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Goodwill and Other Intangible Assets
9 Months Ended
Sep. 30, 2019
Goodwill and Other Intangible Assets  
Goodwill and Other Intangible Assets

7. Goodwill and Other Intangible Assets

 

The Company reports all of its goodwill in its U.S. Debit and Credit segment at September 30, 2019 and December 31, 2018.

 

Intangible assets consist of customer relationships, technology and software, non-compete agreements and trademarks. Intangible amortization expense was $1,159 and $1,164 for the three months ended September 30, 2019 and 2018, respectively, and $3,487 and $3,492 for the nine months ended September 30, 2019 and 2018, respectively. 

 

At September 30, 2019 and December 31, 2018, intangible assets, excluding goodwill, were comprised of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2019

 

December 31, 2018

 

 

Average Life

 

 

 

 

Accumulated

 

Net Book

 

 

 

 

Accumulated

 

Net Book

 

 

(Years)

 

Cost

 

Amortization

 

Value

 

Cost

 

Amortization

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

    

12

to

20

    

$

55,454

    

$

(28,045)

    

$

27,409

    

$

55,454

    

 

(25,587)

    

$

29,867

Technology and software

 

 7

to

10

 

 

7,101

 

 

(4,720)

 

 

2,381

 

 

7,101

 

 

(4,024)

 

 

3,077

Trademarks

 

7.5

to

10

 

 

3,330

 

 

(1,169)

 

 

2,161

 

 

3,330

 

 

(877)

 

 

2,453

Non-compete agreements

 

 5

to

 8

 

 

491

 

 

(491)

 

 

 —

 

 

491

 

 

(451)

 

 

40

Intangible assets subject to amortization

 

 

 

 

 

$

66,376

 

$

(34,425)

 

$

31,951

 

$

66,376

 

$

(30,939)

 

$

35,437

 

The estimated future aggregate amortization expense for the identified amortizable intangibles noted above as of September 30, 2019 was as follows:

 

 

 

 

 

2019

 

$

1,150

2020

    

 

4,595

2021

 

 

4,352

2022

 

 

3,867

2023

 

 

3,867

Thereafter

 

 

14,120

 

 

$

31,951