Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

7. GOODWILL AND OTHER INTANGIBLE ASSETS

Intangible assets consist of the following (in thousands):

	September 30, 2019			December 31, 2018
Intangible assets:
Customer backlog	$	4,000		$	4,000
Trade names and trademarks		900			900
Domain names		6,327			6,327
Total intangible assets		11,227			11,227
Accumulated amortization:
Customer backlog		(4,000	)		(4,000	)
Trade name and trademarks		(900	)		(900	)
Domain names		(599	)		(285	)
Total accumulated amortization		(5,499	)		(5,185	)
Intangible assets, net	$	5,728		$	6,042

Intangible asset amounts were determined based on the estimated economics of the asset and are amortized over the estimated useful lives on a straight-line basis over 12 months for customer backlog and trade names and trademarks and 15 years for domain names, which approximates the pattern in which the economic benefits are expected to be received. The Company evaluates the recoverability of intangible assets periodically and considers events or circumstances that may warrant revised estimates of useful lives or that may indicate an impairment. In May 2018, the Company purchased certain domain names for $6.3 million. Intangible asset amortization expense for the nine months ended September 30, 2019 and 2018 was $0.3 million and $3.0 million, respectively.

The carrying amount of goodwill by reportable segment at September 30, 2019 and December 31, 2018 was $14.2 million for Trex Residential and $54.3 million for Trex Commercial.