There were no changes and no impairment of the Company’s goodwill during the Current Nine Months or in the Prior Year Nine Months. The annual evaluation of the Company’s goodwill, by segment, is typically performed as of October 1, the beginning of the Company’s fourth fiscal quarter or as deemed necessary due to the identification of a triggering event. In accordance with ASC 350, during the First Quarter of 2020, the Company reassessed the fair value of its goodwill considering the impact of the COVID 19 pandemic on current and future cash flows of its International reporting unit. No triggering event was identified during the Current Quarter that would require a reassessment of the Company’s Goodwill.

		September 30, 2020				December 31, 2019
	Estimated Lives in Years	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite-lived trademarks	Indefinite	$	253,590	$	—	$	274,080	$	—
Definite-lived trademarks	10-15		8,958		8,958		8,958		8,958
Licensing contracts	1-9		978		978		978		974
		$	263,526	$	9,936	$	284,016	$	9,932
Trademarks and other intangibles, net				$	253,590			$	274,084

The trademarks of Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific, Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko, Zoo York, Ed Hardy, Umbro, Modern Amusement, Buffalo, Lee Cooper, Hydraulic and Pony have been determined to have an indefinite useful life. Each of these intangible assets are tested for impairment annually and as needed on an individual basis and territorial basis as separate single units of accounting, with any related impairment charge recorded to the income statement at the time of determining such impairment. The annual evaluation of the Company’s indefinite-lived trademarks is typically performed as of October 1, the beginning of the Company’s fourth fiscal quarter, or as deemed necessary due to the identification of a triggering event.

In accordance with ASC 350, the Company reassessed the fair values of its indefinite-lived trademarks considering the impact of the COVID-19 pandemic on current and future cash flows during 2020. The Company recorded impairment charges of $4.8 million for the Pony and Hydraulic brands during the Current Quarter, recorded impairment charges of $5.2 million during the quarter ended June 30, 2020 for the Joe Boxer and Cannon brands which were negatively impacted by Sears store closures and also recorded impairment charges of $13.7 million primarily for the Rampage, Joe Boxer, Waverly, Fieldcrest and Umbro indefinite-lived trademarks during the quarter ended March 31, 2020, resulting in an aggregate charge of $23.7 million for the Current Nine Months. There was no impairment expense on trademarks during the Prior Year Quarter or Prior Year Nine Months.

In July 2020, the Company completed its previously announced sale of Umbro China for $62.5 million in gross proceeds. The Umbro China sale included the sale of the Umbro trademark in the People’s Republic of China, Hong Kong, Taiwan and Macau. The Company received approximately $59.6 million in net proceeds from the sale of Umbro China and recorded a $59.6 million gain within operating income. Costs of $2.9 million directly associated with the sale primarily consisted of broker’s commission. The cost basis of Umbro China was immaterial. In September 2020, the Company completed the previously announced sale of Starter China for gross proceeds of $16.0 million. The Starter China sale includes the sale of the Starter trademark in the mainland of China, Hong Kong, Taiwan and Macau. The Company received approximately $15.6 million in net proceeds from the sale of Starter China and recorded a $14.5 gain within operating income. The cost basis of Starter China of $1.1 million consisted of the indefinite lived trademark. The Company separately wrote off a $1.5 million of contract asset associated with Starter China.

Other amortizable intangibles represent licensing contracts, which are amortized on a straight-line basis over their estimated useful lives of 1 to 9 years. Certain trademarks are amortized using estimated useful lives of 10 to 15 years with no residual values.

Amortization expense for intangible assets for both the Current Quarter and Prior Year Quarter was zero and less than $0.1 million, respectively. Amortization expense for intangible assets for both the Current Nine Months and Prior Year Nine Months was less than $0.1 million.