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Other Intangible Assets, Net
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Intangible Assets, Net Other Intangible Assets, Net
The carrying amount of other intangible assets consisted of the following:
 
Useful life in years
 
December 31, 2019
(In thousands)
Gross
amount
 
Accumulated
amortization
 
Net carrying
amount
Customer relationships
8 - 14
 
$
344,883

 
$
(220,434
)
 
$
124,449

Trademark
2 - 15
 
42,025

 
(32,456
)
 
9,569

Software packages
3 -10
 
256,220

 
(169,974
)
 
86,246

Non-compete agreement
15
 
56,539

 
(34,866
)
 
21,673

Other intangible assets, net
 
 
$
699,667

 
$
(457,730
)
 
$
241,937


 
Useful life in years
 
December 31, 2018
(In thousands)
Gross
amount
 
Accumulated
amortization
 
Net carrying
amount
 
 
 
 
 
 
 
 
Customer relationships
8 - 14
 
$
342,738

 
$
(194,570
)
 
$
148,168

Trademark
2 - 15
 
41,357

 
(28,888
)
 
12,469

Software packages
3 -10
 
224,855

 
(151,666
)
 
73,189

Non-compete agreement
15
 
56,539

 
(31,096
)
 
25,443

Other intangible assets, net
 
 
$
665,489

 
$
(406,220
)
 
$
259,269


Amortization expense related to intangibles, including software packages, was $51.5 million, $48.6 million and $49.5 million for the years ended December 31, 2019, 2018 and 2017, respectively. Amortization expense related to software packages was $18.3 million, $14.7 million and $15.9 million for the years ended December 31, 2019, 2018 and 2017, respectively. The estimated amortization expenses of balances outstanding at December 31, 2019 for the next five years are as follows:
(In thousands)
 
2020
$
50,894

2021
45,582

2022
40,459

2023
36,883

2024
28,052



On December 2, 2019, the Company completed the acquisition of 100% of the shares of capital stock of EGM Ingeniería Sin Fronteras, S.A.S., commercially known as PlacetoPay, an electronic payment company based in Medellin, Colombia. The acquisition was not significant to the consolidated financial statements. The Company completed the acquisition for a cash payment of $6.3 million and recognized a customer relationship of $1.8 million, software packages of $0.8 million, a tradename of $0.4 million and goodwill amounting to $3.7 million. Revenues and earnings from the acquisition were insignificant for the year ended December 31, 2019. Pro forma results of operations have not been presented because the effect of this business combination is not material to the consolidated financial condition and results of operations. The results of operations and financial position of PlacetoPay are included in the consolidated financial statements from and after the date of acquisition.
During the third quarter of 2017, the Company recognized an impairment charge of $6.5 million through cost of revenues for a third party software solution that is no longer commercially viable. In connection with this exit activity, the Company accrued $5.3 million for ongoing contractual fees, also through cost of revenues and recognized maintenance expense of $1.0 million. Both the liability and the impairment charge affected the Company's Merchant Acquiring segment and Payment Services segments. In the fourth quarter of 2017, the Company recognized an impairment loss related to a multi-year software
development project that was impacted by delays caused by the hurricane and projected increased costs with a third party vendor, amounting to $5.0 million through cost of revenues and is in the Company's Payment Services - Puerto Rico & Caribbean segment. The fair value of the impaired assets was determined using discounted cash flow models.