Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill represents the excess of the purchase price of an acquired business over the estimated fair values of the underlying net tangible and intangible assets. Goodwill is allocated to the Company’s one reportable segment, which is its only reporting unit.

The Company’s intangible assets, net consisted of the following:

		September 30, 2020							December 31, 2019
	Useful life			Accumulated							Accumulated
	(years)	Cost		amortization			Net		Cost		amortization			Net
Customer lists	5 - 15	$	113,357	$	(58,326	)	$	55,031	$	113,357	$	(50,457	)	$	62,900
Patents and    technology	3 - 10		23,424		(14,727	)		8,697		23,424		(13,044	)		10,380
Trade names and    trademarks	1 - 2		3,003		(3,003	)		—		3,003		(3,003	)		—
		$	139,784	$	(76,056	)	$	63,728	$	139,784	$	(66,504	)	$	73,280

At September 30, 2020, the weighted-average amortization period for the intangible assets was 10.5 years. At September 30, 2020, the weighted-average amortization periods for customer lists, patents and technology and trade names and trademarks were 10.9, 9.3 and 1.2 years, respectively.

Amortization expense was $3,184 and $3,250 for the quarters ended September 30, 2020 and 2019, respectively. Amortization expense was $9,552 and $9,735 for the nine months ended September 30, 2020 and 2019, respectively.

Estimated future amortization expense for intangible assets as of September 30, 2020 was follows:

	Amount
2020 (remaining)	$	3,169
2021		12,112
2022		11,686
2023		11,408
2024		11,122
2025		4,432
Thereafter		9,799
	$	63,728