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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
 
Goodwill represents the excess purchase price over the fair value of net assets acquired, or net liabilities assumed, in a business combination. In accordance with ASC Topic 350, Intangibles – Goodwill and Other, the Company performs an annual impairment review in the fourth quarter and more frequently if events or changes in circumstances indicate that goodwill might be impaired. There was no indication that goodwill became impaired as of March 31, 2020.

Other intangible assets include customer relationships, non-compete arrangements, trade names, customer backlog, and developed software, which are being amortized over the assets’ estimated useful lives using the straight-line method. Estimated useful lives range from less than one year to ten years. Amortization of customer relationships, non-compete arrangements, trade names, customer backlog, and developed software is considered an operating expense and is included in “Amortization” in the accompanying Unaudited Condensed Consolidated Statements of Operations. The Company periodically reviews the estimated useful lives of its identifiable intangible assets, taking into consideration any events or circumstances that might result in a lack of recoverability or revised useful life. There was no indication that other intangible assets became impaired as of March 31, 2020.

Goodwill
 
The changes in the carrying amount of goodwill for the three months ended March 31, 2020 are as follows (in thousands):
 
Balance at December 31, 2019$335,564  
Purchase price allocation for acquisitions26,203  
Effect of foreign currency translation adjustments(230) 
Balance at March 31, 2020$361,537  

Intangible Assets with Definite Lives
 
The following table presents a summary of the Company’s intangible assets that are subject to amortization (in thousands):
 
 March 31, 2020December 31, 2019
 Gross
Carrying
Amounts		Accumulated
Amortization		Net
Carrying
Amounts		Gross
Carrying
Amounts		Accumulated
Amortization		Net
Carrying
Amounts
Customer relationships$79,702  $(36,885) $42,817  $82,431  $(49,716) $32,715  
Non-compete agreements1,357  (668) 689  1,264  (601) 663  
Customer backlog1,105  (144) 961  1,102  (987) 115  
Trade name170  (67) 103  60  (37) 23  
Developed software12,144  (7,048) 5,096  10,984  (6,547) 4,437  
Total$94,478  $(44,812) $49,666  $95,841  $(57,888) $37,953  
 
        The estimated useful lives of identifiable intangible assets are as follows:
 
Customer relationships
5 - 10 years
Non-compete agreements
4 - 5 years
Customer backlog1 year
Trade name1 year
Developed software
1 - 7 years
 
Estimated annual amortization expense for the next five years ended December 31 and thereafter is as follows: (in thousands):
2020 remaining$12,154  
2021$12,876  
2022$11,331  
2023$6,701  
2024$3,758  
Thereafter$2,846