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

As of December 31, 2019 and 2018, 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, 2018:	$	14,111	$	5,147	$	—	$	19,258
Foreign currency translation impact	307		—		—		307
Balance as of December 31, 2019:	$	14,418	$	5,147	$	—	$	19,565

As of December 31, 2019 and 2018, the components of the Company’s intangible assets were as follows:

	December 31, 2019
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	4	$	1,272	$	(1,259)	$	13
Patents	10	377		(188)		189
Customer relationships	18	37,498		(13,945)		23,553
Trademarks and trade names	16	7,787		(3,551)		4,236
Technology	13	35,728		(20,205)		15,523
		$	82,662	$	(39,148)	$	43,514
	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

Intangible assets are amortized over their useful lives ranging from 4 to 25 years, with a total weighted average amortization period of approximately 16 years. Amortization expense for the years ended December 31, 2019 and 2018 was $6,577 and $7,098, respectively. During the years ended December 31, 2019 and 2018 certain fully amortized intangible assets of $124 and $2,830, respectively, related to non-compete agreements and $723 and $1,560, respectively, related to trademarks and trade names were eliminated from gross intangible assets and accumulated amortization.

Estimated annual amortization expense for the years ending December 31, 2020 and thereafter is as follows:

Year Ending December 31,
2020	$	5,910
2021	5,875
2022	5,791
2023	5,314
2024	4,288
2025 and thereafter	16,336
	$	43,514