Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

The following table represents the goodwill balance by reportable segment:


	Rail Products and Services		Construction Products		Tubular and Energy Services		Total





Balance as of December 31, 2017:	$	14,638	$	5,147	$	—	$	19,785

Foreign currency translation impact	(527)		—		—		(527)


Balance as of December 31, 2018:	$	14,111	$	5,147	$	—	$	19,258

The components of the Company’s intangible assets are as follows as of:


	December 31, 2018
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	4	$	1,372	$	(1,046)	$	326
Patents	10	358		(165)		193
Customer relationships	18	37,129		(11,388)		25,741
Trademarks and trade names	15	8,481		(3,416)		5,065
Technology	14	35,640		(17,129)		18,511
		$	82,980	$	(33,144)	$	49,836

	December 31, 2017
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,238	$	(3,100)	$	1,138
Patents	10	389		(164)		225
Customer relationships	17	37,679		(9,171)		28,508
Trademarks and trade names	14	10,085		(4,091)		5,994
Technology	14	35,790		(14,215)		21,575
		$	88,181	$	(30,741)	$	57,440

Intangible assets are amortized over their useful lives ranging from 4 to 25 years, with a total weighted average amortization period of approximately 15 years. Amortization expense for the year ended December 31, 2018 and 2017 was $7,098 and $6,992, respectively. During the year ended December 31, 2018, certain fully amortized intangible assets of $2,830 and $1,560 related to non-compete agreements and trademarks and trade names, respectively, were eliminated from gross intangible assets and accumulated amortization.

Estimated annual amortization expense for the years ending December 31, 2019 and thereafter is as follows:


Year Ending December 31,
2019	$	6,606
2020	5,860
2021	5,831
2022	5,741
2023	5,226
2024 and thereafter	20,572
	$	49,836

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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