Intangible assets and goodwill

9 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

The gross carrying amount and associated accumulated amortization of intangible assets were as follows as of October 31, 2020 and January 31, 2020:


(in thousands)	October 31, 2020		January 31, 2020
Amortizable intangible assets:
Software and software development costs	$	116,206	$	76,221
Acquired HSA portfolios	121,159		92,770
Acquired customer relationships	601,381		601,381
Acquired developed technology	96,925		96,925
Acquired trade names	12,300		12,300
Amortizable intangible assets, gross	947,971		879,597
Accumulated amortization	(172,276)		(98,851)
Total amortizable intangible assets, net	775,695		780,746
Acquired in process software development costs	616		2,533
Total intangible assets, net	$	776,311	$	783,279

During the three months ended October 31, 2020 and 2019, the Company expensed a total of $10.5 million and $6.2 million, respectively, and $31.1 million and $13.8 million for the nine months ended October 31, 2020 and 2019, respectively, in software development costs primarily related to the post-implementation and operation stages of its proprietary software.

Amortization expense for the three months ended October 31, 2020 and 2019 was $25.3 million and $15.7 million, respectively, and $73.5 million and $23.6 million for the nine months ended October 31, 2020 and 2019, respectively.

Goodwill

During the three and nine months ended October 31, 2020, goodwill decreased by $7.0 million and $5.8 million, respectively, due to measurement period adjustments related to the Acquisition of WageWorks.