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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Cost in Excess of Net Assets of Companies Acquired and Intangible Assets, Net Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.

During the second quarter of 2019, as a result of the company's downward revision of forecasted future earnings and the decision to wind down the company's personal computer and mobility asset disposition business, the company determined that it was more likely than not that an impairment may exist within the Americas components and Asia-Pacific components reporting units. The company evaluated its other four reporting units and concluded an interim impairment analysis was not required based on the
results of those reporting units and historical levels of headroom in each of those reporting units. The interim goodwill impairment analysis resulted in a partial goodwill impairment charge of $509,000 ($457,806 net of tax) with approximately $600,000 of goodwill remaining within the Americas components reporting unit and a full impairment charge of $61,175 ($61,175 net of tax) within the Asia-Pacific reporting unit.
As of the first day of the fourth quarters of 2019, 2018, and 2017, the company's annual impairment testing did not result in any additional impairment of goodwill of companies acquired.

Goodwill of companies acquired, allocated to the company's business segments, is as follows:

 
 
Global
Components
 
Global ECS
 
Total
Balance as of December 31, 2017 (a)
 
$
1,264,869

 
$
1,205,178

 
$
2,470,047

Acquisitions
 
197,126

 
14,175

 
211,301

Foreign currency translation adjustment
 
(24,494
)
 
(32,164
)
 
(56,658
)
Balance as of December 31, 2018 (a)
 
$
1,437,501

 
$
1,187,189

 
$
2,624,690

Impairments and dispositions

 
(570,175
)
 
(1,386
)
 
(571,561
)
Foreign currency translation adjustment
 
16,170

 
(7,977
)
 
8,193

Balance as of December 31, 2019 (b)
 
$
883,496

 
$
1,177,826

 
$
2,061,322



(a)
The total carrying value of goodwill of companies acquired as of December 31, 2018 and December 31, 2017 in the table above is reflected net of $1,018,780 of accumulated impairment charges, of which $716,925 was recorded in the global components business segment and $301,855 was recorded in the global ECS business segment.
(b)
The total carrying value of goodwill of companies acquired as of December 31, 2019 in the table above is reflected net of $1,588,955 of accumulated impairment charges, of which $1,287,100 was recorded in the global components business segment and $301,855 was recorded in the global ECS business segment.

Intangible assets, net, are comprised of the following as of December 31, 2019:
 
Weighted-Average Life
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Customer relationships
12 years
 
$
354,305

 
$
(148,632
)
 
$
205,673

Amortizable trade name
8 years
 
76,407

 
(10,177
)
 
66,230

 
 
 
$
430,712

 
$
(158,809
)
 
$
271,903



Intangible assets, net, are comprised of the following as of December 31, 2018:
 
Weighted-Average Life
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Non-amortizable trade names
indefinite
 
$
101,000

 
$
—

 
$
101,000

Customer relationships
11 years
 
475,050

 
(221,822
)
 
253,228

Developed technology
5 years
 
6,340

 
(4,311
)
 
2,029

Amortizable trade name
9 years
 
19,940

 
(3,553
)
 
16,387

 
 
 
$
602,330

 
$
(229,686
)
 
$
372,644



During the second quarter of 2019, the company initiated actions to further integrate two global components businesses. These businesses held indefinite-lived trade names with a carrying value of $101,000. As a result of the company's decision to integrate these brands, we determined the useful lives of the trade names were no longer indefinite as of June 29, 2019, and began amortizing these trade names over their estimated remaining useful lives. The trade names were tested for impairment as a result of the change
in estimated useful lives. The company estimated the fair value of the trade names to be $55,000 using the relief from royalty method and recorded a non-cash impairment charge of $46,000 ($34,653 net of tax) during the second quarter of 2019. The drivers of the impairment were primarily due to the shortened useful lives of the asset and a decline of the forecasted revenues attributable to the trade names as integration to the Arrow brand occurs over the estimated remaining useful lives.

In December 2018, the company completed an asset acquisition of a $20,000 customer relationship intangible asset with an assigned useful life of 10 years. The intangible asset is included in the company's global components segment.

Amortization expense related to identifiable intangible assets was $48,097, $49,356, and $50,071 for the years ended December 31, 2019, 2018, and 2017, respectively. Amortization expense for each of the years 2020 through 2024 is estimated to be approximately $38,537, $37,383, $35,994, $31,875, and $29,629, respectively.