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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
The carrying amount of goodwill was $462.3 million and $462.0 million as of March 31, 2020 and December 31, 2019, respectively. During the fourth quarter of 2019, the Company added $354.2 million of goodwill for the PrecisionLender acquisition, and during 2018 the Company added $77.0 million of goodwill for the Cloud Lending acquisition and $17.8 million for the Gro acquisition. Goodwill represents the excess purchase price over the fair value of assets acquired. The Company has one operating segment and one reporting unit. Goodwill is tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist, using a fair-value-based approach based on the market capitalization of the reporting unit. The annual impairment test was performed as of October 31, 2019. During the first quarter of 2020, the Company determined that the economic uncertainty caused by the COVID-19 pandemic was a trigger for an impairment review of goodwill. As a result of the review, the Company determined that goodwill was not impaired, and it was not more likely than not that there was impairment of any intangible assets. No impairment of goodwill was identified, nor has any impairment of goodwill been recorded to date.
Intangible assets at March 31, 2020 and December 31, 2019 were as follows:
 
 
As of March 31, 2020
 
As of December 31, 2019
 
 
Gross Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Amount
 
Accumulated Amortization
 
Net Carrying Amount
Customer relationships
 
$
64,405

 
$
(8,951
)
 
$
55,454

 
$
64,405

 
$
(5,746
)
 
$
58,659

Non-compete agreements
 
13,505

 
(2,049
)
 
11,456

 
13,505

 
(1,375
)
 
12,130

Trademarks
 
22,280

 
(4,248
)
 
18,032

 
22,280

 
(3,653
)
 
18,627

Acquired technology
 
148,613

 
(21,668
)
 
126,945

 
148,613

 
(16,192
)
 
132,421

Assembled workforce
 
38

 
(38
)
 
—

 
38

 
(37
)
 
1

Capitalized software development costs
 
4,438

 
(2,327
)
 
2,111

 
4,151

 
(2,128
)
 
2,023

 
 
$
253,279

 
$
(39,281
)
 
$
213,998

 
$
252,992

 
$
(29,131
)
 
$
223,861


The Company recorded intangible assets from the business combinations discussed in Note 3 - Business Combinations. Intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from two to ten years. Amortization expense included in cost of revenues in the condensed consolidated statements of comprehensive loss was $5.5 million and $1.6 million for the three months ended March 31, 2020 and 2019, respectively. Amortization expense included in operating expenses in the condensed consolidated statements of comprehensive loss was $4.5 million and $1.2 million for the three months ended March 31, 2020 and 2019, respectively.
Gross capitalized software development costs were $4.4 million and $4.2 million as of March 31, 2020 and December 31, 2019. The Company amortized $0.2 million of capitalized software development costs for each of the three months ended March 31, 2020 and 2019. Capitalized software development costs are computed on an individual product basis and those products available for market are amortized to cost of revenues over the products' estimated economic lives, which are expected to be five years.