| Goodwill and Intangible Assets |
Goodwill and Intangible Assets
Changes in the carrying amount of goodwill during the three months ended March 31, 2020 were as follows, in thousands:
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Balance as of January 1, 2020 |
$ |
1,611,749 |
|
Goodwill acquired |
49,268 |
|
Measurement period adjustments |
2,125 |
|
Balance as of March 31, 2020 |
$ |
1,663,142 |
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Identified intangible assets consisted of the following at March 31, 2020 and December 31, 2019:
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March 31, 2020 |
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December 31, 2019 |
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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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$ |
286,003 |
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|
$ |
(135,513 |
) |
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$ |
150,490 |
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|
$ |
277,030 |
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|
$ |
(125,537 |
) |
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$ |
151,493 |
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Client relationships |
|
349,838 |
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(150,311 |
) |
|
199,527 |
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|
341,438 |
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(140,044 |
) |
|
201,394 |
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Trade names |
|
26,257 |
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(17,539 |
) |
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8,718 |
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25,557 |
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(16,928 |
) |
|
8,629 |
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Non-compete agreements |
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5,273 |
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(2,450 |
) |
|
2,823 |
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|
5,273 |
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(2,186 |
) |
|
3,087 |
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Total finite-lived intangible assets |
|
667,371 |
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(305,813 |
) |
|
361,558 |
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|
649,298 |
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(284,695 |
) |
|
364,603 |
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Indefinite-lived intangible assets: |
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Trade names |
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8,384 |
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— |
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8,384 |
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|
8,393 |
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|
— |
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|
8,393 |
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Total intangible assets |
|
$ |
675,755 |
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|
$ |
(305,813 |
) |
|
$ |
369,942 |
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|
$ |
657,691 |
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|
$ |
(284,695 |
) |
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$ |
372,996 |
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Amortization expense related to finite-lived intangible assets was $21.1 million and $16.1 million for the three months ended March 31, 2020 and 2019, respectively.
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