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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets As of December 31, 2020 and 2019, the following table represents the goodwill balance by reportable segment:
|  | Rail Technologies and Services |  | Infrastructure Solutions |  | Total
Balance as of December 31, 2018: |  | $ | 14,111 |  |  | $ | 5,147 |  |  | $ | 19,258 |
Foreign currency translation impact |  | 307 |  |  | — |  |  | 307 |
Balance as of December 31, 2019: |  | 14,418 |  |  | 5,147 |  |  | 19,565 |
Acquisitions |  | — |  |  | 450 |  |  | 450 |
Foreign currency translation impact |  | 325 |  |  | — |  |  | 325 |
Balance as of December 31, 2020: |  | $ | 14,743 |  |  | $ | 5,597 |  |  | $ | 20,340 |
As of December 31, 2020 and 2019, the components of the Company’s intangible assets were as follows:
|  | December 31, 2020
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Patents |  | 10 |  | $ | 383 |  |  | $ | (206) |  |  | $ | 177 |
Customer relationships |  | 18 |  | 36,269 |  |  | (15,914) |  |  | 20,355 |
Trademarks and trade names |  | 16 |  | 7,809 |  |  | (4,135) |  |  | 3,674 |
Technology |  | 13 |  | 35,815 |  |  | (23,124) |  |  | 12,691 |
|  |  |  | $ | 80,276 |  |  | $ | (43,379) |  |  | $ | 36,897 |
|  | December 31, 2019
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Non-compete agreements |  | 4 |  | $ | 1,272 |  |  | $ | (1,259) |  |  | $ | 13 |
Patents |  | 10 |  | 377 |  |  | (188) |  |  | 189 |
Customer relationships |  | 18 |  | 35,605 |  |  | (13,453) |  |  | 22,152 |
Trademarks and trade names |  | 16 |  | 7,787 |  |  | (3,551) |  |  | 4,236 |
Technology |  | 13 |  | 35,728 |  |  | (20,205) |  |  | 15,523 |
|  |  |  | $ | 80,769 |  |  | $ | (38,656) |  |  | $ | 42,113 |
Intangible assets are amortized over their useful lives ranging from 5 to 25 years, with a total weighted average amortization period of approximately 16 years. Amortization expense for the years ended December 31, 2020, 2019, and 2018 were $5,729, $6,445, and $6,966, respectively. During the years ended December 31, 2020 and 2019, certain fully amortized intangible assets of $1,232 and $2,830, respectively, related to non-compete agreements and for the year ended December 31, 2019 fully amortized intangible assets of $723 related to trademarks and trade names were eliminated from gross intangible assets and accumulated amortization. As a result of the sale of Test and Inspection Services during the year ended December 31, 2020, intangible assets related to customer relationships with gross carrying values of $1,893 and accumulated amortization of $587 were eliminated. Estimated annual amortization expense for the years ending December 31, 2021 and thereafter is as follows:
Year Ending December 31, |  |
2021 |  | $ | 5,856 |
2022 |  | 5,767 |
2023 |  | 5,296 |
2024 |  | 4,293 |
2025 |  | 2,458 |
2026 and thereafter |  | 13,227 |
|  | $ | 36,897 |

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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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