Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Purchased Intangibles

v3.20.2
Goodwill and Purchased Intangibles
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Purchased Intangibles

3. Goodwill and Purchased Intangibles

 

Goodwill

 

The carrying value of goodwill at September 30, 2020 and December 31, 2019 was $496,352.

 

The following table presents details of our purchased intangible assets as of September 30, 2020 and December 31, 2019:

 

Intangible assets

 

   

Balance at

December 31,

2019

    Additions     Impairments     Amortization     Fx and Other     Balance at
September 30,
2020
 
Patents and trademarks   $ 69,853     $ 8,755     $ (3,481 )   $ (9,484 )   $ (92 )   $ 65,551  
Customer and merchant relationships     739,236       -       -       (72,639 )     -       666,597  
Trade name     50,732       -       -       (6,959 )     (10 )     43,763  
Acquired technology     144,792       -       -       (12,225 )     -       132,567  
Non-compete agreements     60,931       -       -       (11,895 )     -       49,036  
    $ 1,065,544     $ 8,755     $ (3,481 )   $ (113,202 )   $ (102 )   $ 957,514  

 

The intangible assets are being amortized on a straight-line basis over their estimated useful lives of one to twenty years.

 

Amortization expense for intangible assets was $37,758 and $37,779 for the three months ended September 30, 2020 and 2019, respectively.

 

Amortization expense for intangible assets was $113,202 and $113,309 for the nine months ended September 30, 2020 and 2019, respectively.

 

The estimated future amortization expense of our intangible assets as of September 30, 2020 is as follows:

 

Year ending December 31,   Amount  
2020   $ 37,732  
2021     148,240  
2022     148,114  
2023     145,606  
2024     109,010  
Thereafter     368,812  
Total   $ 957,514