Following is a summary of the Company’s finite-lived and indefinite-lived intangible assets and goodwill as of September 30, 2019 and December 31, 2018.

Nine Months Ended September 30, 2019	Gross Carrying Amount		Accumulated Amortization			Currency Translation			Net Carrying Amount		Remaining Weighted Average Amortization Period
(Dollars in thousands)
Brand name	$	9,000	$	(4,333	)	$	2		$	4,669	3-4
Technology		15,000		(7,221	)		3			7,782	2-4
Customer relationships		167,000		(48,681	)		(1,646	)		116,673	4-9
Total finite		191,000		(60,235	)		(1,641	)		129,124
Trade names		14,000		—			(435	)		13,565	Indefinite
Total intangibles	$	205,000	$	(60,235	)	$	(2,076	)	$	142,689

Nine Months Ended September 30, 2019

Beginning Balance

Currency

Translation

Ending

Balance

(Dollars in thousands)

Goodwill

291,434

(12,891

)

278,543

Year Ended December 31, 2018	Gross Carrying Amount		Accumulated Amortization			Currency Translation		Net Carrying Amount		Remaining Weighted Average Amortization Period
(Dollars in thousands)
Brand name	$	9,000	$	(2,979	)	$	237	$	6,258	4-5
Technology		15,000		(4,964	)		394		10,430	3-5
Customer relationships		167,000		(33,468	)		3,823		137,355	5-10
Total finite		191,000		(41,411	)		4,454		154,043
Trade names		14,000		—			326		14,326	Indefinite
Total intangibles	$	205,000	$	(41,411	)	$	4,780	$	168,369

Beginning Balance

Currency

Translation

Ending

Balance

Year Ended December 31, 2018

(Dollars in thousands)

Goodwill

304,805

(13,371

)

291,434

Amortization expense for these intangible assets was $6.6 million and $6.5 million for the quarters ended September 30, 2019 and 2018, respectively. Amortization for the first nine months of the year was $20.1 million and $19.9 million for September 30, 2019 and 2018, respectively. The anticipated annual amortization expense for these intangible assets is $25.0 million for 2019 to 2021, $22.2 million for 2022 and $20.2 million for 2023.

The identification of potential impairment involves comparing our Europe reporting unit’s estimated fair value to its carrying value, including goodwill. In performing our valuation, we utilize both an income approach and a market approach to determine fair value. The income approach is based on projected debt-free cash flow, which is discounted to the present value using discount factors that consider the timing and risk of cash flows. The discount rate used is the weighted average of an estimated cost of equity and of debt (“weighted average cost of capital”). The weighted average cost of capital is adjusted as necessary to reflect risk associated with the business of the Europe reporting unit. Financial projections are based on estimated production volumes, product prices and expenses, including raw material cost, wages, energy and other expenses. Other significant assumptions include terminal value cash flow and growth rates, future capital expenditures and changes in future working capital requirements. The market approach is based on the observed ratios of enterprise value to earnings before interest, taxes, depreciation and amortization (EBITDA) of comparable, publicly traded companies. The market approach fair value is determined by multiplying historical and anticipated financial metrics of the European reporting unit by the EBITDA pricing multiples derived from the comparable, publicly traded companies. Our 2018 assessment of European goodwill indicated that the fair value of the European reporting unit exceeded its respective carrying value by approximately $12.2 million, or approximately 2%. A considerable amount of management judgment and assumptions are required in performing the quantitative impairment test, principally related to determining the fair value of the reporting unit. While the Company believes its judgments and assumptions are reasonable, different assumptions could change the estimated fair value.

The identification and evaluation of potential triggering events in interim periods between annual impairment assessments also involves considerable judgment. Recent analyst forecasts of automotive passenger car and light truck sales in Europe for 2020 to 2023 are lower than previously issued forecasts. In addition, the Company’s closing stock price (which fluctuated higher and lower than the December 31, 2018 stock price during the first two quarters) has ranged between a low of $2.41 and high of $3.74 during the third quarter with a price of $2.89 as of September 30, 2019, representing a 40 percent decline in market capitalization since December 31, 2018. While these factors may indicate a potential decline in the fair value of the European reporting unit, we do not have sufficient evidence to conclude that it is more likely than not that the carrying value of the European reporting unit exceeds its fair value. The Company plans to complete its long-term business planning in the fourth quarter of 2019. These financial projections are a key input into the quantitative impairment test of goodwill and indefinite-lived intangibles, which we plan to perform in the fourth quarter.