Quarterly report pursuant to Section 13 or 15(d)

3. Goodwill and Purchased Intangibles

v3.19.1
3. Goodwill and Purchased Intangibles
 3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
3. Goodwill and Purchased Intangibles

3.  Goodwill and Purchased Intangibles

 

Goodwill

 

The carrying value of goodwill at March 31, 2019 and December 31, 2018 was $537,550.

 

Intangible assets

 

The following table presents details of our purchased intangible assets as of March 31, 2019 and December 31, 2018:

 

    Balance at December 31, 2018   Additions   Impairments   Amortization   Fx and Other   Balance at March 31, 2019
Patents and trademarks   $ 104,986      $ -      $ -      $ (3,196)     $ 656      $ 102,446   
Customer and merchant relationships     836,088        -        -        (24,803)       -        811,285   
Trade name     59,996        -        -        (2,320)       60        57,736   
Acquired technology     161,092        -        -        (4,075)       -        157,017   
Non-compete agreements     76,791        -        -        (3,965)       -        72,826   
    $ 1,238,953      $ -      $ -      $ (38,359)     $ 716      $ 1,201,310   

 

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 $37,769 and $10,669 for the three months ended March 31, 2019 and 2018, respectively.

 

The estimated future amortization expense of our intangible assets as of March 31, 2019 is as follows:

 

Year ending December 31,   Amount
2019   $ 151,078   
2020     150,154   
2021     148,220   
2022     147,208   
2023     140,600   
Thereafter     464,050   
Total   $ 1,201,310