GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in goodwill

Changes in goodwill during the years ended December 31, 2019 and 2018 are summarized below:

(in thousands)	Total
Balance as of January 1, 2018	$	86,283
Disposition (1)	(2,256		)
Write-off (2)	(2,640		)
Balance as of December 31, 2018	81,387
Disposition (1)	(2,378		)
Write-off (2)	(5,160		)
Balance as of December 31, 2019	$	73,849

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⁽¹⁾  During 2018, goodwill was reduced by $2.3 million in connection with the sale of the rental property management business to RESI (see Note 4). During 2019, the Company sold the Financial Services Business (see Note 4) which had $2.4 million of goodwill attributed to it.

⁽²⁾  During 2018, we recorded a $2.6 million write-off of goodwill attributable to the BRS business, as a result of our decision to discontinue the BRS business in the fourth quarter of 2018 (see Note 8). During 2019, we recorded a $5.2 million write-off of goodwill attributable to the Owners.com business, as a result of our decision to wind down and close the business (see Note 8).

Schedule of intangible assets, net

Intangible assets, net consist of the following as of December 31:

	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization						Net book value
(in thousands)		2019		2018		2019			2018			2019		2018
Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	273,172	$	(176,043	)	$	(207,639	)	$	38,930	$	65,533
Operating agreement	20	35,000		35,000		(17,376		)	(15,632		)	17,624		19,368
Trademarks and trade names	16	9,709		11,349		(5,893		)	(6,244		)	3,816		5,105
Non-compete agreements	4	1,230		1,230		(1,215		)	(1,026		)	15		204
Intellectual property	10	300		300		(175		)	(145		)	125		155
Other intangible assets	5	3,745		3,745		(3,209		)	(2,457		)	536		1,288
Total		$	264,957	$	324,796	$	(203,911	)	$	(233,143	)	$	61,046	$	91,653