GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The Company’s goodwill is the result of its acquisitions of other businesses, and represents the excess of purchase consideration over the fair value of assets acquired and liabilities assumed. The Company performed its annual goodwill impairment analysis as of August 31, 2019 and concluded that goodwill was not impaired, as the fair value of each reporting unit exceeded its carrying value.

The changes in carrying amount of goodwill during the three months ended March 31, 2020 were as follows (in thousands):

Balance as of December 31, 2019	$	104,589
Effect of currency translation	(613)
Balance as of March 31, 2020	$	103,976

Intangible assets at March 31, 2020 and December 31, 2019 consisted of the following (dollars in thousands):

	March 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Life
Business relationships	$	9,918	$	(3,086)	$	6,832	8.4	years
Developed technology	7,709		(5,326)		2,383		2.0	years
Content	3,780		(3,780)		—		0.0	years
Domains and data licenses	2,869		(2,780)		89		1.7	years
Trademarks	877		(877)		—		0.0	years
User relationships	146		(146)		—		0.0	years
Total	$	25,299	$	(15,995)	$	9,304

	December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Life
Business relationships	$	9,918	$	(2,841)	$	7,077	8.6	years
Developed technology	7,832		(4,959)		2,873		2.2	years
Content	3,814		(3,814)		—		0.0	years
Domain and data licenses	2,869		(2,748)		121		1.7	years
Trademarks	877		(872)		5		0.2	years
User relationships	146		(140)		6		0.2	years
Total	$	25,456	$	(15,374)	$	10,082

Amortization expense was $0.7 million and $0.9 million for the three months ended March 31, 2020 and 2019, respectively.

As a result of COVID-19, the Company identified a number of impairment indicators and performed a recoverability test for certain intangible assets. The Company recorded an immaterial impairment charge related to developed technology during the three months ended March 31, 2020 as a result of that assessment. No change to the useful life of any intangible assets were made.

As of March 31, 2020, the estimated future amortization of purchased intangible assets for (i) the remaining nine months of 2020, (ii) each of the succeeding five years, and (iii) thereafter was as follows (in thousands):

Year Ending December 31,	Amount
2020 (from April 1, 2020)	$	1,697
2021	2,203
2022	1,031
2023	714
2024	708
2025	708
Thereafter	2,243
Total amortization	$	9,304