GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2019

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

NOTE C – GOODWILL AND INTANGIBLE ASSETS

Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired. Goodwill by reportable operating segment consisted of $107.7 million and $0.6 million reported in the ArcBest and FleetNet segments, respectively, for both September 30, 2019 and December 31, 2018.

Intangible assets consisted of the following:

		September 30, 2019						December 31, 2018
	Weighted-Average			Accumulated		Net				Accumulated		Net
	Amortization Period	Cost		Amortization		Value			Cost	Amortization		Value
	(in years)	(in thousands)						(in thousands)
Finite-lived intangible assets
Customer relationships	14	$	60,431	$	27,410	$	33,021	$	60,431	$	24,130	$	36,301
Other	9		1,032		770		262		1,032		684		348
	14		61,463		28,180		33,283		61,463		24,814		36,649
Indefinite-lived intangible assets
Trade name	N/A		32,300		N/A		32,300		32,300		N/A		32,300
Total intangible assets	N/A	$	93,763	$	28,180	$	65,583	$	93,763	$	24,814	$	68,949

The future amortization for intangible assets acquired through business acquisitions as of September 30, 2019 was as follows:

	Amortization of
	Intangible Assets
	(in thousands)
Remainder of 2019	$	1,116
2020		4,454
2021		4,412
2022		4,385
2023		4,287
Thereafter		14,629
Total amortization	$	33,283