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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
During the year ended December 31, 2014, the Company recorded $139.3 million of goodwill in connection with the Merger. As of December 31, 2016 and 2015, $139.3 million of goodwill is included in goodwill and other intangible assets, net, on each of the consolidated balance sheets. The Company's goodwill balance is included in the TRI Pointe Homes reporting segment in Note 4, Segment Information. For further details on goodwill, see Note 2, Merger with Weyerhaeuser Real Estate Company.
We have two intangible assets as of December 31, 2016, comprised of an existing trade name from the acquisition of Maracay Homes in 2006, which has a 20 years useful life, and a TRI Pointe Homes trade name resulting from the acquisition of WRECO in 2014, which has an indefinite useful life. For further details on the TRI Pointe Homes trade name see Note 2, Merger with Weyerhaeuser Real Estate Company.
Goodwill and other intangible assets consisted of the following (in thousands):
 
December 31, 2016
 
December 31, 2015
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Goodwill
$
139,304

 
$

 
$
139,304

 
$
139,304

 
$

 
$
139,304

Trade names
27,979

 
(5,788
)
 
22,191

 
27,979

 
(5,254
)
 
22,725

Total
$
167,283

 
$
(5,788
)
 
$
161,495

 
$
167,283

 
$
(5,254
)
 
$
162,029


 
The remaining useful life of our amortizing intangible asset related to Maracay was 9.2 and 10.2 years as of December 31, 2016 and 2015, respectively. Amortization expense related to this intangible asset was $534,000 for the year ended December 31, 2016 and 2015, respectively, and was charged to sales and marketing expense.  Our $17.3 million indefinite life intangible asset related to TRI Pointe Homes trade name is not amortizing.  All trade names are evaluated for impairment on an annual basis or more frequently if indicators of impairment exist.
Expected amortization of our intangible asset related to Maracay Homes for the next five years and thereafter is (in thousands):
2017
$
534

2018
534

2019
534

2020
534

2021
534

Thereafter
2,221

Total
$
4,891