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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2019
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 as of December 31, 2018 |  | $ | 14,111 |  | $ | 5,147 |  | $ | — |  | $ | 19,258
Foreign currency translation impact |  | (39) |  | — |  | — |  | (39)
Balance as of June 30, 2019 |  | $ | 14,072 |  | $ | 5,147 |  | $ | — |  | $ | 19,219
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 interim goodwill impairment test was required in connection with the evaluation of qualitative factors as of June 30, 2019. The components of the Company’s intangible assets were as follows:
|  | June 30, 2019 |  |  |  |  |  |
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Non-compete agreements |  | 4 |  | $ | 1,245 |  | $ | (1,082) |  | $ | 163
Patents |  | 10 |  | 374 |  | (179) |  | 195
Customer relationships |  | 18 |  | 37,093 |  | (12,561) |  | 24,532
Trademarks and trade names |  | 15 |  | 8,478 |  | (3,883) |  | 4,595
Technology |  | 14 |  | 35,631 |  | (18,679) |  | 16,952
|  |  |  | $ | 82,821 |  | $ | (36,384) |  | $ | 46,437
|  | December 31, 2018 |  |  |  |  |  |
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Non-compete agreements |  | 4 |  | $ | 1,372 |  | $ | (1,046) |  | $ | 326
Patents |  | 10 |  | 358 |  | (165) |  | 193
Customer relationships |  | 18 |  | 37,129 |  | (11,388) |  | 25,741
Trademarks and trade names |  | 15 |  | 8,481 |  | (3,416) |  | 5,065
Technology |  | 14 |  | 35,640 |  | (17,129) |  | 18,511
|  |  |  | $ | 82,980 |  | $ | (33,144) |  | $ | 49,836
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 as of June 30, 2019. Amortization expense was $1,679 and $1,775 for the three months ended June 30, 2019 and 2018, respectively, and $3,391 and $3,560 for the six months ended June 30, 2019 and 2018, respectively. During the three and six months ended June 30, 2019, certain fully amortized intangible assets related to non-compete agreements of $124 were eliminated from gross intangible assets and accumulated amortization. As of June 30, 2019, estimated amortization expense for the remainder of 2019 and thereafter was as follows:
| Amortization Expense
Remainder of 2019 | $ | 3,215
2020 | 5,856
2021 | 5,821
2022 | 5,738
2023 | 5,242
2024 and thereafter | 20,565
| $ | 46,437

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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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