| Goodwill and Intangible Assets |
Goodwill and Intangible Assets
Changes in the carrying amount of goodwill during the nine months ended September 30, 2018 were as follows, in thousands:
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|
|
Balance as of December 31, 2017 |
$ |
751,052 |
|
Goodwill acquired |
260,632 |
|
Measurement period adjustments |
(2,222 |
) |
Balance as of September 30, 2018 |
$ |
1,009,462 |
|
Identified intangible assets consisted of the following at September 30, 2018 and December 31, 2017:
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September 30, 2018 |
|
December 31, 2017 |
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|
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net |
|
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net |
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(in thousands) |
Finite-lived intangible assets: |
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Developed technologies |
|
$ |
203,686 |
|
|
$ |
(94,230 |
) |
|
$ |
109,456 |
|
|
$ |
164,640 |
|
|
$ |
(76,577 |
) |
|
$ |
88,063 |
|
Client relationships |
|
255,728 |
|
|
(99,405 |
) |
|
156,323 |
|
|
213,728 |
|
|
(78,390 |
) |
|
135,338 |
|
Vendor relationships |
|
5,650 |
|
|
(5,650 |
) |
|
— |
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|
5,650 |
|
|
(5,650 |
) |
|
— |
|
Trade names |
|
21,536 |
|
|
(9,042 |
) |
|
12,494 |
|
|
17,556 |
|
|
(4,325 |
) |
|
13,231 |
|
Non-compete agreements |
|
4,173 |
|
|
(1,198 |
) |
|
2,975 |
|
|
4,173 |
|
|
(605 |
) |
|
3,568 |
|
Total finite-lived intangible assets |
|
490,773 |
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|
(209,525 |
) |
|
281,248 |
|
|
405,747 |
|
|
(165,547 |
) |
|
240,200 |
|
Indefinite-lived intangible assets: |
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|
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|
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|
|
|
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Trade names |
|
12,134 |
|
|
— |
|
|
12,134 |
|
|
12,137 |
|
|
— |
|
|
12,137 |
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Total intangible assets |
|
$ |
502,907 |
|
|
$ |
(209,525 |
) |
|
$ |
293,382 |
|
|
$ |
417,884 |
|
|
$ |
(165,547 |
) |
|
$ |
252,337 |
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Amortization expense related to finite-lived intangible assets was $15.5 million and $7.1 million for the three months ended September 30, 2018 and 2017, respectively. For the nine months ended September 30, 2018 and 2017, amortization expense related to finite-lived intangible assets was $44.0 million and $19.7 million, respectively.
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