GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of the activity related to the carrying value of goodwill

The following table summarizes the activity related to the carrying value of our goodwill during the years ended December 31, 2019 and 2018 (in thousands):

Goodwill as of January 1, 2018	$	184,932
Goodwill recorded in connection with the acquisition of ABILITY	771,097
Goodwill as of December 31, 2018	956,029
Adjustments recorded in connection with the acquisition of ABILITY(1)	(148		)
Goodwill as of December 31, 2019	$	955,881

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(1)

During 2019, the Company finalized the working capital adjustments for ABILITY. The adjustments had no impact on the Company’s revenues or expenses. Based on our assessments of qualitative and quantitative factors, the adjustments were not considered to be material to our consolidated financial statements, individually or in the aggregate, to any previously issued consolidated financial statements.

Schedule of intangible assets

Intangible assets at December 31, 2019 and 2018 were as follows (in thousands):

	December 31, 2019
	Gross		Accumulated Amortization			Net		Weighted Average Remaining Useful Life (years)
Technology	$	116,177	$	(38,597	)	$	77,580	11.0
Trademark and trade names	31,860		(9,363		)	22,497		13.0
Database	6,500		(6,500		)	—		0.0
Customer relationships	480,950		(97,986		)	382,964		10.6
Non-compete agreements	820		(820		)	—		0.0
Total	$	636,307	$	(153,266	)	$	483,041

	December 31, 2018
	Gross		Accumulated Amortization			Net		Weighted Average Remaining Useful Life (years)
Technology(1)	$	116,177	$	(28,882	)	$	87,295	11.7
Trademark and tradenames	31,860		(6,415		)	25,445		13.4
Database	6,500		(6,012		)	488		0.7
Customer relationships	480,950		(58,835		)	422,115		11.6
Non-compete agreements	820		(820		)	—		0.0
Total	$	636,307	$	(100,964	)	$	535,343

______________________________________

(1)

Upon completion of the development process of our in-process R&D the Company performed an impairment assessment and determined there was no impairment. As such, $1.6 million of in-process R&D was reclassified to a definite-lived technology intangible asset upon being placed into service. The Company evaluated the useful life of the asset resulting from the R&D activities pursuant to ASC 350 and determined a useful life of 5 years was appropriate based on the period over which the asset is expected to contribute to future cash flows. The Company began amortizing the asset over the useful life on the date the asset was placed into service.

Schedule of indefinite-lived intangible assets

Intangible assets at December 31, 2019 and 2018 were as follows (in thousands):

	December 31, 2019
	Gross		Accumulated Amortization			Net		Weighted Average Remaining Useful Life (years)
Technology	$	116,177	$	(38,597	)	$	77,580	11.0
Trademark and trade names	31,860		(9,363		)	22,497		13.0
Database	6,500		(6,500		)	—		0.0
Customer relationships	480,950		(97,986		)	382,964		10.6
Non-compete agreements	820		(820		)	—		0.0
Total	$	636,307	$	(153,266	)	$	483,041

	December 31, 2018
	Gross		Accumulated Amortization			Net		Weighted Average Remaining Useful Life (years)
Technology(1)	$	116,177	$	(28,882	)	$	87,295	11.7
Trademark and tradenames	31,860		(6,415		)	25,445		13.4
Database	6,500		(6,012		)	488		0.7
Customer relationships	480,950		(58,835		)	422,115		11.6
Non-compete agreements	820		(820		)	—		0.0
Total	$	636,307	$	(100,964	)	$	535,343

______________________________________

(1)

Upon completion of the development process of our in-process R&D the Company performed an impairment assessment and determined there was no impairment. As such, $1.6 million of in-process R&D was reclassified to a definite-lived technology intangible asset upon being placed into service. The Company evaluated the useful life of the asset resulting from the R&D activities pursuant to ASC 350 and determined a useful life of 5 years was appropriate based on the period over which the asset is expected to contribute to future cash flows. The Company began amortizing the asset over the useful life on the date the asset was placed into service.

Schedule of estimated future amortization expense of intangible assets

Estimated future amortization expense of intangible assets, based upon the Company’s intangible assets at December 31, 2019, is as follows (in thousands):

	Amount
Year ending December 31:
2020	$	50,821
2021	48,035
2022	48,035
2023	47,874
2024	46,574
Thereafter	241,702
Total	$	483,041