Changes in carrying amount of goodwill |
The changes in the carrying amount of goodwill for the nine-month period ended September 30, 2017 were as follows (in thousands): | | | | | | 2017 | Goodwill balance at January 1 | $ | 211,927 |
| Effect of foreign exchange | 2,418 |
| Additions as the result of acquisitions | 19,698 |
| Goodwill balance at September 30 | $ | 234,043 |
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Other intangible assets |
Other intangible assets at September 30, 2017 and December 31, 2016, consisted of the following (in thousands): | | | | | | | | | | | | | | September 30, 2017 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Patents | $ | 15,972 |
| | $ | (3,586 | ) | | $ | 12,386 |
| Distribution agreements | 6,626 |
| | (4,248 | ) | | 2,378 |
| License agreements | 23,804 |
| | (4,387 | ) | | 19,417 |
| Trademarks | 16,220 |
| | (4,342 | ) | | 11,878 |
| Covenants not to compete | 1,028 |
| | (961 | ) | | 67 |
| Customer lists | 25,942 |
| | (17,461 | ) | | 8,481 |
| In-process technology | 1,100 |
| | — |
| | 1,100 |
| | | | | | | Total | $ | 90,692 |
| | $ | (34,985 | ) | | $ | 55,707 |
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| | | | | | | | | | | | | | December 31, 2016 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Patents | $ | 14,130 |
| | $ | (3,165 | ) | | $ | 10,965 |
| Distribution agreements | 6,626 |
| | (3,527 | ) | | 3,099 |
| License agreements | 20,695 |
| | (3,422 | ) | | 17,273 |
| Trademarks | 12,380 |
| | (3,330 | ) | | 9,050 |
| Covenants not to compete | 1,028 |
| | (936 | ) | | 92 |
| Customer lists | 22,261 |
| | (15,401 | ) | | 6,860 |
| Royalty agreements | 267 |
| | (267 | ) | | — |
| | | | | | | Total | $ | 77,387 |
| | $ | (30,048 | ) | | $ | 47,339 |
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Estimated amortization expense |
Estimated amortization expense for the developed technology and other intangible assets for the next five years consists of the following as of September 30, 2017 (in thousands):
| | | | | Year Ending December 31 | | Remaining 2017 | $ | 6,745 |
| 2018 | 26,152 |
| 2019 | 25,678 |
| 2020 | 24,524 |
| 2021 | 18,013 |
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