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GOODWILL | 3 Months Ended
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Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL | GOODWILL Goodwill and Q1 2020 Impairment As of March 31, 2021, goodwill allocated to our Commercial Trailer Products, Diversified Products (“DPG”), and Final Mile Products (“FMP”) segments was approximately $2.6 million, $125.0 million, and $71.9 million, respectively. The Company considered whether there were any indicators of impairment during the three months ended March 31, 2021 and concluded there were none. The Company did not perform in-line with expectations during the first quarter of 2020, partially as a result of the COVID-19 pandemic. In addition, subsequent to December 31, 2019, the Company’s share price and market capitalization declined. As a result, indicators of impairment were identified and the Company performed an interim quantitative assessment as of March 31, 2020, utilizing a combination of the income and market approaches, which were weighted evenly. The results of the quantitative analysis indicated the carrying value of the FMP and Tank Trailers (which is within the DPG segment) reporting units exceeded their respective fair values and, accordingly, goodwill impairment charges of $95.8 million and $11.0 million, respectively, were recorded during the first quarter of 2020. The goodwill impairment charges, which were based on Level 3 fair value measurements, are included in Impairment and other, net in the Condensed Consolidated Statements of Operations. The changes in the carrying amounts of goodwill from December 31, 2019 through the three-month period ended March 31, 2021 were as follows (in thousands):
| Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Total
Balance at 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 |
Goodwill impairments | — |  |  | (10,971) |  |  | (95,766) |  |  | (106,737) |
Impact of divestiture on goodwill | — |  |  | (4,685) |  |  | — |  |  | $ | (4,685) |
Effects of foreign currency | — |  |  | (44) |  |  | — |  |  | (44) |
Balance at December 31, 2020 |  |  |  |  |  |  |
Goodwill | 4,288 |  |  | 135,957 |  |  | 167,715 |  |  | 307,960 |
Accumulated impairment losses | (1,663) |  |  | (10,971) |  |  | (95,766) |  |  | (108,400) |
Net balance as of December 31, 2020 | 2,625 |  |  | 124,986 |  |  | 71,949 |  |  | 199,560 |
Effects of foreign currency | — |  |  | (8) |  |  | — |  |  | (8) |
Balance at March 31, 2021 |  |  |  |  |  |  |
Goodwill | 4,288 |  |  | 135,949 |  |  | 167,715 |  |  | 307,952 |
Accumulated impairment losses | (1,663) |  |  | (10,971) |  |  | (95,766) |  |  | (108,400) |
Net balance as of March 31, 2021 | 2,625 |  |  | 124,978 |  |  | 71,949 |  |  | 199,552 |

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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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