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Intangibles Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2018
Intangibles Assets and Goodwill  
Schedule of intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

Gross Carrying

 

 

 

Intangible

 

    

Amount (a)

    

Amortization

    

Asset, net

Customer relationships

 

$

507,905

 

$

(190,666)

 

$

317,239

Developed technology

 

 

89,053

 

 

(85,967)

 

 

3,086

Trade names  (b)

 

 

9,400

 

 

(3,100)

 

 

6,300

Outsource contract costs

 

 

46,342

 

 

(27,719)

 

 

18,623

Internally developed software

 

 

36,820

 

 

(6,278)

 

 

30,542

Trademarks

 

 

23,379

 

 

(23,370)

 

 

 9

Non compete agreements

 

 

1,350

 

 

(1,350)

 

 

 —

Assembled workforce

 

 

4,473

 

 

 —

 

 

4,473

Purchased software

 

 

26,749

 

 

 —

 

 

26,749

Intangibles, net

 

$

745,471

 

$

(338,450)

 

$

407,021

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

 

Gross Carrying

 

 

 

Intangible

 

    

Amount (a)

    

Amortization

    

Asset, net

Customer relationships

 

$

504,643

 

$

(135,962)

 

$

368,681

Developed technology

 

 

89,076

 

 

(77,103)

 

 

11,973

Trade names  (c)

 

 

13,100

 

 

 —

 

 

13,100

Outsource contract costs

 

 

40,456

 

 

(17,526)

 

 

22,930

Internally developed software

 

 

28,254

 

 

(2,597)

 

 

25,657

Trademarks

 

 

23,370

 

 

(1,446)

 

 

21,924

Non compete agreements

 

 

1,350

 

 

(631)

 

 

719

Intangibles, net

 

$

700,249

 

$

(235,265)

 

$

464,984

(a)

Amounts include intangibles acquired in the Novitex and Asterion Business Combination. See Note 3-Business Combinations.

(b)

The carrying amount of trade names for 2018 is net of accumulated impairment losses of $43.1 million, of which $3.7 million was recognized in 2018.

(c)

The carrying amount of trade names for 2017 is net of accumulated impairment losses of $39.4 million, of which $39.4 million was recognized in 2017.
Schedule of estimated intangibles amortization expense

 

 

 

 

 

 

Estimated

 

 

Amortization

 

    

Expense

2019

 

$

64,685

2020

 

 

58,363

2021

 

 

50,077

2022

 

 

44,687

2023

 

 

35,929

Thereafter

 

 

147,107

 

 

$

400,848

 

Schedule of goodwill by reporting segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currency

 

 

 

 

 

 

 

 

 

 

 

 

 

 

translation

 

 

 

 

    

Goodwill

    

Additions

    

Reductions

    

adjustments

    

Goodwill(a)

ITPS

 

$

159,394

 

$

406,522

(c)

$

 —

 

$

299

 

$

566,215

HS

 

 

86,786

 

 

 —

 

 

 —

 

 

 —

 

 

86,786

LLPS

 

 

127,111

 

 

 —

 

 

(32,787)

(b)

 

 —

 

 

94,324

Balance as of December 31, 2017

 

$

373,291

 

$

406,522

 

$

(32,787)

 

$

299

 

$

747,325

ITPS

 

$

566,215

 

$

5,580

(d)

$

 —

 

$

(220)

 

$

571,575

HS

 

 

86,786

 

 

 —

 

 

 —

 

 

 —

 

 

86,786

LLPS

 

 

94,324

 

 

 —

 

 

(44,427)

(e)

 

 —

 

 

49,897

Balance as of December 31, 2018

 

$

747,325

 

$

5,580

 

$

(44,427)

 

$

(220)

 

$

708,258

(a)

The carrying amount of goodwill for all periods presented is net of accumulated impairment losses of $137.9 million. 

(b)

The reduction in goodwill is due to $30.1 million for impairment recorded in the fourth quarter of 2017 and $2.7 million for the sale of Meridian Consulting Group, LLC in the first quarter of 2017. 

(c)

Addition to goodwill is primarily the result of the Novitex Business Combination (Refer to note 4), which resulted in $406.1 million of goodwill.

(d)

Addition to goodwill due to the Asterion Business Combination (Refer to note 4) and immaterial acquisitions in the third and fourth quarter of 2018.

(e)

The reduction in goodwill is due to $44.4 million, including taxes, for impairment recorded in the fourth quarter of 2018.