Goodwill and other intangibles

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangibles. The summary of changes in goodwill is as follows:



	Title		Ancillary Services and Corporate	Total
	($000 omitted)
Balances at January 1, 2018	225,699		5,729	231,428
Acquisitions	17,504		—	17,504
Disposals	(42	)	—	(42	)
Balances at December 31, 2018 and 2019	243,161		5,729	248,890

The Company evaluates goodwill for impairment annually based on information as of June 30 of the current year or more frequently if circumstances suggest that impairment may exist. Utilizing the quantitative impairment analysis approach in 2019 and 2018, the Company determined that goodwill related to all of its reporting units was not impaired.

During 2018, the Company acquired several title businesses which increased goodwill related to the title segment by a total of $17.5 million, which is substantially deductible for income tax purposes over a period of 15 years. Also, in connection with the acquisitions, the Company identified and recorded $4.5 million of other intangibles, primarily related to employment and non-compete agreements, to be amortized between one year to three years from the dates of acquisition.

The gross carrying amount, and accumulated amortization and impairment of other intangibles was $35.0 million and $30.4 million, respectively, at December 31, 2019 and $35.0 million and $25.3 million, respectively, at December 31, 2018. The amortization expense recorded for the Company's other intangible assets was $4.2 million and $4.6 million in 2019 and 2018, respectively. Additionally, an impairment expense of $0.9 million was recorded as part of net realized and unrealized gains in the consolidated statement of income and comprehensive income during 2019 for other intangible assets that were no longer providing economic benefits. The annual amortization expense expected to be recognized in the next five years relating to other intangible assets is approximately $2.3 million in 2020, $0.9 million in 2021, $0.4 million in 2022, $0.2 million in 2023 and $0.2 million in 2024.