Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018						As of December 31, 2017
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	12.5	$	180,867	$	(66,085)	$	114,782	$	181,567	$	(62,218)	$	119,349
Other intangible assets:
Software(a)	4.4	$	13,357	$	(7,903)	$	5,454	$	13,762	$	(8,111)	$	5,651
Trademarks	10.2		1,334		(682)		652		1,539		(902)		637
Non-compete	10.0		2,500		(375)		2,125		2,500		(312)		2,188
Other - booj(b)			7,875		—		7,875		—		—		—
Total other intangible assets	6.3	$	25,066	$	(8,960)	$	16,106	$	17,801	$	(9,325)	$	8,476

(a)

As of March 31, 2018 and December 31, 2017, capitalized software development costs of $0.7 million and $0.6 million, respectively, were related to information technology infrastructure projects not yet complete and ready for their intended use and thus were not subject to amortization.

(b)

Includes the preliminary intangible assets assumed with the acquisition of booj. See Note 6, Acquisitions for additional information.

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

As of March 31, 2018 the estimated future amortization expense for the next five years related to intangible assets includes the preliminary intangible assets assumed with the acquisition of booj and is as follows (in thousands):


As of March 31, 2018:
Remainder of 2018	$	14,206
2019		18,762
2020		18,561
2021		18,112
2022		15,797
	$	85,438

Schedule of changes to goodwill

The following table presents changes to goodwill for the period from January 1, 2018 to March 31, 2018 (in thousands):



Balance, January 1, 2018	$	135,213
Goodwill recognized related to current year acquisitions		18,375
Adjustments to acquisition accounting during the measurement period		700
Effect of changes in foreign currency exchange rates		(92)
Balance, March 31, 2018	$	154,196