Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets Associated with the Acquisition of C&C

v3.19.1
Goodwill and Other Intangible Assets Associated with the Acquisition of C&C
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Associated with the Acquisition of C&C
Goodwill and Other Intangible Assets Associated with the Acquisition of C&C
The Company performed an annual impairment assessment on its goodwill and intangible assets on December 31, 2018.  Based upon this analysis, the Company determined that there were no impairments.
The following table presents the gross and net balances of our goodwill and intangible assets as of the dates indicated:
 
 
 
December 31, 2018
 
December 31, 2017
 
Useful Life
(Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Goodwill
Indefinite
 
$
101,407

 
$

 
$
101,407

 
$
101,407

 
$

 
$
101,407

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks/Names
15
 
$
640,000

 
$
(213,334
)
 
$
426,666

 
$
640,000

 
$
(170,670
)
 
$
469,330

Customer relationships
20
 
350,000

 
(87,500
)
 
262,500

 
350,000

 
(70,000
)
 
280,000

Non-competition agreement
5
 
10,000

 
(10,000
)
 

 
10,000

 
(8,664
)
 
1,336

Other
1
 
13,800

 
(13,800
)
 

 
13,800

 
(13,800
)
 

Total
 
$
1,013,800

 
$
(324,634
)
 
$
689,166

 
$
1,013,800

 
$
(263,134
)
 
$
750,666


Amortization of definite-lived intangible assets will be approximately $60,000 annually for 2019 through 2023.