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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Our goodwill and intangible assets have resulted from acquisitions. Upon acquisition, the purchase price is first allocated to identifiable assets and liabilities, including trademarks and customer-related intangible assets, with any remaining purchase price recorded as goodwill. Goodwill and intangible assets with indefinite lives are not amortized. Finite-lived intangible assets are amortized over their expected useful lives. Determining the expected life of an intangible asset is based on a number of factors including the competitive environment, history and anticipated future support.
As of December 31, 2019, the gross carrying value of goodwill was $2.26 billion and accumulated goodwill impairment was $2.26 billion. We recorded a goodwill impairment charge of $2.08 billion in 2011 and a goodwill impairment charge of $0.19 billion in 2018.
We conduct impairment tests of indefinite-lived intangible assets annually in the fourth quarter and on an interim basis when circumstances arise that indicate a possible impairment. Considerable management judgment is necessary to evaluate indefinite-lived intangible assets for impairment. We estimate fair value using widely accepted valuation techniques including the relief-from-royalty method with respect to our indefinite-lived trademarks. We base our fair value estimates on assumptions we believe to be reasonable, but which are unpredictable and inherently uncertain. Changes in these estimates or assumptions could materially affect the determination of fair value.
In the fourth quarter of 2019, as a result of declining volumes and projected future cash flows related to one of our indefinite-lived trademarks, we recorded an impairment charge of $21.5 million to reduce the carrying value of the trademark to its estimated fair value. Based on the results of our annual impairment testing of our indefinite-lived trademarks completed during the fourth quarter of 2019, we did not record any other impairment charges.

We evaluate our finite-lived intangible assets for impairment upon a significant change in the operating environment or whenever circumstances indicate that the carrying value may not be recoverable. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows.
Prior to 2015, certain of our trademarks were not amortized as our intent was to continue to use these intangible assets indefinitely. During the first quarter of 2015, we approved the launch of DairyPure®, our national white milk brand. In connection with the approval of the launch of DairyPure®, we re-evaluated our indefinite-lived trademarks and determined them to be finite-lived, with remaining useful lives of 5 years. In the first quarter of 2016, we further evaluated the remaining useful life of our finite-lived trademarks in conjunction with our newly approved strategy around our ice cream brands. Based on our evaluation, we extended the useful lives of certain of our finite-lived trademarks. Our finite-lived trademarks are being amortized on a straight-line basis over their remaining useful lives, which range from approximately 1 to 7 years, with a weighted-average remaining useful life of approximately 6 years.
The net carrying amounts of our intangible assets as of December 31, 2019 and 2018 were as follows:
 
December 31, 2019
 
December 31, 2018
 
Acquisition Costs
 
Accumulated Impairment
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Acquisition Costs
 
Accumulated Impairment
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
(In thousands)
Intangible assets with indefinite lives:
Trademarks
$
69,315

 
$
(21,500
)
 
$
—

 
$
47,815

 
$
69,315

 
$
—

 
$
—

 
$
69,315

Intangible assets with finite lives:
Customer-related and other
83,545

 
—

 
(49,590
)
 
33,955

 
83,545

 
—

 
(45,423
)
 
38,122

Trademarks
230,709

 
(109,910
)
 
(91,053
)
 
29,746

 
230,709

 
(109,910
)
 
(74,621
)
 
46,178

Total
$
383,569

 
$
(131,410
)
 
$
(140,643
)
 
$
111,516

 
$
383,569

 
$
(109,910
)
 
$
(120,044
)
 
$
153,615

Amortization expense on intangible assets for the years ended December 31, 2019, 2018 and 2017 was $20.6 million, $20.5 million and $20.7 million, respectively. The amortization of intangible assets is reported on a separate line item in our Consolidated Statements of Operations. Estimated aggregate intangible asset amortization expense for the next five years is as follows (in millions):
2020
$
12.5

2021
10.8

2022
8.1

2023
7.3

2024
6.8