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INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS Intangible assets consisted of the following as of September 30, 2020 and December 31, 2019 (in thousands):
| September 30, 2020 |  | December 31, 2019
| Gross |  | Impairment |  | Accumulated Amortization |  | Net |  | Gross |  | Impairment |  | Accumulated Amortization |  | Net
Goodwill | $ | 49,371 |  |  | $ | (19,100) |  |  | — |  |  | $ | 30,271 |  |  | $ | 92,361 |  |  | $ | (42,990) |  |  | $ | — |  |  | $ | 49,371 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names | 58,216 |  |  | (1,000) |  |  | — |  |  | 57,216 |  |  | 58,216 |  |  | — |  |  | — |  |  | 58,216 |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Licenses | 15,847 |  |  |  |  | (10,628) |  |  | 5,219 |  |  | 15,847 |  |  |  |  | (10,287) |  |  | 5,560 |
Trade names | 43,714 |  |  |  |  | (19,605) |  |  | 24,109 |  |  | 43,986 |  |  |  |  | (17,337) |  |  | 26,649 |
Customer relationships | 175,831 |  |  |  |  | (49,685) |  |  | 126,146 |  |  | 176,602 |  |  |  |  | (40,605) |  |  | 135,997 |
Other | 6,521 |  |  |  |  | (2,302) |  |  | 4,219 |  |  | 6,546 |  |  |  |  | (1,868) |  |  | 4,678 |
Total | $ | 349,500 |  |  | $ | (20,100) |  |  | $ | (82,220) |  |  | $ | 247,180 |  |  | $ | 393,558 |  |  | $ | (42,990) |  |  | $ | (70,097) |  |  | $ | 280,471 |
In the first quarter of 2020, as a result of the economic downturn caused by the COVID-19 pandemic, the Company concluded that a triggering event had occurred and performed an interim impairment test of goodwill and certain intangible assets as of March 31, 2020. The Company performed the first quarter 2020 interim impairment test of goodwill by comparing its fair value with its carrying value. The analysis was performed by using a discounted cash flow method and market multiple method. For goodwill, the outcome of the valuation is largely dependent upon estimates made by the Company with respect to significant assumptions, including projected net sales, projected earnings before interest, tax, depreciation and amortization (“EBITDA”), terminal growth rates, and the cost of capital under the discounted cash flow method. For its indefinite-lived trade names the Company performed a quantitative impairment analysis by comparing the fair value of the indefinite-lived trade names to their respective carrying values in the first quarter of 2020. The Company values its indefinite-lived trade names using a relief-from-royalty approach, which assumes the value of the trade name is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the trade name and instead licensed the trade name from another company. Significant assumptions used in the Company’s fair value analysis included future net sales for the related brands, royalty rates, and the cost of capital. Based upon these analyses performed, the Company recognized a non-cash goodwill impairment charge of $19.1 million, and a $1.0 million non-cash impairment charge for certain of its indefinite-lived intangible assets in the U.S. segment in the first quarter of 2020. The Company has determined that as of September 30, 2020 a triggering event has not occurred which would require an interim impairment test to be performed. There are some inherent estimates and assumptions used in determining fair value of indefinite-lived intangible assets and reporting units that are outside the control of management, such as interest rates, cost of capital, tax rates, industry growth, credit ratings, foreign exchange rates, labor inflation and tariffs including the current trade negotiations with China. Accordingly, the Company may be required to perform additional impairment testing based on further deterioration of the global economic environment, disruptions to the Company’s business, declines in operating results of the Company’s reporting units and/or trade names, further sustained deterioration of the Company’s market capitalization, and other factors, which could result in impairment charges in the future. Although management cannot predict when improvements in macroeconomic conditions will occur, if consumer confidence and consumer spending decline significantly in the future or if commercial and industrial economic activity or the market capitalization experiences a sustained deterioration significantly from current levels, it is reasonably likely the Company will be required to record impairment charges in the future.

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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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