Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

(7) Goodwill and Intangible Assets, Net

The following table displays the changes in the gross carrying amount of goodwill (in thousands):


Balance at December 31, 2019	$	91,421
Foreign currency translation		(2,558	)
Increase due to acquisitions		67,251
Balance at June 30, 2020	$	156,114

There were no impairments recorded against goodwill during the six months ended June 30, 2020 and for the year ended December 31, 2019.

Intangible assets consisted of the following (in thousands):

				As of June 30, 2020
	Gross carrying amount		Weighted average life (years)	Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	11,951	3.00	$	(2,966	)	$	8,985
Tradenames		14,072	3.56		(4,414	)		9,658
Customer relationships		82,728	7.15		(14,586	)		68,142
Total intangible assets	$	108,751		$	(21,966	)	$	86,785

					As of December 31, 2019
	Gross carrying amount		Weighted average life (years)		Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	9,485		3.00	$	(4,232	)	$	5,253
Tradenames		11,437		3.50		(2,724	)		8,713
Customer relationships		63,667		6.84		(10,533	)		53,134
Total intangible assets	$	84,589			$	(17,489	)	$	67,100

Amortization expense for intangible assets was $4.8 million and $1.6 million for the three months ended June 30, 2020 and 2019, respectively. Amortization expense for intangible assets was $8.9 million and $3.3 million for the six months ended June 30, 2020 and 2019, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $1.0 million and $0.4 million for the three months ended June 30, 2020 and 2019, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $1.7 million and $0.7 million for the six months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020, the Company retired $4.0 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of June 30, 2020, for each of the next five years and thereafter is as follows (in thousands):


2020 (for the remaining six months)	$	9,970
2021		19,699
2022		16,485
2023		11,991
2024		11,031
Thereafter		17,609
	$	86,785