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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The following table presents the goodwill balance by reportable segment:
|  | Rail Products and Services |  | Construction Products |  | Tubular and Energy Services |  | Total
Balance at December 31, 2017 |  | $ | 14,638 |  |  | $ | 5,147 |  |  | $ | — |  |  | $ | 19,785 |
Foreign currency translation impact |  | 344 |  |  | — |  |  | — |  |  | 344 |
Balance at March 31, 2018 |  | $ | 14,982 |  |  | $ | 5,147 |  |  | $ | — |  |  | $ | 20,129 |
The Company performs goodwill impairment tests annually during the fourth quarter, and also performs interim goodwill impairment tests if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. Qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying amount. No goodwill impairment test was required in connection with these evaluations for the three months ended March 31, 2018. The Company continues to monitor the recoverability of the long-lived assets associated with certain reporting units of the Company and the long-term financial projections of the businesses. Sustained declines in the markets we serve may result in future long-lived asset impairment. The following table represents the gross other intangible assets balance by reportable segment:
|  | March 31, 2018 |  | December 31, 2017
Rail Products and Services |  | $ | 58,156 |  |  | $ | 57,654 |
Construction Products |  | 1,348 |  |  | 1,348 |
Tubular and Energy Services |  | 29,179 |  |  | 29,179 |
|  | $ | 88,683 |  |  | $ | 88,181 |
The components of the Company’s intangible assets are as follows:
|  | March 31, 2018
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Non-compete agreements |  | 5 |  | $ | 4,262 |  |  | $ | (3,339 | ) |  | $ | 923 |
Patents |  | 10 |  | 379 |  |  | (164 | ) |  | 215 |
Customer relationships |  | 17 |  | 38,040 |  |  | (9,893 | ) |  | 28,147 |
Trademarks and trade names |  | 14 |  | 10,114 |  |  | (4,310 | ) |  | 5,804 |
Technology |  | 14 |  | 35,888 |  |  | (14,976 | ) |  | 20,912 |
|  |  |  | $ | 88,683 |  |  | $ | (32,682 | ) |  | $ | 56,001 |
|  | December 31, 2017
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Non-compete agreements |  | 5 |  | $ | 4,238 |  |  | $ | (3,100 | ) |  | $ | 1,138 |
Patents |  | 10 |  | 389 |  |  | (164 | ) |  | 225 |
Customer relationships |  | 17 |  | 37,679 |  |  | (9,171 | ) |  | 28,508 |
Trademarks and trade names |  | 14 |  | 10,085 |  |  | (4,091 | ) |  | 5,994 |
Technology |  | 14 |  | 35,790 |  |  | (14,215 | ) |  | 21,575 |
|  |  |  | $ | 88,181 |  |  | $ | (30,741 | ) |  | $ | 57,440 |
Intangible assets are amortized over their useful lives, which range from 4 to 25 years, with a total weighted average amortization period of approximately 15 years at March 31, 2018. Amortization expense for the three months ended March 31, 2018 and 2017 was $1,785 and $1,759, respectively. Estimated amortization expense for the remainder of 2018 and thereafter is as follows:
| Amortization Expense
2018 | $ | 5,290 |
2019 | 6,367 |
2020 | 6,039 |
2021 | 6,018 |
2022 | 5,959 |
2023 and thereafter | 26,328 |
| $ | 56,001 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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