Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The change in goodwill from December 31, 2019 to March 31, 2020, consists of the following (in thousands):

	Carrying Value
Balance at December 31, 2019	$	495,724
Goodwill acquired	—
Purchase price allocation adjustments from prior periods	89
Impact of foreign currency exchange rates	(2,745)
Balance at March 31, 2020	$	493,068

Identifiable intangible assets that are separable and have determinable useful lives are valued separately and amortized over their benefit period. The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Tradenames	$	15,980	$	(14,348)	$	1,632	$	15,980	$	(13,563)	$	2,417
Customer relationships	266,577		(166,757)		99,820		267,781		(156,337)		111,444
	$	282,557	$	(181,105)	$	101,452	$	283,761	$	(169,900)	$	113,861

On January 1, 2019, the Company reclassified certain other intangible assets related to real estate leases to right-of-use assets in accordance with the applicable transition guidance in ASC 840, the predecessor to ASU No. 2016-02 — Leases (Topic 842).

The weighted average amortization period of these intangible assets in the aggregate is 3.8 years.