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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
    
Goodwill

Changes in the carrying value of goodwill by segment were as follows (in thousands):

December 31, 2019
U.S. operations segment
 
Latin America operations segment
 
Total
Balance, beginning of year
$
759,538

 
$
157,881

 
$
917,419

Acquisitions (see Note 3)
11,773

 
15,533

 
27,306

Effect of foreign currency translation

 
5,175

 
5,175

Other adjustments

 
(1,257
)
 
(1,257
)
Balance, end of year
$
771,311

 
$
177,332

 
$
948,643

 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
Balance, beginning of year
$
743,997

 
$
87,148

 
$
831,145

Acquisitions (see Note 3)
15,541

 
71,427

 
86,968

Effect of foreign currency translation

 
(694
)
 
(694
)
Balance, end of year
$
759,538

 
$
157,881

 
$
917,419



The Company performed its annual assessment of goodwill and determined there was no impairment as of December 31, 2019 and 2018.

Definite-Lived Intangible Assets

The following table summarizes the components of gross and net definite-lived intangible assets subject to amortization (in thousands):

 
 
As of December 31,
 
 
2019
 
2018
 
 
Gross
Carrying
Amount
 
Accumulated Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated Amortization
 
Net
Carrying
Amount
Customer relationships
 
$
25,899

 
$
(21,681
)
 
$
4,218

 
$
25,453

 
$
(18,955
)
 
$
6,498

Executive non-compete agreements
 

 

 

 
8,700

 
(8,700
)
 

 
 
$
25,899

 
$
(21,681
)
 
$
4,218

 
$
34,153

 
$
(27,655
)
 
$
6,498


Customer relationships are generally amortized using an accelerated amortization method that reflects the future cash flows expected from the returning pawn customers. The executive non-compete agreements expired and were fully amortized during 2018.

Amortization expense for definite-lived intangible assets was $2.9 million, $6.6 million and $10.7 million for the years ended December 31, 2019, 2018 and 2017, respectively. The remaining weighted-average amortization period for customer relationships is 1.1 years. Estimated future amortization expense is as follows (in thousands):

2020
$
2,368

2021
1,300

2022
299

2023
231

2024
20

 
$
4,218



Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets as of December 31, 2019 and 2018, consist of the following (in thousands):

 
 
As of December 31,
 
 
2019
 
2018
Trade names
 
$
46,300

 
$
46,300

Pawn licenses (1)
 
34,107

 
34,092

Other indefinite-lived intangibles
 
1,250

 
1,250

 
 
$
81,657

 
$
81,642


(1) 
Costs to renew licenses with indefinite lives are expensed as incurred and recorded in store operating expenses in the consolidated statements of income.

The Company performed its annual assessment of indefinite-lived intangible assets and determined there was no impairment as of December 31, 2019 and 2018.