Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.

Goodwill of companies acquired, allocated to the company's business segments, is as follows:



	Global Components		Global ECS		Total
Balance as of December 31, 2017 (a)	$	1,264,869	$	1,205,178	$	2,470,047
Acquisitions and related adjustments	202,267		14,201		216,468
Foreign currency translation adjustment	4,565		12,462		17,027
Balance as of March 31, 2018 (a)	$	1,471,701	$	1,231,841	$	2,703,542


(a)	The total carrying value of goodwill for all periods in the table above is reflected net of $1,026,702 of accumulated impairment charges, of which $716,925 was recorded in the global components business segment and $309,777 was recorded in the global ECS business segment.

Intangible assets, net, are comprised of the following as of March 31, 2018:



	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Non-amortizable trade names	indefinite	$	101,000	$	—		$	101,000
Customer relationships	10 years	454,492		(211,062		)	243,430
Developed technology	5 years	6,340		(3,360		)	2,980
Amortizable trade name	5 years	2,409		(1,441		)	968
		$	564,241	$	(215,863	)	$	348,378

Intangible assets, net, are comprised of the following as of December 31, 2017:



	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Non-amortizable trade names	indefinite	$	101,000	$	—		$	101,000
Customer relationships	10 years	440,167		(259,337		)	180,830
Developed technology	5 years	6,340		(3,043		)	3,297
Amortizable trade name	5 years	2,409		(1,321		)	1,088
		$	549,916	$	(263,701	)	$	286,215

During the first quarter of 2018 and 2017, the company recorded amortization expense related to identifiable intangible assets of $13,520 and $12,900, respectively.