Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

The Company's intangible assets are classified as follows:



	September 30, 2019					December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Developed software and core technologies	$	455,998	$	(325,583	)	$	410,680	$	(314,730	)
Customer lists and contract backlog	238,373		(127,770		)	209,031		(117,614		)
Trade names	142,224		(116,221		)	137,225		(113,677		)
Total	$	836,595	$	(569,574	)	$	756,936	$	(546,021	)
Indefinite-lived intangible asset:
Trade name	$	357				$	357

Amortization expense for the intangible assets reflected above was $8.5 million and $9.0 million for the three months ended September 30, 2019 and 2018, respectively. Amortization expense for the intangible assets reflected above was $25.4 million and $33.8 million for the nine months ended September 30, 2019 and 2018, respectively.

As of September 30, 2019, estimated future amortization expense for the intangible assets reflected above is as follows:



(in thousands)
Remainder of 2019	$	8,499
2020	36,101
2021	34,100
2022	32,780
2023	31,122
2024	28,728
Thereafter	95,691
Total intangible assets subject to amortization	267,021
Indefinite-lived trade name	357
Other intangible assets, net	$	267,378

The changes in goodwill during the nine months ended September 30, 2019 and 2018 were as follows:



(in thousands)	2019			2018
Beginning balance – January 1	$	1,572,455		$	1,378,553
Acquisitions and adjustments⁽¹⁾	219,009			204,271
Currency translation	(19,602		)	(7,257		)
Ending balance – September 30	$	1,771,862		$	1,575,567

⁽¹⁾ In accordance with the accounting for business combinations, the Company recorded adjustments to goodwill for the effect of changes in the provisional fair values of the assets acquired and liabilities assumed during the measurement period (up to one year from the acquisition date) as the Company obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date.

During the first quarter of 2019, the Company completed the annual impairment test for goodwill and the indefinite-lived intangible asset and determined that these assets had not been impaired as of the test date, January 1, 2019. No other events or circumstances changed during the nine months ended September 30, 2019 that would indicate that the fair values of the Company's reporting unit and indefinite-lived intangible asset are below their carrying amounts.