GOODWILL AND INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill consists of the following:

(in thousands)	Total
Balance as of September 30, 2021 and December 31, 2020	$	73,849

Intangible Assets, net

Intangible assets, net consist of the following:

	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization				Net book value
(in thousands)		September 30, 2021		December 31, 2020		September 30, 2021		December 31, 2020		September 30, 2021		December 31, 2020
Definite lived intangible assets:
Customer related intangible assets	9	$	214,307	$	214,973	$	(193,844)	$	(187,923)	$	20,463	$	27,050
Operating agreement	20	35,000		35,000		(20,417)		(19,126)		14,583		15,874
Trademarks and trade names	16	9,709		9,709		(6,612)		(6,307)		3,097		3,402
Non-compete agreements	—	—		1,230		—		(1,230)		—		—
Other intangible assets	—	—		1,800		—		(1,800)		—		—
Total		$	259,016	$	262,712	$	(220,873)	$	(216,386)	$	38,143	$	46,326

Amortization expense for definite lived intangible assets was $8.2 million and $11.3 million for the nine months ended September 30, 2021 and 2020, respectively ($2.7 million and $4.3 million for the third quarter of 2021 and 2020, respectively). Expected annual definite lived intangible asset amortization expense for 2021 through 2025 is $9.5 million, $5.1 million, $5.1 million, $5.1 million and $5.1 million, respectively.