5.	GOODWILL, OTHER INTANGIBLE, AND OTHER ASSETS

July 3, 2018,

we acquired

100%

of the outstanding stock of Landair Holdings, Inc., a Tennessee corporation ("Landair"). Landair is a dedicated and for-hire truckload carrier, as well as a supplier of transportation management, warehousing, and inventory management services. Landair's results have been included in the consolidated financial statements since the date of acquisition. The Company's only goodwill and other intangible assets are a result of the Landair acquisition. In

2019,

the allocation of the Landair purchase price was subject to change based on finalization of the valuation of long lived and intangible assets and self-insurance reserves, as well as our ongoing evaluation of Landair's accounting principles of consistency with ours. The impact of this assessment was an increase of

$0.9

million to the carrying value of goodwill in

2019.

The final assignment of goodwill and intangible assets to our reportable operating segments was completed as of

June 30, 2019.

The Company conducted its annual impairment assessments and tests of goodwill for each reporting unit as of

October 1, 2019.

The

first

step of the goodwill impairment test is the Company's assessment of qualitative factors to determine whether it is more likely than

not

that the fair value of a reporting unit is less than the reporting unit's carrying amount, including goodwill. When performing the qualitative assessment, the Company considers the impact of factors including, but

not

limited to, macroeconomic and industry conditions, overall financial performance of each reporting unit, litigation and new legislation. If based on the qualitative assessments, the Company believes it more likely than

not

that the fair value of a reporting unit is less than the reporting unit's carrying amount, or periodically as deemed appropriate by management, the Company will prepare an estimation of the respective reporting unit's fair value utilizing a quantitative approach.

If the estimation of fair value indicates that impairment potentially exists, the Company will then measure the amount of the impairment, if any. Goodwill impairment exists when the estimated implied fair value of goodwill is less than its carrying value. Changes in strategy or market conditions could significantly impact these fair value estimates and require adjustments to recorded asset balances.

A summary of indefinite-lived goodwill and other intangible assets, by reportable operating segment as of

December 31, 2019

and

2018

is as follows:

(in thousands)	December 31, 2019
	Gross/net goodwill
Dedicated	$	15,320
Managed Freight		27,198
Total goodwill	$	42,518

(in thousands)	December 31, 2019
	Gross intangible assets		Accumulated amortization			Net intangible assets		Remaining Life (months)
Trade name:
Dedicated	$	2,402	$	(240	)	$	2,162
Managed Freight		1,998		(200	)		1,798
Total trade name		4,400		(440	)		3,960		162
Non-Compete agreement:
Dedicated		914		(274	)		640
Managed Freight		486		(146	)		340
Total non-compete agreement		1,400		(420	)		980		42
Customer relationships:
Dedicated		14,072		(1,759	)		12,313
Managed Freight		14,128		(1,766	)		12,362
Total customer relationships:		28,200		(3,525	)		24,675		126
Total other intangible assets	$	34,000	$	(4,385	)	$	29,615

(in thousands)	December 31, 2018
	Gross/net goodwill
Goodwill	$	41,598

(in thousands)	December 31, 2018
	Gross intangible assets		Accumulated amortization			Net intangible assets		Remaining Life (months)
Trade name	$	4,400	$	(147	)	$	4,253		174
Non-Compete agreement		1,400		(140	)		1,260		54
Customer relationships		28,200		(1,175	)		27,025		138
Total other intangible assets	$	34,000	$	(1,462	)	$	32,538

The above finite-lived intangible assets have a weighted average remaining life of

128

months and

140

months as of

December 31, 2019

.and

2018

, respectively. Amortization expenses of intangible assets were

$2.9

million

$1.5

million

, and

$0.2

million

for

2019,

2018,

and

2017

, respectively. The expected amortization expense of these assets for the next

five

years is as follows:

	(In thousands)
2020	$	2,923
2021		2,923
2022		2,923
2023		2,783
2024		2,643
Thereafter		15,420

A summary of other assets as of

December 31, 2019

and

2018

is as follows:

(in thousands)	2019		2018
Investment in TEL	$	31,906	$	26,106
Other assets, net		6,013		11,043
Total other assets, net	$	37,919	$	37,149

Additionally, the Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount

may

not

be recoverable. Impairment is recognized on assets classified as held and used when the sum of undiscounted estimated cash flows expected to result from the use of the asset is less than the carrying value. If such measurement indicates a possible impairment, the estimated fair value of the asset is compared to its net book value to measure the impairment charge, if any.