Quarterly report pursuant to Section 13 or 15(d)

3. Goodwill and Purchased Intangibles

v3.19.2
3. Goodwill and Purchased Intangibles
 6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
3. Goodwill and Purchased Intangibles

3.  Goodwill and Purchased Intangibles

 

Goodwill

 

The carrying value of goodwill at June 30, 2019 and December 31, 2018 was $537,550.

 

Intangible assets

 

    Balance at
December 31,
2018		   Additions   Impairments   Amortization   Fx and Other   Balance at
June 30,
2019
Patents and trademarks   $ 104,986     -     (10,975)     (6,384)     190     87,817
Customer and merchant relationships     836,088     -     -      (48,425)     -     787,663
Trade name     59,996     -     -      (4,640)     17     55,373
Acquired technology     161,092     -     -      (8,150)     -     152,942
Non-compete agreements     76,791     -     -      (7,930)     -     68,861
    $ 1,238,953     -     (10,975)     (75,529)     207     1,152,656

 

The following table presents details of our purchased intangible assets as of June 30, 2019 and December 31, 2018:

 

 

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 $37,760 and $11,096 for the three months ended June 30, 2019 and 2018, respectively.

 

Amortization expense for intangible assets was $75,529 and $21,765 for the six months ended June 30, 2019 and 2018, respectively.

 

The estimated future amortization expense of our intangible assets as of June 30, 2019 is as follows:

 

Year ending December 31,    Amount
2019   $                      75,530
2020                        150,154
2021                        147,321
2022                        147,208
2023                        140,600
Thereafter                        491,843
Total   $                 1,152,656