5. Intangibles Assets and Goodwill

Intangible Assets

Intangible assets are stated at cost or acquisition-date fair value less accumulated amortization and consists of the following:


	March 31, 2019
	Gross Carrying				Intangible
	Amount (a)		Amortization		Asset, net
Customer relationships	$	507,944	$	(203,822)	$	304,122
Developed technology		89,053		(86,651)		2,402
Trade names (b)		9,400		(3,100)		6,300
Outsource contract costs		52,378		(30,414)		21,964
Internally developed software		39,000		(6,881)		32,119
Trademarks		23,378		(23,370)		8
Non compete agreements		1,350		(1,350)		—
Assembled workforce		4,473		(280)		4,193
Purchased software		26,749		(446)		26,303
Intangibles, net	$	753,725	$	(356,314)	$	397,411


	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

(a)

Amounts include intangible assets acquired in business combinations.

(b)

The carrying amount of trade names for 2019 and 2018 is net of accumulated impairment losses of $43.1 million, of which $3.7 million was recognized in 2018.

Goodwill

Goodwill by reporting segment consists of the following:


										Currency
										Translation
	Goodwill			Additions			Reductions			Adjustments		Goodwill (a)
ITPS	$	566,215	$	5,580	(c)	$			$	(220)	$	571,575
HS		86,786										86,786
LLPS		94,324					(44,427)	(b)				49,897
Balance as of December 31, 2018	$	747,325	$	5,580		$	(44,427)		$	(220)	$	708,258
ITPS		571,575								27		571,602
HS		86,786										86,786
LLPS		49,897										49,897
Balance as of March 31, 2019	$	708,258	$	—		$	—		$	27	$	708,285

(a)

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

(b)

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

(c)

Addition to goodwill due to the acquisition of Asterion International Group (“Asterion” and, “Asterion Business Combination”) and immaterial acquisitions in the third and fourth quarters of 2018.