Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets, net of accumulated amortization, as of December 31, 2019 and 2018 are as follows (in thousands):



	2019		2018
Goodwill	$	659,937	$	647,077
Other intangible assets, net	830,298		870,517
Total goodwill and other intangible assets, net	$	1,490,235	$	1,517,594

There were no material additions to goodwill and other intangible assets in 2019. Additions to goodwill and other intangible assets in 2018 primarily relate to the acquisition of Boat Holdings in July 2018. The aggregate purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. Boat Holding’s financial results are included in the Company’s consolidated results from the date of acquisition. The pro forma financial results and the purchase price allocation are included in Note 3.

The changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018 are as follows (in thousands):



	2019			2018
Balance as of beginning of year	$	647,077		$	433,374
Goodwill acquired and related adjustments	14,157			218,191
Currency translation effect on foreign goodwill balances	(1,297		)	(4,488		)
Balance as of end of year	$	659,937		$	647,077

For other intangible assets, the changes in the net carrying amount for the years ended December 31, 2019 and 2018 are as follows (in thousands):



	2019						2018
	Gross Amount			Accumulated Amortization			Gross Amount			Accumulated Amortization
Other intangible assets, beginning	$	964,653		$	(94,136	)	$	423,846		$	(76,634	)
Intangible assets acquired during the period	1,077			—			557,390			—
Intangible assets disposed of during the period	(7,114		)	7,114			(13,659		)	13,659
Amortization expense	—			(40,882		)	—			(32,927		)
Currency translation effect on foreign balances	(1,788		)	1,374			(2,924		)	1,766
Other intangible assets, ending	$	956,828		$	(126,530	)	$	964,653		$	(94,136	)

The components of other intangible assets were as follows (in thousands):



December 31, 2019	Estimated Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Non-compete agreements	4	$	2,630	$	(986	)	$	1,644
Dealer/customer related	5-20	499,513		(116,142		)	383,371
Developed technology	5-7	12,655		(9,402		)	3,253
Total amortizable		514,798		(126,530		)	388,268
Non-amortizable—brand/trade names		442,030		—			442,030
Total other intangible assets, net		$	956,828	$	(126,530	)	$	830,298

December 31, 2018	Estimated Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Non-compete agreements	4	$	2,630	$	(329	)	$	2,301
Dealer/customer related	5-20	506,401		(85,614		)	420,787
Developed technology	5-7	13,323		(8,193		)	5,130
Total amortizable		522,354		(94,136		)	428,218
Non-amortizable—brand/trade names		442,299		—			442,299
Total other intangible assets, net		$	964,653	$	(94,136	)	$	870,517

Amortization expense for intangible assets for the year ended December 31, 2019 and 2018 was $40,882,000 and $32,927,000, respectively. Estimated amortization expense for 2020 through 2024 is as follows: 2020, $36,056,000; 2021, $33,288,000; 2022, $28,323,000; 2023, $25,791,000; 2024, $25,023,000; and after 2024, $239,787,000. The

preceding expected amortization expense is an estimate and actual amounts could differ due to additional intangible asset acquisitions, changes in foreign currency rates or impairment of intangible assets.