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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill, allocated by operating segments, were as follows (see Note 15):
(In thousands)
 
Payment
Services -
Puerto Rico & Caribbean
 
Payment
Services -
Latin America
 
Merchant
Acquiring, net
 
Business
Solutions
 
Total
Balance at December 31, 2019
 
$
160,972

 
$
54,571

 
$
138,121

 
$
45,823

 
$
399,487

Foreign currency translation adjustments
 
—

 
(4,439
)
 
—

 
—

 
(4,439
)
Balance at September 30, 2020
 
$
160,972


$
50,132


$
138,121


$
45,823


$
395,048



Goodwill is tested for impairment on an annual basis as of August 31, or more often if events or changes in circumstances indicate there may be impairment. The Company may test for goodwill impairment using a qualitative or a quantitative analysis. In the quantitative analysis, the Company compares the estimated fair value of the reporting units to their carrying values, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is
not considered impaired. If the fair value does not exceed the carrying value, an impairment loss is recorded for the excess of the carrying value over the fair value, limited to the recorded balance of goodwill. No impairment losses were recognized as of September 30, 2020.

The carrying amount of other intangible assets at September 30, 2020 and December 31, 2019 was as follows:
 
 
 
 
September 30, 2020
(Dollar amounts in thousands)
 
Useful life in years
 
Gross
amount
 
Accumulated
amortization
 
Net carrying
amount
Customer relationships
 
8 - 14
 
$
343,489

 
$
(239,718
)
 
$
103,771

Trademarks
 
10 - 15
 
41,934

 
(35,164
)
 
6,770

Software packages
 
3 - 10
 
278,609

 
(185,911
)
 
92,698

Non-compete agreement
 
15
 
56,539

 
(37,693
)
 
18,846

Other intangible assets, net
 
 
 
$
720,571

 
$
(498,486
)
 
$
222,085

 
 
 
 
December 31, 2019
(Dollar amounts in thousands)
 
Useful life in years
 
 Gross
amount
 
Accumulated
amortization
 
Net carrying
amount
Customer relationships
 
8 - 14
 
$
344,883

 
$
(220,434
)
 
$
124,449

Trademarks
 
2 - 15
 
42,025

 
(32,456
)
 
9,569

Software packages
 
3 - 10
 
256,220

 
(169,974
)
 
86,246

Non-compete agreement
 
15
 
56,539

 
(34,866
)
 
21,673

Other intangible assets, net
 
 
 
$
699,667

 
$
(457,730
)
 
$
241,937



Amortization expense related to other intangibles for the three and nine months ended September 30, 2020 amounted to $13.7 million and $40.8 million, respectively, compared to $12.9 million and $38.0 million for the corresponding periods in 2019.

The estimated amortization expense of the balances outstanding at September 30, 2020 for the next five years is as follows:
(Dollar amounts in thousands)
Remaining 2020
 
$
12,859

2021
 
48,703

2022
 
42,899

2023
 
37,704

2024
 
29,156