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Acquisitions, Intangible Assets and Goodwill
 9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquisitions, Intangible Assets and Goodwill
Acquisitions, Intangible Assets and Goodwill
Acquisitions
In October 2017, we acquired Newgistics for $471 million, net of cash acquired. The results of Newgistics are included in our consolidated operating results from the date of acquisition. Our consolidated revenue for the three and nine months ended September 30, 2018 includes $126 million and $384 million, respectively, from Newgistics. On a supplemental pro forma basis, had we acquired Newgistics on January 1, 2017, our revenues would have been $106 million and $340 million higher for the three and nine months ended September 30, 2017, respectively. The impact on our earnings would not have been material.
Intangible Assets
Intangible assets at September 30, 2018 and December 31, 2017 consisted of the following:
 
September 30, 2018
 
December 31, 2017
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Customer relationships
$
481,422

 
$
(273,388
)
 
$
208,034

 
$
504,716

 
$
(271,066
)
 
$
233,650

Software & technology
165,692

 
(142,747
)
 
22,945

 
167,122

 
(138,724
)
 
28,398

Trademarks & other
40,312

 
(33,124
)
 
7,188

 
40,649

 
(30,511
)
 
10,138

Total intangible assets
$
687,426

 
$
(449,259
)
 
$
238,167

 
$
712,487

 
$
(440,301
)
 
$
272,186



Amortization expense was $11 million and $8 million for the three months ended September 30, 2018 and 2017, respectively and $33 million and $24 million for the nine months ended September 30, 2018 and 2017, respectively.
Future amortization expense as of September 30, 2018 was as follows:
Remaining for year ending December 31, 2018
$
15,092

Year ending December 31, 2019
38,021

Year ending December 31, 2020
33,721

Year ending December 31, 2021
29,989

Year ending December 31, 2022
29,012

Thereafter
92,332

Total
$
238,167


Actual amortization expense may differ from the amounts above due to, among other things, fluctuations in foreign currency exchange rates, impairments, acquisitions and accelerated amortization.
Goodwill
Changes in the carrying value of goodwill, by reporting segment, for the nine months ended September 30, 2018 are shown in the table below.
 
December 31, 2017
 
Acquisitions
 
Other(1)
 
September 30,
2018
Global Ecommerce
$
602,461

 
$
—

 
$
(653
)
 
$
601,808

Presort Services
204,781

 
2,684

 
—

 
207,465

Commerce Services
807,242

 
2,684

 
(653
)
 
809,273

North America Mailing
368,905

 
—

 
(219
)
 
368,686

International Mailing
158,203

 
—

 
(7,456
)
 
150,747

Small & Medium Business Solutions
527,108

 
—

 
(7,675
)
 
519,433

Software Solutions
440,295

 
—

 
(3,918
)
 
436,377

Total goodwill
$
1,774,645

 
$
2,684

 
$
(12,246
)
 
$
1,765,083


(1) Primarily represents foreign currency translation adjustments.