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Intangible Assets
 3 Months Ended
Mar. 31, 2020
Intangible Assets  
Intangible Assets

4.    Intangible Assets

During the three months ended March 31, 2020, there were no changes in the carrying value of the Company's indefinite-lived intangible assets (goodwill and trademarks). Based upon the impact of the COVID-19 pandemic on the Company's business and results of operations, management tested its goodwill and trademarks for impairment as of March 31, 2020, and found no impairment. However, the Company can make no assurances that the goodwill or trademarks will not be impaired in the future. The Company's amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2020

 

December 31, 2019

 

 

Weighted

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

Average

 

Carrying

 

 

 

 

 

 

Carrying

 

Accumulated

 

 

 

 

    

Life (Years)

    

Amount

    

 

    

Net

    

Amount

    

Amortization

    

Net

 

 

 

 

(Dollars in thousands)

 

(Dollars in thousands)

Amortizable intangible assets

 

  

 

 

  

 

  

 

 

  

 

 

  

 

  

 

 

  

Customer relationships

 

15

 

$

3,500

 

(2,119)

 

$

1,381

 

$

3,500

 

(2,061)

 

$

1,439

Total amortizable intangible assets

 

  

 

$

3,500

 

(2,119)

 

$

1,381

 

$

3,500

 

(2,061)

 

$

1,439

 

Amortization expense related to the intangible assets was approximately $60,000 in both the first quarters of 2020 and 2019.