Capitalized Software Development Costs (Notes)

6 Months Ended

Jun. 30, 2020

Capitalized Software Development Costs Disclosure [Abstract]

Research, Development, and Computer Software Disclosure [Text Block]

Capitalized Software Development Costs

In accordance with ASC 350-40 “Internal-Use Software” and/or ASC 350-985 “Software”, the Company capitalizes certain qualifying software and product related development costs associated with the Company’s continuing medical education service offerings, development of the Property and Casualty underwriting insurance data exchange platform servicing the London

markets, development of EbixCash’s SaaS-based Asset Management and Collection platforms, development of EbixCash’s single sign on agent and customer portal (including mobile application) and content development work related to the E-Learning business of EbixCash. During the three and six months ended June 30, 2020 the Company capitalized $1.2 million and $3.3 million, respectively, and $848 thousand and $2.6 million for the three and six month periods ended June 30, 2019, respectively, of such development costs. At June 30, 2020 and December 31, 2019, a total of $19.7 million and $19.2 million of remaining unamortized development costs are reported on the Company’s Condensed Consolidated Balance Sheets, respectively.

During the three months ended June 30, 2020 and 2019, the Company recognized $837 thousand and $647 thousand, respectively, of amortization expense with regards to these capitalized software development costs, which is included in costs of services provided in the Company’s Condensed Consolidated Statements of Income. During the three and six months ended June 30, 2020, the Company recognized $837 thousand and $1.7 million, respectively, of amortization expense with regards to these capitalized software development costs, which is included in costs of services provided in the Company’s Condensed Consolidated Statements of Income. During the three and six month periods ended June 30, 2019, related amortization expense was $647 thousand and $1.2 million, respectively.