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Intangible Assets and Goodwill
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets
Intangible assets consisted of the following:
 
March 31, 2020
 
December 31, 2019
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Customer relationships
$
265,630

 
$
(95,136
)
 
$
170,494

 
$
265,665

 
$
(88,550
)
 
$
177,115

Software & technology
31,600

 
(21,576
)
 
10,024

 
31,600

 
(19,999
)
 
11,601

Trademarks & other
13,324

 
(12,218
)
 
1,106

 
13,324

 
(11,400
)
 
1,924

Total intangible assets
$
310,554

 
$
(128,930
)
 
$
181,624

 
$
310,589

 
$
(119,949
)
 
$
190,640



Amortization expense was $9 million for the three months ended March 31, 2020 and 2019.
Future amortization expense as of March 31, 2020 is shown in the table below. Actual amortization expense may differ due to, among other things, fluctuations in foreign currency exchange rates, impairments, acquisitions and accelerated amortization.
Remaining for year ending December 31, 2020
$
24,412

Year ending December 31, 2021
29,972

Year ending December 31, 2022
29,026

Year ending December 31, 2023
26,188

Year ending December 31, 2024
26,188

Thereafter
45,838

Total
$
181,624



Goodwill
During the first quarter of 2020, our Global Ecommerce reporting unit experienced weaker than expected performance, in part due to the macroeconomic conditions resulting from COVID-19. Based on this, we engaged a third-party to assist in the determination of the fair value of the reporting unit.
The determination of fair value, and the resulting impairment charge, relied on internal projections developed using numerous estimates and assumptions and are inherently subject to significant uncertainties. These estimates and assumptions used included revenue growth, profitability, cash flows, capital spending and other available information. The determination of fair value also incorporated a risk-adjusted discount rate, terminal growth rates and other assumptions that market participants may use. Changes in any of these estimates or assumptions could materially affect the determination of fair value and the associated goodwill impairment charge and could result in an additional impairment charge to be recorded in the future. These estimates and assumptions are considered Level 3 inputs under the fair value hierarchy.
We determined that the reporting unit's estimated fair value was less than its carrying value and recorded a non-cash, pre-tax goodwill impairment charge of $198 million to reduce the carrying value of the Global Ecommerce reporting unit to its estimated fair value.

Changes in the carrying value of goodwill, by reporting segment are shown in the table below.
 
December 31, 2019
 
Impairment
 
Acquisition
 
Currency impact
 
March 31,
2020
Global Ecommerce
$
609,431

 
$
(198,169
)
 
$
—

 
$
—

 
$
411,262

Presort Services
212,529

 
—

 
4,338

 
—

 
216,867

Commerce Services
821,960

 
(198,169
)
 
4,338

 
—

 
628,129

SendTech Solutions
502,219

 
—

 
—

 
(5,313
)
 
496,906

Total goodwill
$
1,324,179

 
$
(198,169
)
 
$
4,338

 
$
(5,313
)
 
$
1,125,035