| Goodwill and Intangible Assets |
6. Goodwill and Intangible Assets
The changes in the carrying amount of goodwill for the nine months ended September 30, 2019 were as follows:
|
|
Goodwill |
|
|
|
(in thousands) |
|
|
Balance as of December 31, 2018 |
$ |
632,370 |
|
|
Foreign currency translation |
|
(7,930 |
) |
|
Divestitures |
|
(2,682 |
) |
|
Balance as of September 30, 2019 |
$ |
621,758 |
|
Intangible assets consisted of the following:
|
|
September 30, 2019 |
|
|
|
Weighted-
Average
Remaining
Useful Life -
Years |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net |
|
|
|
(in thousands, except years) |
|
|
Domain names |
|
2.1 |
|
|
$ |
5,414 |
|
|
$ |
5,096 |
|
|
$ |
318 |
|
|
Trademarks |
|
— |
|
|
|
3,072 |
|
|
|
3,072 |
|
|
|
— |
|
|
Acquired developed technology |
|
3.3 |
|
|
|
148,298 |
|
|
|
89,189 |
|
|
|
59,109 |
|
|
Customer relationships |
|
— |
|
|
|
2,172 |
|
|
|
2,172 |
|
|
|
— |
|
|
Patents |
|
6.2 |
|
|
|
19,710 |
|
|
|
6,766 |
|
|
|
12,944 |
|
|
|
|
|
|
|
$ |
178,666 |
|
|
$ |
106,295 |
|
|
$ |
72,371 |
|
|
|
December 31, 2018 |
|
|
|
Weighted-
Average
Remaining
Useful Life -
Years |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net |
|
|
|
(in thousands except years) |
|
|
Domain names |
|
1.6 |
|
|
|
5,414 |
|
|
$ |
4,283 |
|
|
$ |
1,131 |
|
|
Trademarks |
|
1.4 |
|
|
|
5,772 |
|
|
|
4,076 |
|
|
|
1,696 |
|
|
Acquired developed technology |
|
3.8 |
|
|
|
179,791 |
|
|
|
78,729 |
|
|
|
101,062 |
|
|
Customer relationships |
|
2.1 |
|
|
|
15,572 |
|
|
|
8,012 |
|
|
|
7,560 |
|
|
Patents |
|
6.9 |
|
|
|
19,710 |
|
|
|
5,105 |
|
|
|
14,605 |
|
|
|
|
|
|
|
$ |
226,259 |
|
|
$ |
100,205 |
|
|
$ |
126,054 |
|
Amortization of intangible assets was $6.9 million and $10.6 million for the three months ended September 30, 2019 and 2018, respectively, and $26.3 million and $32.2 million for the nine months ended September 30, 2019 and 2018, respectively.
As of September 30, 2019, the estimated intangible asset amortization expense for the next five years and thereafter is as follows:
|
|
Estimated
Amortization |
|
|
|
(in thousands) |
|
|
Remainder of 2019 |
$ |
6,546 |
|
|
2020 |
|
23,028 |
|
|
2021 |
|
17,404 |
|
|
2022 |
|
10,810 |
|
|
2023 |
|
8,378 |
|
|
Thereafter |
|
6,205 |
|
|
Total |
$ |
72,371 |
|
|