INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consisted of the following as of September 30, 2021 and December 31, 2020 (in thousands):


	September 30, 2021				December 31, 2020
	Gross		Accumulated Amortization		Net		Gross		Impairment		Accumulated Amortization		Net
Goodwill	$	30,271	$	—	$	30,271	$	49,371	$	(19,100)	$	—	$	30,271
Indefinite-lived intangible assets:
Trade names	49,600		—		49,600		50,600		(1,000)		—		49,600
Finite-lived intangible assets:
Licenses	15,847		(11,084)		4,763		15,847		—		(10,742)		5,105
Trade names	51,851		(23,146)		28,705		52,030		—		(20,874)		31,156
Customer relationships	177,300		(63,270)		114,030		177,801		—		(54,008)		123,793
Other	6,567		(2,922)		3,645		6,582		—		(2,482)		4,100
Total	$	331,436	$	(100,422)	$	231,014	$	352,231	$	(20,100)	$	(88,106)	$	244,025

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, which resulted in an impairment charge of $20.1 million. 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.