XML 26 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
GOODWILL AND INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill by reportable segment was as follows:
 
North America
 
Europe
 
Total
Balance as of January 1, 2017
$
76,812

 
$
32,477

 
$
109,289

Other acquisitions
199

 
4,533

 
4,732

Other acquisitions purchase accounting adjustments
(285
)
 
2,100

 
1,815

Effect of currency translation
564

 
3,131

 
3,695

Balance as of December 31, 2017
77,290

 
42,241

 
119,531

Continuum acquisition (Note 2)
26,617

 

 
26,617

Think acquisition (Note 2)

 
22,482

 
22,482

Effect of currency translation
(365
)
 
(1,433
)
 
(1,798
)
Balance as of December 31, 2018
$
103,542

 
$
63,290

 
$
166,832


Excluded from the table above is the Russia segment for which the allocated goodwill was fully impaired for the periods presented. The Russia segment had accumulated goodwill impairment losses of $2,241 as of December 31, 2018, 2017 and 2016. There were no accumulated goodwill impairment losses in the North America or Europe reportable segments as of December 31, 2018, 2017 or 2016.
Intangible assets other than goodwill as of December 31, 2018 and 2017 were as follows:
 
As of December 31, 2018
 
Weighted average life at acquisition (in years)
 
Gross carrying amount
 
Accumulated amortization
 
Net 
carrying amount
Customer relationships
9.5
 
$
78,042

 
$
(29,580
)
 
$
48,462

Favorable lease
11.2
 
5,500

 
(410
)
 
5,090

Trade names
5.3
 
6,111

 
(4,300
)
 
1,811

Contract royalties
8
 
1,900

 
(198
)
 
1,702

Total

 
$
91,553

 
$
(34,488
)
 
$
57,065

 
As of December 31, 2017
 
Weighted average life at acquisition (in years)
 
Gross carrying amount
 
Accumulated amortization
 
Net 
carrying amount
Customer relationships
10
 
$
66,646

 
$
(22,200
)
 
$
44,446

Trade names
5
 
4,099

 
(4,034
)
 
65

Total
 
 
$
70,745

 
$
(26,234
)
 
$
44,511


All of the intangible assets other than goodwill have finite lives and as such are subject to amortization. Amortization of the favorable lease asset is recognized as rent expense and included in selling, general and administrative expenses and amortization of the other intangible assets is recognized in depreciation and amortization expense in the consolidated statements of income and comprehensive income.
The following table presents amortization expense recognized for the periods indicated:
 
 
For the Years Ended December 31,
 
 
2018
 
2017
 
2016
Customer relationships
 
$
7,637

 
$
6,643

 
$
6,858

Favorable lease
 
410

 

 

Trade names
 
266

 
896

 
1,139

Contract royalties
 
198

 

 

Non-competition agreements
 

 
23

 
173

Total
 
$
8,511

 
$
7,562

 
$
8,170


The following table presents estimated amortization expense related to the Company’s existing intangible assets for the years ended December 31:
 
 
Amount
2019
 
$
9,520

2020
 
9,520

2021
 
9,520

2022
 
9,379

2023
 
8,153

Thereafter
 
10,973

Total
 
$
57,065