Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the Company’s goodwill balance for the six months ended June 30, 2020 are summarized in the table below (in thousands):

Balance at December 31, 2019	$	346,134
Acquired in business combinations	39,646
Adjustment related to prior year business combinations	(996)
Adjustment related to finalization of current year business combinations	463
Foreign currency translation adjustment	(5,761)
Balance at June 30, 2020	$	379,486

Summary of Intangible Assets, Net

The following is a summary of the Company’s intangible assets, net (in thousands):

	Estimated Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
June 30, 2020:
Customer relationships	1-10	$	308,385	$	69,974	$	238,411
Trade name	1.5-10	8,966		4,255		4,711
Developed technology	4-9	76,800		27,989		48,811
Non-compete agreements	3	1,148		765		383
Total intangible assets		$	395,299	$	102,983	$	292,316

	Estimated Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
December 31, 2019:
Customer relationships	1-10	$	283,005	$	53,984	$	229,021
Trade name	1.5-10	8,827		3,884		4,943
Developed technology	4-9	71,522		23,333		48,189
Non-compete agreements	3	1,148		574		574
Total intangible assets		$	364,502	$	81,775	$	282,727

Estimated Annual Amortization Expense

Estimated annual amortization expense for the next five years and thereafter is as follows (in thousands):

	Amortization Expense
Year ending December 31:
Remainder of 2020	$	22,079
2021	42,822
2022	40,290
2023	38,244
2024	35,603
2025 and thereafter	113,278
Total	$	292,316