Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the Company’s goodwill balance for the nine months ended September 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	273
Foreign currency translation adjustment	(1,721)
Balance at September 30, 2020	$	383,336

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
September 30, 2020:
Customer relationships	1-10	$	312,603	$	79,161	$	233,442
Trade name	1.5-10	9,093		4,495		4,598
Developed technology	4-9	77,807		30,821		46,986
Non-compete agreements	3	1,148		862		286
Total intangible assets		$	400,651	$	115,339	$	285,312

	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

As of September 30, 2020, the 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	$	10,933
2021	42,822
2022	40,290
2023	38,244
2024	35,603
2025 and thereafter	117,420
Total	$	285,312