Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.20.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets

Changes in goodwill for the years ended December 31, 2019 and 2018 are as follows (in thousands):
 
Supply Chain Management
 
Federal Services
 
Aviation
 
Total
Balance as of December 31, 2017
$
63,190

 
$
30,883

 
$
104,549

 
$
198,622

Increase from acquisitions
—

 
—

 
—

 
—

Balance as of December 31, 2018
$
63,190

 
$
30,883

 
$
104,549

 
$
198,622

Increase from acquisitions
—

 
—

 
77,828

 
77,828

Balance as of December 31, 2019
$
63,190

 
$
30,883

 
$
182,377

 
$
276,450



The results of our annual goodwill impairment testing in the fourth quarter of 2019 indicated that the fair value of our reporting units exceeded their carrying values.

Intangible assets consist of the value of contract-related assets, technologies and trade names. Amortization expense for the years ended December 31, 2019, 2018 and 2017 was approximately $19.3 million, $16.0 million and $16.0 million, respectively.

Intangible assets were comprised of the following (in thousands):
 
Cost
 
Accumulated Amortization
 
Accumulated Impairment Loss
 
Net Intangible Assets
December 31, 2019
 
 
 
 
 
 
 
Contract and customer-related
$
227,594

 
$
(102,169
)
 
$
(1,025
)
 
$
124,400

Acquired technologies
12,400

 
(9,660
)
 
—

 
2,740

Trade names
18,770

 
(13,735
)
 
—

 
5,035

Total
$
258,764

 
$
(125,564
)
 
$
(1,025
)
 
$
132,175

 
 
 
 
 
 
 
 
December 31, 2018
 

 
 

 
 

 
 

Contract and customer-related
$
173,094

 
$
(86,076
)
 
$
(1,025
)
 
$
85,993

Acquired technologies
12,400

 
(8,533
)
 
—

 
3,867

Trade names
16,670

 
(11,638
)
 
—

 
5,032

Total
$
202,164

 
$
(106,247
)
 
$
(1,025
)
 
$
94,892



Future expected amortization of intangible assets is as follows for the years ending December 31, (in thousands):
 
Amortization
2020
$
18,809

2021
18,446

2022
16,700

2023
12,700

2024
9,119

Thereafter
56,401

Total
$
132,175