Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | 9) GOODWILL AND INTANGIBLE ASSETS Goodwill The carrying amount of goodwill at December 31, 2025, 2024, and 2023 was $59,476,000. For the 2025 annual goodwill impairment test, we utilized the quantitative assessment for our goodwill, determining that it was not impaired. This testing took place during the third quarter of 2025. There was no additional goodwill acquired or disposed of during the years ended December 31, 2025, 2024 and 2023. Accumulated impairment related to goodwill was $10,156,000 at December 31, 2024 and 2023, attributable wholly to IIC, and was disposed of with the sale of IIC as described in Note 4 above. Intangible Assets The following is a summary of intangible assets excluding goodwill recorded as other assets on our Consolidated Balance Sheets at:
(1) Indefinite-lived intangible assets are comprised of state insurance and agent licenses, as well as perpetual software licenses. Intangible assets subject to amortization consisted of the following:
No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the years ended December 31, 2025 and 2024. Amortization expense of our intangible assets was $2,437,000, $2,640,000 and $3,247,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Estimated amortization expense of our intangible assets to be recognized by the Company over the next five years is as follows:
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