Goodwill and Identified Intangible Assets |
Goodwill and Identified Intangible Assets
Changes in the carrying amount of goodwill during the six months ended June 30, 2018 were as follows, in thousands:
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Balance as of December 31, 2017 |
$ |
751,052 |
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Goodwill acquired |
168,033 |
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Measurement period adjustments |
(300 |
) |
Balance as of June 30, 2018 |
$ |
918,785 |
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Identified intangible assets consisted of the following at June 30, 2018 and December 31, 2017:
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June 30, 2018 |
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December 31, 2017 |
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Carrying
Amount
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Accumulated
Amortization
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Net |
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Carrying
Amount
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Accumulated
Amortization
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Net |
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(in thousands) |
Finite-lived intangible assets: |
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Developed technologies |
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$ |
194,194 |
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$ |
(88,434 |
) |
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$ |
105,760 |
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$ |
164,640 |
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$ |
(76,577 |
) |
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$ |
88,063 |
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Client relationships |
|
234,418 |
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(91,120 |
) |
|
143,298 |
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|
213,728 |
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|
(78,390 |
) |
|
135,338 |
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Vendor relationships |
|
5,650 |
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|
(5,650 |
) |
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— |
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5,650 |
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(5,650 |
) |
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— |
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Trade names |
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20,406 |
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(7,786 |
) |
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12,620 |
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17,556 |
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(4,325 |
) |
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13,231 |
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Non-compete agreements |
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4,173 |
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(1,000 |
) |
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3,173 |
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4,173 |
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(605 |
) |
|
3,568 |
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Total finite-lived intangible assets |
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458,841 |
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(193,990 |
) |
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264,851 |
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405,747 |
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(165,547 |
) |
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240,200 |
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Indefinite-lived intangible assets: |
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Trade names |
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12,132 |
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— |
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|
12,132 |
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|
12,137 |
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— |
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|
12,137 |
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Total identified intangible assets |
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$ |
470,973 |
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|
$ |
(193,990 |
) |
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$ |
276,983 |
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$ |
417,884 |
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$ |
(165,547 |
) |
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$ |
252,337 |
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Amortization expense related to finite-lived intangible assets was $14.7 million and $6.5 million for the three months ended June 30, 2018 and 2017, respectively. For the six months ended June 30, 2018 and 2017, amortization expense related to finite-lived intangible assets was $28.5 million and $12.6 million, respectively.
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