Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

(7) Goodwill and Intangible Assets

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

Balance at December 31, 2018	$	48,382
Change due to acquisitions		43,302
Foreign currency translation		(263	)
Balance at December 31, 2019		91,421
Change due to acquisitions		89,033
Foreign currency translation		6,957
Balance at December 31, 2020	$	187,411

There were no impairments recorded against goodwill in 2020, 2019 or 2018.

Intangible assets consisted of the following (in thousands):

					As of December 31, 2020
	Gross carrying amount		Weighted- average life (years)		Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	31,851		3.54	$	(5,322	)	$	26,529
Tradenames		15,360		3.52		(6,638	)		8,722
Customer relationships		100,590		7.41		(22,079	)		78,511
Total intangible assets	$	147,801			$	(34,039	)	$	113,762

					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 $20.2 million, $10.4 million and $5.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization expense of tradenames and customer relationships is

included within general and administrative expenses, while amortization of developed technology is included in cost of revenue. The Company recorded amortization expense attributed to developed technology of $4.2 million, $2.1 million and $1.3 million for the period ended December 31, 2020, 2019 and 2018, respectively. In December 2020, the Company completed an asset acquisition and recorded $17.1 million to developed technology. The average useful life for the December 2020 asset acquisition of acquired technology is 4.0 years. During the year ended December 31, 2020, the Company retired $4.4 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of December 31, 2020, for each of the next five years and thereafter is as follows (in thousands):

2021	$	27,387
2022		24,219
2023		19,165
2024		17,443
2025		11,040
Thereafter		14,508
	$	113,762