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Goodwill And Intangible Assets
9 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets [Abstract]  
Goodwill And Intangible Assets

Note 7 – Goodwill and Intangible Assets



The table below summarizes goodwill by business segment as of September 30, 2019 and December 31, 2018.  







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Cinema

 

Real Estate

 

Total

Balance at December 31, 2018

 

$

14,221 

 

$

5,224 

 

$

19,445 

Change in goodwill due to a purchase of a business combination

 

 

1,225 

 

 

 —

 

 

1,225 

Foreign currency translation adjustment

 

 

(757)

 

 

 —

 

 

(757)

Balance at September 30, 2019

 

$

14,689 

 

$

5,224 

 

$

19,913 



The Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis.  Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2019. To test the impairment of goodwill, the Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. As of September 30, 2019, we were not aware that any events indicating potential impairment of goodwill had occurred.



The tables below summarize intangible assets other than goodwill, as of September 30, 2019 and December 31, 2018, respectively.







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

As of September 30, 2019

(Dollars in thousands)

 

Beneficial
Leases

 

Trade
Name

 

Other
Intangible
Assets

 

Total

Gross carrying amount

 

$

14,973 

 

$

7,258 

 

$

2,262 

 

$

24,493 

Less: Accumulated amortization

 

 

(14,388)

 

 

(5,389)

 

 

(1,109)

 

 

(20,886)

Net intangible assets other than goodwill

 

$

585 

 

$

1,869 

 

$

1,153 

 

$

3,607 







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

As of December 31, 2018

(Dollars in thousands)

 

Beneficial
Leases

 

Trade
Name

 

Other
Intangible
Assets

 

Total

Gross carrying amount

 

$

28,592 

 

$

7,254 

 

$

1,951 

 

$

37,797 

Less: Accumulated amortization

 

 

(24,145)

 

 

(5,207)

 

 

(1,076)

 

 

(30,428)

Net intangible assets other than goodwill

 

$

4,447 

 

$

2,047 

 

$

875 

 

$

7,369 



Beneficial leases were amortized over the life of the lease up to 30 years up until January 1, 2019. Under ASC 842 they are now incorporated into the relevant right-of-use asset. Trade names are amortized based on the accelerated amortization method over their estimated useful life of 30 years, and other intangible assets are amortized over their estimated useful lives of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets).  The table below summarizes the amortization expense of intangible assets for the quarter and nine months ended September 30, 2019.  







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Quarter Ended

 

Nine Months Ended



 

September 30,

 

September 30,

(Dollars in thousands)

 

2019

 

2018

 

2019

 

2018

Beneficial lease amortization

 

$

60 

 

$

284 

 

$

224 

 

$

783 

Other amortization

 

 

106 

 

 

380 

 

 

311 

 

 

285 

Total intangible assets amortization

 

$

166 

 

$

664 

 

$

535 

 

$

1,068