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Intangibles Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2019
Intangibles Assets and Goodwill  
Schedule of intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

Gross Carrying

 

 

 

Intangible

 

    

Amount (a)

    

Amortization

    

Asset, net

Customer relationships

 

$

508,074

 

$

(237,313)

 

$

270,761

Developed technology

 

 

89,053

 

 

(87,109)

 

 

1,944

Trade names  (b)

 

 

8,400

 

 

(3,100)

 

 

5,300

Outsource contract costs

 

 

16,726

 

 

(11,749)

 

 

4,977

Internally developed software

 

 

43,261

 

 

(12,129)

 

 

31,132

Trademarks

 

 

23,378

 

 

(23,370)

 

 

 8

Non-compete agreements

 

 

1,350

 

 

(1,350)

 

 

 —

Assembled workforce

 

 

4,473

 

 

(1,118)

 

 

3,355

Purchased software

 

 

26,749

 

 

(1,783)

 

 

24,966

Intangibles, net

 

$

721,464

 

$

(379,021)

 

$

342,443

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018
(As Restated)

 

 

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  (c)

 

 

9,400

 

 

(3,100)

 

 

6,300

Outsource contract costs

 

 

15,439

 

 

(8,817)

 

 

6,622

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

 

$

714,568

 

$

(319,548)

 

$

395,020

(a)

Amounts include intangibles acquired in business combinations and asset acquisitions.

(b)

The carrying amount of trade names for 2019 is net of accumulated impairment losses of $44.1 million, of which $1.0 million was recognized in 2019.

(c)

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.
Schedule of estimated intangibles amortization expense

 

 

 

 

 

 

Estimated

 

 

Amortization

 

    

Expense

(As Restated)

2020

 

$

55,323

2021

 

 

50,015

2022

 

 

45,535

2023

 

 

37,168

2024

 

 

29,704

Thereafter

 

 

120,163

 

 

$

337,908

 

Schedule of goodwill by reporting segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Beginning of Year Balance (a)

 

 

Additions

 

 

Reductions

 

 

Currency Translation Adjustments

 

 

End of Year Balance (a)

ITPS

 

$

566,215

 

$

5,580

(c)

$

 —

 

$

(220)

 

$

571,575

HS

 

 

86,786

 

 

 —

 

 

 —

 

 

 —

 

 

86,786

LLPS

 

 

94,324

 

 

 —

 

 

(44,427)

(b)

 

 —

 

 

49,897

Total - Year 2018

 

$

747,325

 

$

5,580

 

$

(44,427)

 

$

(220)

 

$

708,258

ITPS

 

 

571,575

 

 

 —

 

 

(317,525)

(d)

 

70

 

 

254,120

HS

 

 

86,786

 

 

 —

 

 

 —

 

 

 —

 

 

86,786

LLPS

 

 

49,897

 

 

 —

 

 

(31,032)

(e)

 

 —

 

 

18,865

Total - Year 2019

 

$

708,258

 

$

 —

 

$

(348,557)

 

$

70

 

$

359,771

(a)

The carrying amount of goodwill for all periods presented is net of accumulated impairment losses of $167.9 million. 

(b)

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

(c)

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

(d)

The reduction in goodwill for the ITPS segment is due to $317.5 million for impairment recorded for the year ended December 31, 2019.

The reduction in goodwill for the LLPS segment is due to $31.0 million for impairment recorded for the year ended December 31, 2019.