INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Finite-lived Intangibles

The Company has finite-lived intangible assets which are amortized over their estimated useful lives on a straight-line basis. The following table presents the gross carrying amount and accumulated amortization of finite-lived intangible assets (dollars in thousands):


		June 30, 2020										December 31, 2019
	Weighted Average Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	3.2	$	140,153	$	(12,899)	$	127,254	$	39,984	$	(34,268)	$	5,716
Content library	3.8	4,700		(1,405)		3,295		4,700		(976)		3,724
Customer relationships	10.7	295,545		(5,235)		290,310		—		—		—
Customer contracts	1.8	58,491		(5,524)		52,967		—		—		—
Trade names, trademarks, and domain names	2.8	7,199		(453)		6,746		—		—		—
Total		$	506,088	$	(25,516)	$	480,572	$	44,684	$	(35,244)	$	9,440

During the first quarter of 2020, the gross carrying amount and accumulated amortization of fully amortized intangible assets were written off. Amortization of customer relationships and customer contracts is recorded in sales and marketing expense in the accompanying condensed consolidated statements of operations; amortization of trade names, trademarks, and domain names is recorded in general and administration expense; amortization for all other finite-lived intangibles is recorded in cost of revenue. Total amortization expense was $18.5 million and $20.2 million for the three and six months ended June 30, 2020, respectively. Total amortization expense was $1.0 million and $2.3 million for the three and six months ended June 30, 2019, respectively.

The following table presents the Company's estimate of remaining amortization expense for finite-lived intangible assets that existed as of June 30, 2020 (in thousands):


2020 - remaining period	$	48,311
2021	94,942
2022	71,866
2023	50,016
2024	42,224
Thereafter	173,213
Estimated remaining amortization expense	$	480,572

The Company evaluates the recoverability of its long-lived assets with finite useful lives, including intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company does not believe an impairment trigger occurred which would impact the recoverability of the carrying values as of June 30, 2020. There were no impairment charges related to identifiable intangible assets for the six months ended June 30, 2020 and 2019.

Goodwill

The following table presents the carrying amount of goodwill (in thousands):


Balance as of December 31, 2019	$	47,453
Goodwill resulting from acquisitions	914,373
Effect of foreign currency translation	(224)
Balance as of June 30, 2020	$	961,602