Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note 6 — Goodwill and Intangible Assets

Intangible Assets

The Company’s intangible assets were acquired primarily in various acquisitions as well as in connection with the purchase of certain trademarks, brand assets and licensed content. The carrying amounts and accumulated amortization expense of the acquired intangible assets at June 30, 2020 and December 31, 2019 were as follows:

		June 30, 2020						December 31, 2019
	Estimated	Gross		Accumulated		Net		Gross		Accumulated		Net
	Useful	Carrying		Amortization		Carrying		Carrying		Amortization		Carrying
	Life	Value		Expense		Value		Value		Expense		Value
Intangible assets amortized to cost of revenue:
Titles, content and technology	3 - 5 yrs	$	21,117	$	(18,134)	$	2,983	$	21,117	$	(16,359)	$	4,758
Customer contracts and related relationships	5 yrs		700		(700)		—		700		(700)		—
Trademarks	7 yrs		5,000		(5,000)		—		5,000		(5,000)		—
		$	26,817	$	(23,834)	$	2,983	$	26,817	$	(22,059)	$	4,758

Acquisition-related intangibles included in the above table are finite-lived and are being amortized on a straight-line basis over their estimated useful lives, which approximate the pattern in which the economic benefits of the intangible assets are realized. The Company has included amortization of acquired intangible assets directly attributable to revenue-generating activities in cost of revenue.

During the three months ended June 30, 2020 and 2019, the Company recorded amortization expense in cost of revenue of $887 and $1,056, respectively. During the six months ended June 30, 2020 and 2019, the Company recorded amortization expense in cost of revenue of $1,775 and $2,308, respectively.

As of June 30, 2020, total expected future amortization related to intangible assets was as follows:

	Amortization
	to Be Included in
	Cost of
Year Ending December 31,	Revenue
2020 (remaining 6 months)	$	1,483
2021		1,500
Total intangible assets	$	2,983

Goodwill

The Company had $116,227 in goodwill as of June 30, 2020 and December 31, 2019, respectively. There were no indicators of impairment as of June 30, 2020.