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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill. During the fourth quarters of 2019, 2018, and 2017, the Company completed its goodwill impairment test using the quantitative assessment. During the third quarter of 2018, the Company performed an interim impairment analysis after identifying indicators of impairment based on the results of the AVTE reporting unit. Based on this assessment, it was determined that all of the goodwill allocated to the AVTE reporting unit was impaired resulting in an impairment charge for the Diversified Products reporting segment of $4.9 million. Based on all other assessments performed in each of the last three years, the Company believed it was more likely than not that the fair value of its reporting units were greater than their carrying amount and no additional impairment of goodwill was recognized. For the year ended December 31, 2019, the changes in the carrying amounts of goodwill were as follows (in thousands):
| Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Total
Balance at December 31, 2017 |  |  |  |  |  |  |
Goodwill | $ | 4,288 |  |  | $ | 145,604 |  |  | $ | 169,235 |  |  | $ | 319,127 |
Accumulated impairment losses | (1,663 | ) |  | — |  |  | — |  |  | (1,663 | )
Net balance at December 31, 2017 | 2,625 |  |  | 145,604 |  |  | 169,235 |  |  | 317,464 |
Acquisition of Supreme | — |  |  | — |  |  | (1,520 | ) |  | (1,520 | )
Effects of foreign currency | — |  |  | 84 |  |  | — |  |  | 84 |
Goodwill impairments during 2018 | — |  |  | (4,944 | ) |  | — |  |  | (4,944 | )
Balance at December 31, 2018 |  |  |  |  |  |  |
Goodwill | 4,288 |  |  | 145,688 |  |  | 167,715 |  |  | 317,691 |
Accumulated impairment losses | (1,663 | ) |  | (4,944 | ) |  | — |  |  | (6,607 | )
Net balance as of December 31, 2018 | 2,625 |  |  | 140,744 |  |  | 167,715 |  |  | 311,084 |
Effects of foreign currency | — |  |  | (58 | ) |  | — |  |  | (58 | )
Impact of divestiture on goodwill | — |  |  | (4,944 | ) |  | — |  |  | (4,944 | )
Impact of divestiture on accumulated impairment losses | — |  |  | 4,944 |  |  | — |  |  | 4,944 |
Balance as of December 31, 2019 |  |  |  |  |  |  |
Goodwill | 4,288 |  |  | 140,686 |  |  | 167,715 |  |  | 312,689 |
Accumulated impairment losses | (1,663 | ) |  | — |  |  | — |  |  | (1,663 | )
Net balance as of December 31, 2019 | $ | 2,625 |  |  | $ | 140,686 |  |  | $ | 167,715 |  |  | $ | 311,026 |
Intangible Assets. As of December 31, 2019, the balances of intangible assets, other than goodwill, were as follows (in thousands):
| Weighted Average Amortization Period |  | Gross Intangible Assets |  | Accumulated Amortization |  | Net Intangible Assets
Tradenames and trademarks | 20 years |  | $ | 53,103 |  |  | $ | (17,962 | ) |  | $ | 35,141 |
Customer relationships | 13 years |  | 282,863 |  |  | (132,903 | ) |  | 149,960 |
Technology | 12 years |  | 14,045 |  |  | (9,248 | ) |  | 4,797 |
Total |  |  | $ | 350,011 |  |  | $ | (160,113 | ) |  | $ | 189,898 |
As of December 31, 2018, the balances of intangible assets, other than goodwill, were as follows (in thousands):
| Weighted Average Amortization Period |  | Gross Intangible Assets |  | Accumulated Amortization |  | Net Intangible Assets
Tradenames and trademarks | 20 years |  | $ | 53,103 |  |  | $ | (15,307 | ) |  | $ | 37,796 |
Customer relationships | 13 years |  | 282,736 |  |  | (116,222 | ) |  | 166,514 |
Technology | 12 years |  | 14,045 |  |  | (8,027 | ) |  | 6,018 |
Total |  |  | $ | 349,884 |  |  | $ | (139,556 | ) |  | $ | 210,328 |
Intangible asset amortization expense was $20.5 million, $19.5 million, and $17.0 million for 2019, 2018, and 2017, respectively. Annual intangible asset amortization expense for the next 5 fiscal years is estimated to be $21.4 million in 2020; $23.5 million in 2021; $18.1 million in 2022; $15.4 million in 2023; and $15.2 million in 2024.

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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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