No impairment loss in the value of goodwill was recognized during the three or six-month periods ended June 30, 2021 and 2020. Additionally, there was no accumulated impairment related to goodwill at June 30, 2021 or December 31, 2020. Intangible Assets The following is a summary of intangible assets excluding goodwill recorded as intangible assets on our Unaudited Condensed Consolidated Balance Sheets:
|  | June 30, 2021 |  | December 31, 2020
Intangible assets subject to amortization |  | $ | 16,241 |  |  | $ | 18,173 |
Indefinite-lived intangible assets(1) |  | 3,757 |  |  | 3,757 |
Total |  | $ | 19,998 |  |  | $ | 21,930 |
(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
June 30, 2021 |  |  |  |  |  |  |  |
Value of business acquired |  | — |  | $ | 42,788 |  |  | $ | (42,788) |  |  | $ | — |
Agency agreements acquired |  | 5.8 |  | 34,661 |  |  | (20,644) |  |  | 14,017 |
Trade names acquired |  | 2.8 |  | 6,381 |  |  | (4,157) |  |  | 2,224 |
Total |  |  |  | $ | 83,830 |  |  | $ | (67,589) |  |  | $ | 16,241 |
December 31, 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 |
No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the three and six months ended June 30, 2021 and 2020. Amortization expense of our intangible assets was $889,000 and $1,044,000 for the three-months ended June 30, 2021 and 2020, respectively. Amortization expense of our intangible assets was $1,932,000 and $2,181,000 for the six-months ended June 30, 2021 and 2020, respectively. Estimated amortization expense of our intangible assets to be recognized by the Company during the remainder of 2021 and over the next five years is as follows:
Year ending December 31, |  | Estimated Amortization Expense
Remaining in 2021 |  | $ | 1,623 |
2022 |  | 3,246 |
2023 |  | 3,246 |
2024 |  | 2,640 |
2025 |  | 2,438 |
2026 |  | 2,438 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration