Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

4. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and other intangible assets are reviewed for impairment annually, or more frequently if certain indicators arise. The annual review includes reassessment of the useful lives of previously recognized intangible assets.

During the fourth quarter in each of 2018, 2017 and 2016, the Company performed the annual test for impairment of its reporting units, concluding there was no impairment of goodwill. The annual test of goodwill was conducted according to recently released guidance set out in ASU 2017-04, Intangibles-Goodwill and Other (See Note 2, “New Accounting Standards”). The following table summarizes goodwill activity for the three years in the period ended December 31, 2018 (in millions):

			Accumulated			Goodwill,
	Goodwill		Impairments			Net
Balance at January 1, 2016	$	18.1	$	(11.8	)	$	6.3
Addition in 2016		3.2		—			3.2
Balance at December 31, 2016		21.3		(11.8	)		9.5
No activity in 2017		—		—			—
Balance at December 31, 2017		21.3		(11.8	)		9.5
No activity in 2018		—		—			—
Balance at December 31, 2018	$	21.3	$	(11.8	)	$	9.5

Information regarding the Company’s other amortizable intangible assets is as follows (in millions):

					Accumulated
	Cost				Amortization
	2018		2017		2018		2017
Customer relationships	$	4.9	$	4.9	$	1.8	$	1.5
Trademarks		1.6		1.6		0.9		0.5
Other		1.6		1.6		1.5		0.9
Total amortizable intangible assets ⁽¹⁾	$	8.1	$	8.1	$	4.2	$	2.9

⁽¹⁾

Amortizable intangible assets are included in “Other Assets.”

Customer relationships are amortized over 15 to 16 years. Trademarks are amortized over five years and other intangibles are amortized over three years. The Company recorded amortization expense of $1.2 million, $1.2 million and $0.9 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Estimated intangible asset amortization expense, by year in the aggregate, consists of the following at December 31, 2018:

	Amortization
2019	$	0.8
2020		0.6
2021		0.3
2022		0.2
2023		0.2
Thereafter		1.8
Total	$	3.9