Intangible Assets and Goodwill

6 Months Ended

May 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets are comprised of the following significant classes (in thousands):



	May 31, 2019							November 30, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
Purchased technology	$	179,601	$	(114,703	)	$	64,898	$	154,301	$	(110,959	)	$	43,342
Customer-related	134,242		(62,543		)	71,699		67,802		(56,589		)	11,213
Trademarks and trade names	27,340		(14,973		)	12,367		17,740		(13,376		)	4,364
Non-compete agreement	2,000		(57		)	1,943		—		—			—
Total	$	343,183	$	(192,276	)	$	150,907	$	239,843	$	(180,924	)	$	58,919

In the three and six months ended May 31, 2019, amortization expense related to intangible assets was $10.7 million and $19.3 million, respectively. In the three and six months ended May 31, 2018, amortization expense related to intangible assets was $9.2 million and $18.4 million, respectively.

The increase in intangible assets during fiscal year 2019 is related to the acquisition of Ipswitch in April 2019 (Note 6).

Future amortization expense for intangible assets as of May 31, 2019, is as follows (in thousands):



Remainder of 2019	$	28,762
2020	32,679
2021	32,559
2022	25,937
2023	21,860
Thereafter	9,110
Total	$	150,907

Goodwill

Changes in the carrying amount of goodwill in the six months ended May 31, 2019 are as follows (in thousands):



Balance, November 30, 2018	$	314,992
Additions	117,651
Translation adjustments	(20		)
Balance, May 31, 2019	$	432,623

The increase in goodwill during fiscal year 2019 is related to the acquisition of Ipswitch in April 2019 (Note 6).

Changes in the goodwill balances by reportable segment in the six months ended May 31, 2019 are as follows (in thousands):



	November 30, 2018		Additions		Translation adjustments			May 31, 2019
OpenEdge	$	248,987	$	117,651	$	(20	)	$	366,618
Data Connectivity and Integration	19,040		—		—			19,040
Application Development and Deployment	46,965		—		—			46,965
Total goodwill	$	314,992	$	117,651	$	(20	)	$	432,623

During the quarter ending May 31, 2019, no triggering events occurred that would indicate that it is more likely than not that the carrying values of any of our reporting units exceeded their fair values.