Basis of Presentation, Summary of Significant Accounting Policies and Change in Accounting Principle (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of restricted cash and cash equivalents

Restricted cash and restricted investments include cash and investments used to collateralize various contractual obligations (in thousands) as follows:



	March 31, 2020		December 31, 2019
Collateral for letters of credit for facility leases ⁽¹⁾	$	3,610	$	3,610
Collateral with financial institutions ⁽²⁾	5,745		5,742
Claims processing services ⁽³⁾	51,849		18,171
Other	1,467		817
Total restricted cash and restricted investments	$	62,671	$	28,340

Current restricted investments	$	704	$	704
Current restricted cash	53,705		19,376
Total current restricted cash and restricted investments	$	54,409	$	20,080

Non-current restricted investments	$	113	$	113
Non-current restricted cash	8,149		8,147
Total non-current restricted cash and restricted investments	$	8,262	$	8,260

⁽¹⁾ Represents restricted cash related to collateral for letters of credit required in conjunction with lease agreements. See Note 11 for further discussion of our lease commitments.

⁽²⁾ Represents collateral held with financial institutions for risk-sharing and other arrangements. As of March 31, 2020 and December 31, 2019, approximately $1.0 million of the collateral amount was held in a trust account and invested in money market funds related to risk-sharing arrangements. The amounts invested in money market funds are considered restricted cash and are carried at fair value, which approximates cost. See Note 17 for discussion of fair value measurement and Note 10 for discussion of our risk-sharing arrangements. As of both March 31, 2020 and December 31, 2019, approximately $4.7 million, of the collateral amounts were held in a FDIC participating bank account.

⁽³⁾ Represents cash held by the Company related to claims processing services on behalf of partners. These are pass-through amounts and can fluctuate materially from period to period depending on the timing of when the claims are processed.

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the statements of cash flows.



	March 31,
	2020			2019
Cash and cash equivalents	$	67,944		$	170,817
Restricted cash and restricted investments	62,671			57,956
Restricted investments included in restricted cash and restricted investments	(817		)	(1,319		)
Total cash and cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	129,798		$	227,454

Schedule of intangible assets

The following summarizes the estimated useful lives by asset classification:



Corporate trade name	10-20 years
Customer relationships	10-25 years
Technology	5 years
Provider network contracts	5 years

Details of our intangible assets (in thousands) are presented below:



	March 31, 2020							December 31, 2019
	Weighted- Average Remaining Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Corporate trade name	13.9	$	23,300	$	5,236	$	18,064	14.2	$	23,300	$	4,891	$	18,409
Customer relationships	19.7	281,219		47,354		233,865		16.8	291,519		44,750		246,769
Technology	1.7	82,922		54,259		28,663		2.0	82,922		49,760		33,162
Below market lease, net	3.7	1,118		498		620		2.2	2,048		1,334		714
Provider network contracts	3.5	14,475		4,060		10,415		3.7	12,725		3,320		9,405
Total intangible assets, net		$	403,034	$	111,407	$	291,627		$	412,514	$	104,055	$	308,459