Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

In 2019, the Company concluded it was more likely than not that the estimated fair value of its reporting unit was less than its carrying value. In its assessment, the Company considered the sustained decline in the Company's stock price and market capitalization, changes in management, and lower revenue, among other factors. Accordingly, the Company performed a quantitative goodwill impairment test as of June 30, 2019, relying in part on the work of an independent valuation firm engaged by the Company to provide inputs as to the fair value of the reporting unit and to assist in the related calculations and analysis.

The fair value of the reporting unit was determined using a combination of the discounted cash flow model and market value approach. The Company's reporting unit failed the goodwill impairment test; and as a result, the Company recorded a $224.3 million impairment charge.

The change in the carrying value of goodwill is as follows:


(In thousands)
Balance as of December 31, 2018	$	641,191
Translation adjustments	(501)
Impairment charge	(224,272)
Balance as of December 31, 2019	$	416,418
Translation adjustments	1,909
Balance as of December 31, 2020	$	418,327
Goodwill	642,599
Accumulated impairment	(224,272)
Total	$	418,327

The Company also recorded a $17.3 million impairment charge related to its strategic alliance intangible asset during 2019. Changes in the Company's projected revenue in certain non-U.S. geographic markets due to the changing international competitive landscape as well as significant reductions in international staffing, resulted in a change in the Company's long-term view of the viability of the intangible asset. As such, the Company's assessment yielded that the benefit of the strategic alliance would not be realized. The fair value of the strategic alliance intangible asset was estimated using an income approach resulting in an impairment charge for the full carrying value of the long-lived asset of $17.3 million.

The carrying values of the Company's amortizable acquired intangible assets are as follows:


	As of				As of
	December 31, 2020				December 31, 2019
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Acquired methodologies and technology	$	148,403	$	(106,771)	$	41,632	148,386		$	(86,771)	$	—	$	61,615
Customer relationships	40,168		(31,170)		8,998		40,143		(25,864)		—		14,279
Intellectual property	14,379		(12,787)		1,592		14,372		(12,346)		—		2,026
Acquired software	9,287		(9,286)		1		9,287		(7,928)		—		1,359
Panel	3,139		(3,139)		—		3,123		(3,123)		—		—
Trade names	773		(757)		16		768		(691)		—		77
Strategic alliance	—		—		—		30,100		(12,792)		(17,308)		—
Other	600		(499)		101		600		(397)		—		203
Total intangible assets	$	216,749	$	(164,409)	$	52,340	$	246,779	$	(149,912)	$	(17,308)	$	79,559

Amortization expense related to intangible assets was $27.2 million, $30.1 million, and $32.9 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Of the Company's long-lived intangible assets, net, $52.3 million and $79.5 million were generated by or located in the United States as of December 31, 2020 and 2019, respectively.

The weighted-average remaining amortization period by major asset class as of December 31, 2020 is as follows:


			(In years)
Intellectual property			3.7
Customer relationships			1.5
Acquired methodologies and technology			1.4
Trade names			0.2

Acquired software			0.1
Other			0.3

The estimated future amortization of intangible assets is as follows:


	(In thousands)
2021	$	25,038
2022	24,567
2023	2,445
2024	290

Total	$	52,340