Goodwill and Intangible Assets |
Goodwill and Intangible Assets Goodwill consists of the following (in thousands): | | | | | | | | | | | | | Six Months Ended June 30, 2020 | | Year Ended December 31, 2019 | Beginning balance | $ | 214,513 | | | $ | 149,524 | | Additions due to acquisitions | 70,167 | | | 65,181 | | Foreign currency translation adjustment | 2 | | | (192) | | Ending balance | $ | 284,682 | | | $ | 214,513 | |
Intangible assets consist of the following (in thousands, except weighted-average amortization period): | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2020 | | | | | | | | | | Weighted-Average Amortization Period (in months) | | Gross Carrying Amount | | Accumulated Amortization | | | | Net Carrying Amount | Developed technologies and content library | 72 | | $ | 66,628 | | | $ | (22,147) | | | | | $ | 44,481 | | Customer lists | 47 | | 16,190 | | | (9,000) | | | | | 7,190 | | Trade and domain names | 44 | | 11,613 | | | (7,046) | | | | | 4,567 | | Non-compete agreements | 31 | | 2,018 | | | (1,938) | | | | | 80 | | Indefinite-lived trade name | — | | | 3,600 | | | — | | | | | 3,600 | | Foreign currency translation adjustment | — | | | (396) | | | — | | | | | (396) | | Total intangible assets | 64 | | $ | 99,653 | | | $ | (40,131) | | | | | $ | 59,522 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | | | | | | | | | Weighted-Average Amortization Period (in months) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | | Developed technologies and content library | 66 | | $ | 43,268 | | | $ | (18,395) | | | $ | 24,873 | | | | Customer lists | 47 | | 9,970 | | | (8,210) | | | 1,760 | | | | Trade and domain names | 46 | | 10,873 | | | (6,169) | | | 4,704 | | | | Non-compete agreements | 31 | | 2,018 | | | (1,890) | | | 128 | | | | Indefinite-lived trade name | — | | | 3,600 | | | — | | | 3,600 | | | | Foreign currency translation adjustment | — | | | (398) | | | — | | | (398) | | | | Total intangible assets | 58 | | $ | 69,331 | | | $ | (34,664) | | | $ | 34,667 | | | |
During the three and six months ended June 30, 2020, amortization expense related to our finite-lived intangible assets totaled approximately $3.0 million and $5.5 million, respectively. During the three and six months ended June 30, 2019, amortization expense related to our finite-lived intangible assets totaled approximately $1.7 million and $3.5 million, respectively.
As of June 30, 2020, the estimated future amortization expense related to our finite-lived intangible assets is as follows (in thousands): | | | | | | Remaining six months of 2020 | $ | 7,331 | | 2021 | 13,691 | | 2022 | 12,000 | | 2023 | 8,760 | | 2024 | 5,707 | | Thereafter | 8,433 | | Total | $ | 55,922 | |
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