Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

The following is a summary of changes in goodwill and intangible assets with indefinite lives for the year ended December 31, 2019 (in thousands):

Balance at beginning of period	$	59,713
Goodwill from LiquidityEdge acquisition		87,148
Balance at end of period	$	146,861

Intangible assets that are subject to amortization, including the related accumulated amortization, are comprised of the following:

	December 31, 2019							December 31, 2018
	Cost		Accumulated amortization			Net carrying amount		Cost		Accumulated amortization			Net carrying amount
	(In thousands)
Technology	$	5,770	$	(5,770	)	$	—	$	5,770	$	(5,770	)	$	—
Customer relationships		64,332		(3,451	)		60,881		5,634		(2,672	)		2,962
Non-competition agreements		380		(380	)		—		380		(380	)		—
Tradenames and patents		490		(385	)		105		370		(370	)		—
Total	$	70,972	$	(9,986	)	$	60,986	$	12,154	$	(9,192	)	$	2,962

Amortization expense associated with identifiable intangible assets was $0.8 million, $0.4 million and $ 0.4 million for the years ended December 31, 2019, 2018 and 2017, respectively. Annual estimated total amortization expense is $3.3 million, $5.7 million, $6.9 million, $7.9 million and $6.7 million for 2020 through 2024.