Intangible assets |
The Company's intangible assets at December 31, 2017 and 2016 consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | December 31, 2016 | | | | | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Amortization Period | | Weighted Average Useful Life | | | | | | | | | | | | | | | | | Supply and distribution agreements | $ | 1,056,660 |
| | $ | (355,000 | ) | | $ | 701,660 |
| | $ | 809,287 |
| | $ | (270,813 | ) | | $ | 538,474 |
| | 3 - 20 years | | 16 years | | | | | | | | | | | | | | | | | Technology | 137,288 |
| | (104,478 | ) | | 32,810 |
| | 112,141 |
| | (80,549 | ) | | 31,592 |
| | 1 - 5 years | | 5 years | | | | | | | | | | | | | | | | | Patents | 1,623 |
| | (1,623 | ) | | — |
| | 1,623 |
| | (1,598 | ) | | 25 |
| | 15 years | | 15 years | | | | | | | | | | | | | | | | | Internet domain names | 42,265 |
| | (28,802 | ) | | 13,463 |
| | 39,495 |
| | (25,089 | ) | | 14,406 |
| | 5 - 20 years | | 8 years | | | | | | | | | | | | | | | | | Trade names | 1,779,076 |
| | (350,447 | ) | | 1,428,629 |
| | 1,667,221 |
| | (261,412 | ) | | 1,405,809 |
| | 4-20 years | | 19 years | | | | | | | | | | | | | | | | | Non-compete agreements | 21,900 |
| | (21,639 | ) | | 261 |
| | 21,900 |
| | (18,321 | ) | | 3,579 |
| | 3-4 years | | 3 years | Total intangible assets | $ | 3,038,812 |
| | $ | (861,989 | ) | | $ | 2,176,823 |
| | $ | 2,651,667 |
| | $ | (657,782 | ) | | $ | 1,993,885 |
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Annual estimated amortization expense for intangible assets for the next five years and thereafter |
The annual estimated amortization expense for intangible assets for the next five years and thereafter is expected to be as follows (in thousands): | | | | | 2018 | $ | 172,393 |
| 2019 | 160,864 |
| 2020 | 152,868 |
| 2021 | 146,695 |
| 2022 | 143,862 |
| Thereafter | 1,400,141 |
| | $ | 2,176,823 |
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Goodwill |
A roll-forward of goodwill for the years ended December 31, 2017 and 2016 consisted of the following (in thousands): | | | | | | | | | | 2017 | | 2016 | Balance, beginning of year | $ | 2,396,906 |
| | $ | 3,375,000 |
| Acquisitions | 294,200 |
| | — |
| Impairment | — |
| | (940,700 | ) | Currency translation adjustments | 46,565 |
| | (37,394 | ) | Balance, end of year | $ | 2,737,671 |
| | $ | 2,396,906 |
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