Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets, net

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Goodwill and Intangible Assets, net
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net Goodwill and Intangible Assets, net
The goodwill and intangible assets were acquired as part of the acquisition of Mainstream Energy Corporation, which included AEE Solar and its racking business SnapNrack; Clean Energy Experts, LLC; Omni Energy, LLC; and Vivint Solar.
The change in the carrying value of goodwill is as follows (in thousands):
Balance—January 1, 2018 $ 87,543 
Acquisition of Omni (Note 3) 7,551 
Balance—December 31, 2019 95,094 
Acquisition of Vivint Solar (Note 3) $ 4,185,075 
Balance—December 31, 2020 $ 4,280,169 
The Company performs its annual impairment test of goodwill on October 1 of each fiscal year or whenever events or circumstances change or occur that would indicate that goodwill might be impaired. The Company has determined that it has one reporting unit.
There was no impairment of goodwill during the years ended December 31, 2020, 2019 and 2018, respectively.
Intangible assets, net as of December 31, 2020 consist of the following (in thousands, except weighted average remaining life):
Cost
Accumulated
amortization
Carrying
value
Weighted
average
remaining life
(in years)
Customer relationships $ 32,770  $ (15,349) $ 17,421  3.6
Developed technology 6,820  (6,820) —  — 
Trade names 6,990  (6,149) 841  2.3
Total
 $ 46,580  $ (28,318) $ 18,262 
Intangible assets, net as of December 31, 2019 consist of the following (in thousands, except weighted average remaining life):
Cost
Accumulated
amortization
Carrying
value
Weighted
average
remaining life
(in years)
Customer relationships
 $ 28,870  $ (10,837) $ 18,033  4.3
Developed technology
 6,820  (6,525) 295  0.3
Trade names
 6,990  (5,775) 1,215  3.3
Total
 $ 42,680  $ (23,137) $ 19,543 
The Company recorded amortization of intangible assets expense of $5.2 million, $4.8 million and $4.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020, expected amortization of intangible assets for each of the five succeeding fiscal years and thereafter is as follows (in thousands):
2021 $ 5,371 
2022 5,364 
2023 4,673 
2024 2,269 
2025 585 
Thereafter
 — 
Total
 $ 18,262