Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table sets forth the changes in the carrying amount of goodwill for the Company for nine months ended September 30, 2021 and 2020:


(in thousands, except years)	Marketing Services		SaaS		Total
Balance as of December 31, 2019	$	390,573	$	218,884	$	609,457
Additions	—		—		—
Impairments	—		—		—
Balance as of December 31, 2020	$	390,573	$	218,884	$	609,457


(in thousands, except years)	Marketing Services		SaaS		Thryv International		Total
Balance as of December 31, 2020	$	390,573	$	218,884	$	—	$	609,457
Thryv Australia Acquisition	—		—		72,051		72,051
Effects of foreign currency translation	—		—		(5,068)		(5,068)
Balance as of September 30, 2021	$	390,573	$	218,884	$	66,983	$	676,440

As of March 31, 2020, the Company determined that a goodwill impairment evaluation triggering event occurred due to the economic downturn caused by COVID-19. As of March 31, 2020, the Company performed its goodwill impairment test at the reporting unit level. No impairment charges were recorded in connection with the interim impairment test.

The Company performed its annual quantitative assessment as of October 1, 2020 and determined that no impairment existed. Additionally, the Company concluded that an impairment triggering event did not occur during the three or nine months ended September 30, 2021.

Intangible Assets

The following tables set forth the details of the Company's intangible assets as of September 30, 2021 and December 31, 2020:


	As of September 30, 2021
(in thousands)	Gross		Accumulated Amortization		Effects of Foreign Currency Translation		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	803,642	$	(734,730)	$	(5,702)	$	63,210	2.9
Trademarks and domain names	225,177		(187,518)		(1,491)		36,168		2.1
Patented technologies	19,600		(19,600)		—		—		0.0
Covenants not to compete	3,001		(1,190)		—		1,811		2.4
Total intangible assets	$	1,051,420	$	(943,038)	$	(7,193)	$	101,189	2.6


	As of December 31, 2020
(in thousands)	Gross		Accumulated Amortization		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	701,802	$	(701,518)	$	284	1.4
Trademarks and domain names	200,300		(169,545)		30,755		2.0
Patented technologies	19,600		(19,600)		—		0.0
Covenants not to compete	1,497		(759)		738		1.8
Total intangible assets	$	923,199	$	(891,422)	$	31,777	2.0

Amortization expense for intangible assets for the three and nine months ended September 30, 2021 was $21.3 million and $52.5 million, respectively. Amortization expense for the three and nine months ended September 30, 2020 was $28.9 million and $86.7 million, respectively.

Estimated aggregate future amortization expense by fiscal year for the Company's intangible assets is as follows:


(in thousands)	Estimated Future Amortization Expense
2021	$	20,477
2022	49,672
2023	21,359
2024	9,681
Total	$	101,189