Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of components of intangible assets

The following table provides the components of the Company’s intangible assets (in thousands, except weighted average amortization period in years):


	Weighted
	Average	As of December 31, 2017						As of December 31, 2016
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	12.5	$	181,567	$	(62,218)	$	119,349	$	224,167	$	(115,027)	$	109,140
Other intangible assets:
Software (a)	4.6	$	13,762	$	(8,111)	$	5,651	$	13,207	$	(7,154)	$	6,053
Trademarks	10.2		1,539		(902)		637		3,102		(1,782)		1,320
Non-compete	10.0		2,500		(312)		2,188		2,500		(62)		2,438
Total other intangible assets	6.4	$	17,801	$	(9,325)	$	8,476	$	18,809	$	(8,998)	$	9,811

(a)

As of December 31, 2017 and December 31, 2016, capitalized software development costs of $0.6 million and $0.4 million, respectively, were recorded in “Other intangible assets” in the accompanying Consolidated Balance Sheets. As of these dates, the associated information technology infrastructure projects were not complete and ready for their intended use and thus were not subject to amortization.

Schedule of estimated future amortization of intangible assets, other than goodwill

As of December 31, 2017, the estimated future amortization expense for the next five years related to intangible assets with definite lives is as follows (in thousands):


Year ending December 31:
2018	$	17,614
2019		17,482
2020		17,288
2021		16,775
2022		14,511
	$	83,670

Schedule of changes to goodwill

The following table presents changes to goodwill for the period from January 1, 2016 to December 31, 2017 (in thousands):


Balance, January 1, 2016	$	71,871
Goodwill recognized related to acquisitions		54,665
Effect of changes in foreign currency exchange rates		97
Balance, December 31, 2016		126,633
Goodwill recognized related to current year acquisitions		12,220
Adjustments to acquisition accounting during the measurement period		(3,865)
Effect of changes in foreign currency exchange rates		225
Balance, December 31, 2017	$	135,213