Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets are classified as follows:


	June 30, 2021				December 31, 2020
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Developed software and core technologies	$	890,397	$	(396,417)	$	859,620	$	(370,338)
Customer lists and contract backlog	286,732		(142,392)		288,085		(136,093)
Trade names	176,262		(125,541)		175,626		(122,392)
Total	$	1,353,391	$	(664,350)	$	1,323,331	$	(628,823)
Indefinite-lived intangible asset:
Trade name	$	357			$	357

Finite-lived intangible assets are amortized over their estimated useful lives of two years to seventeen years. Amortization expense for the intangible assets reflected above was $19.5 million and $13.9 million for the three months ended June 30, 2021 and 2020, respectively. Amortization expense for the intangible assets reflected above was $38.8 million and $27.6 million for the six months ended June 30, 2021 and 2020, respectively

As of June 30, 2021, estimated future amortization expense for the intangible assets reflected above was as follows:


(in thousands)
Remainder of 2021	$	36,684
2022	78,527
2023	80,665
2024	80,069
2025	77,767
2026	75,567
Thereafter	259,762
Total intangible assets subject to amortization	689,041
Indefinite-lived trade name	357
Other intangible assets, net	$	689,398

The changes in goodwill during the six months ended June 30, 2021 and 2020 were as follows:


(in thousands)	2021		2020
Beginning balance – January 1	$	3,038,306	$	2,413,280
Acquisitions and adjustments(1)	78,610		69,330

Currency translation	(6,180)		(8,311)
Ending balance – June 30	$	3,110,736	$	2,474,299

(1) In accordance with the accounting for business combinations, we 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 we 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 2021, we 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, 2021. No other events or circumstances changed during the six months ended June 30, 2021 that would indicate that the fair values of our reporting unit and indefinite-lived intangible asset are below their carrying amounts.