Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill were as follows (in thousands):

	Full service center-based child care			Back-up care			Educational advisory services		Total
Balance at January 1, 2018	$	1,114,886		$	168,105		$	23,801	$	1,306,792
Additions from acquisitions	60,266			—			—		60,266
Effect of foreign currency translation	(19,447		)	—			—		(19,447		)
Balance at December 31, 2018	1,155,705			168,105			23,801		1,347,611
Additions from acquisitions	7,400			28,746			—		36,146
Effect of foreign currency translation	(2,668		)	(878		)	—		(3,546		)
Balance at June 30, 2019	$	1,160,437		$	195,973		$	23,801	$	1,380,211

The Company also has intangible assets, which consisted of the following at June 30, 2019 and December 31, 2018 (in thousands):

June 30, 2019	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	14 years	$	398,829	$	(268,989	)	$	129,840
Trade names	6 years	10,120		(6,385		)	3,735
		408,949		(275,374		)	133,575
Indefinite-lived intangibles:
Trade names	N/A	180,776		—			180,776
		$	589,725	$	(275,374	)	$	314,351

December 31, 2018	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	391,220	$	(253,588	)	$	137,632
Trade names	7 years	10,183		(5,609		)	4,574
		401,403		(259,197		)	142,206
Indefinite-lived intangibles:
Trade names	N/A	180,829		—			180,829
		$	582,232	$	(259,197	)	$	323,035

The Company estimates that it will record amortization expense related to intangible assets existing as of June 30, 2019 as follows over the next five years (in thousands):

	Intangible asset amortization
Remainder of 2019	$	16,719
2020	$	29,787
2021	$	26,786
2022	$	24,611
2023	$	23,780