Goodwill and Intangibles
|9 Months Ended|
Sep. 30, 2021
|Goodwill and Intangibles|
|Goodwill and Intangibles||
(3) Goodwill and Intangibles
During the first quarter of 2020, the Company performed an interim impairment analysis of its goodwill due to changes in Antero Resources’ drilling plans as a result of the decline in commodity prices. As a result of this evaluation, the Company impaired all remaining goodwill of $575 million associated with its gathering and processing segment in the first quarter of 2020. Significant assumptions used to estimate the reporting units’ fair value included the discount rate as well as estimates of future cash flows, which were impacted primarily by commodity prices and producer customers’ development plans (which impact volumes and capital requirements).
All customer relationships are subject to amortization and are amortized over a weighted average period of 20 years, which reflects the remaining economic life of the relationships as of September 30, 2021. The changes in the carrying amount of customer relationships for the nine months ended September 30, 2021 were as follows (in thousands):
Future amortization expense is as follows (in thousands):
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef