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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Other Intangible Assets Goodwill and Other Intangible Assets
The carrying amount of goodwill, by operating segment is as follows:
(In thousands)National Networks
International
and Other
Total
December 31, 2017$239,759  $455,399  $695,158  
Additions—  123,865  $123,865  
Amortization of "second component" goodwill(1,328) —  (1,328) 
Foreign currency translation—  (19,658) (19,658) 
December 31, 2018238,431  559,606  798,037  
Impairment charge—  (97,996) (97,996) 
Purchase accounting adjustments—  (2,414) (2,414) 
Amortization of "second component" goodwill(1,328) —  (1,328) 
Foreign currency translation—  5,681  5,681  
December 31, 2019$237,103  $464,877  $701,980  
As of December 31, 2019, the accumulated impairment charges totaled $98.0 million.
The increase in the carrying amount of goodwill in 2018 for the International and Other segment relates to the acquisitions of RLJE and Levity (see Note 7).
The reduction of $1.3 million in the carrying amount of goodwill for the National Networks is due to the realization of a tax benefit for the amortization of "second component" goodwill at SundanceTV. Second component goodwill is the amount of tax deductible goodwill in excess of goodwill for financial reporting purposes. In accordance with the authoritative guidance at the time of the SundanceTV acquisition, the tax benefits associated with this excess are applied to first reduce the amount of goodwill, and then other intangible assets for financial reporting purposes, if and when such tax benefits are realized in the Company's tax returns.
Annual Impairment Test of Goodwill
Goodwill
Goodwill is not amortized, but instead is tested for impairment at the reporting unit level annually as of December 1, or more frequently upon the occurrence of certain events or substantive changes in circumstances. The annual goodwill impairment test allows for the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If it is determined, on the basis of qualitative factors, that the fair value of a reporting unit is, more likely than not, less than its carrying value, the quantitative impairment test is required. In accordance with Accounting Standards Update 2017-04 Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, the Company recognizes goodwill impairment as the difference between the carrying amount of a reporting unit and its fair value, but not to exceed the carrying amount of goodwill.
We performed a quantitative assessment for our International Programming Networks reporting unit. The fair value was determined using a combination of an income approach, using a discounted cash flow model (DCF), and a market comparables approach. The DCF model includes significant assumptions about revenue growth rates, long-term growth rates and enterprise specific discount rates. Additionally, the market comparables approach is determined using guideline company financial multiples. Given the uncertainty in determining assumptions underlying the DCF approach, actual results may differ from those used in the valuations.
Based on the valuations performed, in response to current and expected trends across the International television broadcasting markets, the fair value of the Company's AMCNI reporting unit declined to less than its carrying amount. As a result, the Company recognized an impairment charge of $98.0 million related to the AMCNI reporting unit.
No impairment charge was required for any of the Company's other reporting units.
The determination of fair value of the Company's AMCNI reporting unit represents a Level 3 fair value measurement in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs. Changes in significant judgments and estimates could significantly impact the concluded fair value of the reporting unit or the valuation of intangible assets. Changes to assumptions that would decrease the fair value of the reporting unit would result in corresponding increases to the impairment of goodwill at the reporting unit.
The following table summarizes information relating to the Company's identifiable intangible assets:
(In thousands)December 31, 2019
Estimated
Useful Lives
Gross
Accumulated
Amortization
Net
Amortizable intangible assets:
Affiliate and customer relationships$616,197  $(232,193) $384,004  
6 to 25 years
Advertiser relationships 46,282  (21,820) 24,462  
11 years
Trade names113,075  (17,997) 95,078  
3 to 20 years
Other amortizable intangible assets2,798  (1,711) 1,087  
5 to 11 years
Total amortizable intangible assets778,352  (273,721) 504,631  
Indefinite-lived intangible assets:
Trademarks19,900  —  19,900  
Total intangible assets$798,252  $(273,721) $524,531  
(In thousands)December 31, 2018
Gross
Accumulated
Amortization
Net
Amortizable intangible assets:
Affiliate and customer relationships$620,771  $(198,500) $422,271  
Advertiser relationships 46,282  (17,613) 28,669  
Trade names118,772  (17,971) 100,801  
Other amortizable intangible assets13,643  (6,377) 7,266  
Total amortizable intangible assets799,468  (240,461) 559,007  
Indefinite-lived intangible assets:
Trademarks19,900  —  19,900  
Total intangible assets$819,368  $(240,461) $578,907  

Aggregate amortization expense for amortizable intangible assets for the years ended December 31, 2019, 2018 and 2017 was $46.2 million, $43.0 million and $47.1 million, respectively. Estimated aggregate amortization expense for intangible assets subject to amortization for each of the following five years is:
(In thousands)
Years Ending December 31, 
2020$47,016  
202146,579  
202245,937  
202345,502  
202445,432  
Impairment Test of Identifiable Indefinite-Lived Intangible Assets
Based on the Company's 2019 annual impairment test for identifiable indefinite-lived intangible assets, no impairment charge was required. The Company's indefinite-lived intangible assets relate to SundanceTV trademarks, which were valued using a relief-from-royalty method in which the expected benefits are valued by discounting estimated royalty revenue over projected revenues covered by the trademarks. In order to evaluate the sensitivity of the fair value calculations for the Company's identifiable indefinite-lived intangible assets, the Company applied a hypothetical 20% decrease to the estimated fair value of the identifiable indefinite-lived intangible assets. This hypothetical decrease in estimated fair value would not result in an impairment.
Significant judgments inherent in estimating the fair value of indefinite-lived intangible assets include the selection of appropriate discount and royalty rates, estimating the amount and timing of estimated future cash flows and identification of appropriate continuing growth rate assumptions. The discount rates used in the analysis are intended to reflect the risk inherent in the projected future cash flows generated by the respective intangible assets.