Goodwill and Intangible Assets |
Note 5. Goodwill and Intangible Assets The following table presents changes in goodwill, all of which has been allocated to the GDSO segment (in thousands): | | | | | Balance at December 31, 2019 | | $ | 324,474 | | Dispositions (1) | | | (909) | | Balance at December 31, 2020 | | $ | 323,565 | |
(1) | Dispositions represent derecognition of goodwill associated with the sale and disposition of certain assets (see Note 7). |
Intangible assets consisted of the following (in thousands): | | | | | | | | | | | | | | | Gross | | | | | Net | | | | | | Carrying | | Accumulated | | Intangible | | Amortization | | | | Amount | | Amortization | | Assets | | Period | | At December 31, 2020 | | | | | | | | | | | | | Intangible assets subject to amortization: | | | | | | | | | | | | | Terminalling services | | $ | 26,365 | | $ | (17,765) | | $ | 8,600 | | 20 years | | Customer relationships | | | 43,986 | | | (42,065) | | | 1,921 | | 2-15 years | | Supply contracts | | | 87,578 | | | (62,881) | | | 24,697 | | 5-15 years | | Other intangible assets | | | 5,195 | | | (4,488) | | | 707 | | 3-20 years | | Total intangible assets | | $ | 163,124 | | $ | (127,199) | | $ | 35,925 | | | | At December 31, 2019 | | | | | | | | | | | | | Intangible assets subject to amortization: | | | | | | | | | | | | | Terminalling services | | $ | 26,365 | | $ | (16,429) | | $ | 9,936 | | 20 years | | Customer relationships | | | 43,986 | | | (41,630) | | | 2,356 | | 2-15 years | | Supply contracts | | | 87,578 | | | (54,655) | | | 32,923 | | 5-15 years | | Other intangible assets | | | 5,195 | | | (3,645) | | | 1,550 | | 3-20 years | | Total intangible assets | | $ | 163,124 | | $ | (116,359) | | $ | 46,765 | | | |
The aggregate amortization expense was approximately $10.8 million, $11.4 million and $11.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. The estimated annual intangible asset amortization expense for future years ending December 31 is as follows (in thousands): | | | | | 2021 | | $ | 10,434 | | 2022 | | | 7,200 | | 2023 | | | 6,768 | | 2024 | | | 5,101 | | 2025 | | | 2,620 | | Thereafter | | | 3,802 | | Total intangible assets | | $ | 35,925 | |
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