Table:
|  | September 2019 | September 2018 |
| --- | --- | --- |
| Trademarks and tradenames (Retail Segment) | $500,000 | $3,373,269 |
| ustomer relationships (Wholesale Segment) (less accumulated amortization of approximately $2.1 million at both September 2019 and September 2018) | — | 41,667 |
|  | $  500,000 | $3,414,936 |
Paragraphs:
Other intangible assets at fiscal year ends 2019 and 2018 consisted of the following:
Goodwill, trademarks and tradenames are considered to have indefinite useful lives and therefore no amortization has been taken on these assets. The Company’s retail reporting unit recorded intangible asset (trademarks and tradenames) impairment charges of approximately $2.9 million during fiscal 2019 and goodwill impairment charges of approximately $1.9 million during fiscal 2018 when it was determined that the carrying values of these assets exceeded their fair values. These impairment charges arose from a range of considerations including, but not limited to, heightened competition in the industry, retail sector market conditions, and earning shortfalls which impacted the Company’s projections of future cash flows to be generated. These impairment charges were recorded in the Company’s consolidated statement of operations as a component of operating income.
Goodwill recorded on the Company’s consolidated balance sheet represents amounts allocated to its wholesale reporting unit which totaled $4.4 million at both September 2019 and September 2018. The Company determined that the estimated fair value of its wholesale reporting unit exceeded its carrying value at both September 2019 and September 2018.
Question:
What does goodwill recorded on the Company’s consolidated balance sheet represent?
Answer: represents amounts allocated to its wholesale reporting unit