Goodwill and Intangible Assets |
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Goodwill and Intangible Assets | Note 4.—Goodwill and Intangible assets In the first quarter of 2015, the Company acquired CCM and recorded $104.6 million of goodwill and intangible assets of $33.1 million. The Company reviewed its goodwill and intangible assets for impairment at least annually as of December 31 or more frequently if facts and circumstances indicated that it is more likely than not that the fair value of a reporting unit that has goodwill was less than its carrying value. In the second and third quarters of 2018, the Company performed impairment tests and determined that the goodwill and intangible assets were impaired. As a result, an impairment charge of $74.7 million related to goodwill and $13.5 million related to intangible assets was recorded during the quarter ended June 30, 2018, and an additional $29.9 million and $4.9 million, respectively, was recorded during the quarter ended September 30, 2018. At December 31, 2019 and 2018, the Company had no goodwill or intangible assets remaining related to the CCM acquisition.
The following table presents the changes in the carrying amount of goodwill for the period indicated:
The following table presents the net carrying amount of the intangible assets acquired as part of the CCM acquisition as of December 31, 2018:
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