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## 3. GOODWILL AND INTANGIBLE ASSETS 

## NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) 

(amounts in thousands, except share data or if otherwise indicated) 

## THE HERSHEY COMPANY 

The changes in the carrying value of goodwill by reportable segment for the years ended December 31, 2020 and 2019 are as follows: 

<img src='content_image/1034722.jpg'>

We had no goodwill impairment charges in 2020, 2019 or 2018. 

The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: 

<img src='content_image/1034721.jpg'>

In 2019, sales and operating performance associated with our Krave business were below expectations. In the fourth quarter of 2019, as part of a strategic review initiated by our leadership team, we updated our strategic forecast which projected under performance related to the Krave business primarily due to mainstream brands driving category volume and an increase in the overall competitive landscape. We deemed this to be a triggering event requiring us to test our Krave long-lived asset group for impairment. Based on our assessment, we determined that the carrying value was not recoverable and calculated an impairment loss as the excess of the asset group's carrying value over its fair value. Therefore, as a result of this testing, during the fourth quarter of 2019, we recorded an impairment charge totaling $100,131 to write down the long-lived asset group, which predominantly consisted of customer relationship and trademark intangible assets. 

<img src='content_image/1034720.jpg'>

