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Goodwill and Other Intangible Assets, Net (Tables)
6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill were as follows (in thousands):

 

 

 

Goodwill

 

Balance at December 31, 2019

 

$

553,745

 

Acquisitions

 

 

3,065

 

Measurement period adjustments

 

 

(55

)

Cumulative translation adjustment

 

 

(4,732

)

Balance at June 30, 2020

 

$

552,023

 

Components of Other Intangible Assets

Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):

 

  

 

June 30, 2020

 

 

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net Carrying

Amount

 

 

Weighted-

Average

Remaining Life

(Years)

 

Definite life intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer-related

 

$

247,410

 

 

$

65,887

 

 

$

181,523

 

 

 

10.9

 

Technology

 

 

24,022

 

 

 

18,317

 

 

 

5,705

 

 

 

1.7

 

Noncompete agreements

 

 

29,666

 

 

 

28,451

 

 

 

1,215

 

 

 

6.4

 

Patents

 

 

12,233

 

 

 

11,982

 

 

 

251

 

 

 

 

All other

 

 

30,461

 

 

 

4,589

 

 

 

25,872

 

 

 

8.2

 

Total definite life intangible assets

 

 

343,792

 

 

 

129,226

 

 

 

214,566

 

 

 

10.3

 

Indefinite life intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

79,570

 

 

 

 

 

 

79,570

 

 

N/A

 

Licenses

 

 

2,267

 

 

 

 

 

 

2,267

 

 

N/A

 

Total indefinite life intangible assets

 

 

81,837

 

 

 

 

 

 

81,837

 

 

N/A

 

Total

 

$

425,629

 

 

$

129,226

 

 

$

296,403

 

 

 

10.3

 

 

 

 

December 31, 2019

 

 

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net Carrying

Amount

 

 

Weighted-

Average

Remaining Life

(Years)

 

Definite life intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer-related

 

$

250,788

 

 

$

57,332

 

 

$

193,456

 

 

 

11.2

 

Technology

 

 

24,024

 

 

 

16,608

 

 

 

7,416

 

 

 

2.2

 

Noncompete agreements

 

 

30,378

 

 

 

28,198

 

 

 

2,180

 

 

 

4.2

 

Patents

 

 

12,232

 

 

 

11,954

 

 

 

278

 

 

 

0.1

 

All other

 

 

7,552

 

 

 

3,195

 

 

 

4,357

 

 

 

9.4

 

Total definite life intangible assets

 

 

324,974

 

 

 

117,287

 

 

 

207,687

 

 

 

10.8

 

Indefinite life intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

93,083

 

 

 

 

 

 

93,083

 

 

N/A

 

Licenses

 

 

2,454

 

 

 

 

 

 

2,454

 

 

N/A

 

Total indefinite life intangible assets

 

 

95,537

 

 

 

 

 

 

95,537

 

 

N/A

 

Total

 

$

420,511

 

 

$

117,287

 

 

$

303,224

 

 

 

10.8

 

Estimated Future Amortization Expense of Definite Life Intangible Assets

The estimated future amortization expense of definite life intangible assets as of June 30, 2020 is as follows (in millions):

 

2020

 

$

12.4

 

2021

 

 

24.0

 

2022

 

 

21.1

 

2023

 

 

20.5

 

2024

 

 

20.5

 

2025 and thereafter

 

 

116.1

 

Total

 

$

214.6