Trade Names/Trademarks and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Trade Names/Trademarks and Other Intangible Assets, Net

10. TRADE NAMES/TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET

2017 Interim Impairment Test – Due to financial performance particularly late in the second quarter of 2017 at the Company’s SeaWorld San Diego and Orlando parks, the Company determined a triggering event occurred that required an interim impairment test for certain trade names/trademarks with a combined balance of $93.0 million related to the SeaWorld brand.  Based on its assessment, the Company calculated that the estimated fair value of the trade names/trademarks exceeded their carrying values.  As a result, the Company determined there was no impairment as the estimated fair values of these trade names/trademarks were in excess of their carrying values.

Annual Impairment Test – The Company conducted a qualitative assessment for its other indefinite-lived intangible assets at December 1, 2018 and concluded that it was more-likely-than-not that the trade names/trademarks were not impaired. The Company also conducted either a qualitative or a quantitative assessment for its other indefinite-lived intangible assets at December 1, 2017 and 2016, and concluded that it was more-likely-than-not that the trade names/trademarks were not impaired.

Trade names/trademarks, net, at December 31, 2018, consisted of the following:

	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
		(In thousands)
Trade names/trademarks - indefinite lives		$	157,000	$	—	$	157,000
Trade names/trademarks- finite lives	9.3 years		12,900		11,557		1,343
Total trade names/trademarks, net		$	169,900	$	11,557	$	158,343

Trade names/trademarks, net, at December 31, 2017, consisted of the following:

	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
		(In thousands)
Trade names/trademarks - indefinite lives		$	157,000	$	—	$	157,000
Trade names/trademarks- finite lives	9.3 years		12,900		10,098		2,802
Total trade names/trademarks, net		$	169,900	$	10,098	$	159,802

Other intangible assets, net, at December 31, 2018, consisted of the following:

	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
		(In thousands)
Favorable lease asset	39 years	$	18,200	$	4,200	$	14,000
Reseller agreements	8.1 years		22,300		22,300		—
Non-compete agreement	5 years		500		500		—
Other intangible assets - indefinite lives			120		—		120
Total other intangible assets, net		$	41,120	$	27,000	$	14,120

Other intangible assets, net, at December 31, 2017, consisted of the following:

	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
		(In thousands)
Favorable lease asset	39 years	$	18,200	$	3,734	$	14,466
Reseller agreements	8.1 years		22,300		22,032		268
Non-compete agreement	5 years		500		458		42
Other intangible assets - indefinite lives			120		—		120
Total other intangible assets, net		$	41,120	$	26,224	$	14,896

Total amortization expense was approximately $2.2 million, $4.6 million and $4.8 million for the years ended December 31, 2018, 2017 and 2016, respectively.  The total weighted average amortization period of all finite-lived intangibles is 18.8 years.

Total expected amortization expense of the finite-lived intangible assets for the succeeding five years and thereafter is as follows:

Years Ending December 31	(In thousands)
2019	$	1,849
2020		467
2021		467
2022		467
2023		467
Thereafter		11,626
	$	15,343