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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
The changes in the carrying amount of goodwill for the nine months ended September 30, 2020 are as follows (in thousands):
 
Balance at December 31, 2019$335,564 
Purchase price allocation for acquisitions85,369 
Effect of foreign currency translation adjustments(1,904)
Balance at September 30, 2020$419,029 
Intangible assets
The following table presents a summary of the Company’s intangible assets that are subject to amortization (in thousands):
 
 September 30, 2020December 31, 2019
 Gross
Carrying
Amounts
Accumulated
Amortization
Net
Carrying
Amounts
Gross
Carrying
Amounts
Accumulated
Amortization
Net
Carrying
Amounts
Customer relationships$98,926 $(43,958)$54,968 $82,431 $(49,716)$32,715 
Non-compete agreements1,498 (794)704 1,264 (601)663 
Customer backlog9,020 (2,983)6,037 1,102 (987)115 
Trade name411 (157)254 60 (37)23 
Developed software14,211 (8,827)5,384 10,984 (6,547)4,437 
Total$124,066 $(56,719)$67,347 $95,841 $(57,888)$37,953 
Estimated useful lives of intangible assets
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
Estimated annual amortization expense for the next five years ended December 31 and thereafter is as follows: (in thousands):
2020 remaining$6,978 
2021$20,658 
2022$15,192 
2023$10,436 
2024$7,410 
Thereafter$6,673