GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

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.