Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

As of December 31, 2020 and 2019, the following table represents the goodwill balance by reportable segment:

	Rail Technologies and Services		Infrastructure Solutions		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
Acquisitions	—		450		450
Foreign currency translation impact	325		—		325
Balance as of December 31, 2020:	$	14,743	$	5,597	$	20,340

As of December 31, 2020 and 2019, the components of the Company’s intangible assets were as follows:

	December 31, 2020
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Patents	10	$	383	$	(206)	$	177
Customer relationships	18	36,269		(15,914)		20,355
Trademarks and trade names	16	7,809		(4,135)		3,674
Technology	13	35,815		(23,124)		12,691
		$	80,276	$	(43,379)	$	36,897
	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	35,605		(13,453)		22,152
Trademarks and trade names	16	7,787		(3,551)		4,236
Technology	13	35,728		(20,205)		15,523
		$	80,769	$	(38,656)	$	42,113

Intangible assets are amortized over their useful lives ranging from 5 to 25 years, with a total weighted average amortization period of approximately 16 years. Amortization expense for the years ended December 31, 2020, 2019, and 2018 were $5,729, $6,445, and $6,966, respectively. During the years ended December 31, 2020 and 2019, certain fully amortized intangible assets of $1,232 and $2,830, respectively, related to non-compete agreements and for the year ended December 31, 2019 fully amortized intangible assets of $723 related to trademarks and trade names were eliminated from gross intangible assets and accumulated amortization. As a result of the sale of Test and Inspection Services during the year ended December 31, 2020, intangible assets related to customer relationships with gross carrying values of $1,893 and accumulated amortization of $587 were eliminated.

Estimated annual amortization expense for the years ending December 31, 2021 and thereafter is as follows:

Year Ending December 31,
2021	$	5,856
2022	5,767
2023	5,296
2024	4,293
2025	2,458
2026 and thereafter	13,227
	$	36,897