Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Identified Intangible Assets

v3.10.0.1
Goodwill and Identified Intangible Assets
6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
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:
Balance as of December 31, 2017
$
751,052

Goodwill acquired
168,033

Measurement period adjustments
(300
)
Balance as of June 30, 2018
$
918,785


Identified intangible assets consisted of the following at June 30, 2018 and December 31, 2017:
 
 
June 30, 2018
 
December 31, 2017
 
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
 
 
(in thousands)
Finite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Developed technologies
 
$
194,194

 
$
(88,434
)
 
$
105,760

 
$
164,640

 
$
(76,577
)
 
$
88,063

Client relationships
 
234,418

 
(91,120
)
 
143,298

 
213,728

 
(78,390
)
 
135,338

Vendor relationships
 
5,650

 
(5,650
)
 

 
5,650

 
(5,650
)
 

Trade names
 
20,406

 
(7,786
)
 
12,620

 
17,556

 
(4,325
)
 
13,231

Non-compete agreements
 
4,173

 
(1,000
)
 
3,173

 
4,173

 
(605
)
 
3,568

Total finite-lived intangible assets
 
458,841

 
(193,990
)
 
264,851

 
405,747

 
(165,547
)
 
240,200

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Trade names
 
12,132

 

 
12,132

 
12,137

 

 
12,137

Total identified intangible assets
 
$
470,973

 
$
(193,990
)
 
$
276,983

 
$
417,884

 
$
(165,547
)
 
$
252,337


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.