Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

NOTE 6. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table shows an analysis of goodwill by reporting segment:

	Year Ended December 31, 2018
	U.S.		Int'l
amounts in thousands	Insurance		Insurance			Total
Goodwill at Beginning of the Year	$	1,978	$	2,482		$	4,460
Goodwill Acquired		—		12,703			12,703
Foreign Currency Translation Adjustment		—		(345	)		(345	)
Goodwill at End of the Year	$	1,978	$	14,840		$	16,818

The Goodwill Acquired primarily relates to expected synergies from combining operations of the NICE Group and is not expected to be deductible for tax purposes. Included in the Goodwill Acquired is an increase of $1.4 million from the amount initially recorded at June 30, 2018, as a result of a measurement period adjustment to the fair value of the ASCO customer relationships intangible asset. See the “Intangibles” section below for further information.

Intangibles

The gross carrying value and weighted average amortization period of intangible assets by type at December 31, 2018 was as follows:

	As of December 31, 2018
amounts in thousands	Gross Carrying Amount		Accumulated Amortization			Weighted Average Amortization Period
Finite-Lived Assets
ASCO Customer Relationships	$	3,289	$	(164	)	10 years
ASCO VOBA		1,663		(208	)	4 years
BDM Broker Networks		984		(33	)	15 years
BDM Trade Name		484		(242	)	1 year
Total	$	6,420	$	(647	)
Indefinite-Lived Assets
ASCO European Licenses	$	2,419	indefinite
NUAL Lloyd's Syndicate Capacity	$	2,136	indefinite
Total	$	4,555

As part of our business combination accounting within the measurement period, the Company recorded an adjustment to the fair value of the ASCO customer relationships intangible asset. The adjustment resulted from additional analysis of the duration of customer contracts, which decreased the useful life of the intangible asset from 15 to 10 years. As a result, the fair value of the intangible asset decreased by $1.4 million from the amount initially recorded at June 30, 2018.

The amortization of the Finite-Lived Assets was recognized within Other Operating Expenses on our Consolidated Statements of Income (Loss) with the exception of the amortization of the VOBA asset, which was recognized within Commission Expenses.

The estimated remaining amortization expense for the finite-lived intangible assets is as follows:

amounts in thousands	Total
2019	$	1,052
2020		810
2021		810
2022		602
2023		394
2024 and thereafter		2,105
Total	$	5,773