Intangibles Assets and Goodwill

3 Months Ended

Mar. 31, 2021

4. 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, 2021
	Gross Carrying		Accumulated		Intangible
	Amount (a)		Amortization		Asset, net
Customer relationships	$	508,396	$	(287,749)	$	220,647
Developed technology		88,553		(87,236)		1,317
Trade names (b)		8,400		(3,100)		5,300
Outsource contract costs		16,447		(13,429)		3,018
Internally developed software		47,878		(21,963)		25,915
Assembled workforce		4,473		(2,516)		1,957
Purchased software		26,749		(4,012)		22,737
Intangibles, net	$	700,896	$	(420,005)	$	280,891


	December 31, 2020
	Gross Carrying		Accumulated		Intangible
	Amount (a)		Amortization		Asset, net
Customer relationships	$	508,485	$	(278,306)	$	230,179
Developed technology		88,553		(87,111)		1,442
Trade names (b)		8,400		(3,100)		5,300
Outsource contract costs		16,331		(13,036)		3,295
Internally developed software		47,182		(20,152)		27,030
Assembled workforce		4,473		(2,237)		2,236
Purchased software		26,749		(3,567)		23,182
Intangibles, net	$	700,173	$	(407,509)	$	292,664

(a)	Amounts include intangible assets acquired in business combinations and asset acquisitions.

(b)	The carrying amount of trade names for 2021 and 2020 is net of accumulated impairment losses of $44.1 million. Carrying amount of $5.3 million as at March 31, 2021 represents indefinite-lived intangible asset.

Goodwill

The Company’s operating segments are significant strategic business units that align its products and services with how it manages its business, approach the markets and interacts with its clients. The Company is organized into three segments: Information & Transaction Processing Solutions (“ITPS”), Healthcare Solutions (“HS”), and Legal & Loss Prevention Services (“LLPS”) (See Note 13).

Goodwill by reporting segment consists of the following:




	Balances as at January 1, 2020 (a)			Additions		Impairments		Currency Translation Adjustments		Balances as at December 31, 2020 (a)
ITPS	$	254,120	$	—	$	—	$	10	$	254,130
HS		86,786		—		—		—		86,786
LLPS		18,865		—		—		—		18,865
Total	$	359,771	$	—	$	—	$	10	$	359,781

	Balances as at January 1, 2021 (a)			Additions		Impairments		Currency Translation Adjustments		Balances as at March 31, 2021 (a)
ITPS	$	254,130	$	—	$	—	$	(472)	$	253,658
HS		86,786		—		—		—		86,786
LLPS		18,865		—		—		—		18,865
Total	$	359,781	$	—	$	—	$	(472)	$	359,309

(a)

The goodwill amount for all periods presented is net of accumulated impairment amount as at December 31, 2019. Accumulated impairment is $317.5 million and $243.4 relating to ITPS and LLPS, respectively, as at December 31, 2019 and March 31, 2021.