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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS As of December 31, 2020 and 2019, goodwill and other intangible assets consisted of the following:
| 2020 |  | 2019
| (in thousands)
Goodwill | $ | 23,871,451 |  |  | $ | 23,759,740 |
Other intangible assets: |  |  |
Customer-related intangible assets | $ | 9,275,093 |  |  | $ | 9,238,728 |
Acquired technologies | 2,795,991 |  |  | 2,732,218 |
Contract-based intangible assets | 1,981,260 |  |  | 1,974,429 |
Trademarks and trade names | 1,239,925 |  |  | 1,239,471 |
| 15,292,269 |  |  | 15,184,846 |
Less accumulated amortization: |  |  |
Customer-related intangible assets | 1,914,214 |  |  | 1,225,785 |
Acquired technologies | 960,281 |  |  | 576,928 |
Contract-based intangible assets | 120,631 |  |  | 82,225 |
Trademarks and trade names | 281,260 |  |  | 145,253 |
| 3,276,386 |  |  | 2,030,191 |
| $ | 12,015,883 |  |  | $ | 13,154,655 |
On December 31, 2019, we acquired a merchant portfolio from Desjardins Group, a cooperative financial group in Canada. We accounted for the acquisition as an asset purchase and recognized customer-related intangible assets of $307.9 million in the consolidated balance sheet at the acquisition date. The following table sets forth the changes by reportable segment in the carrying amount of goodwill for the years ended December 31, 2020, 2019 and 2018:
| Merchant Solutions |  | Issuer Solutions |  | Business and Consumer Solutions |  | Total
| (in thousands)
Balance at December 31, 2017 | $ | 5,670,454 |  |  | $ | 33,538 |  |  | $ | — |  |  | $ | 5,703,992 |
Goodwill acquired | 698,870 |  |  | — |  |  | — |  |  | 698,870 |
Effect of foreign currency translation | (59,374) |  |  | (1,709) |  |  | — |  |  | (61,083) |
Measurement-period adjustments | (424) |  |  | — |  |  | — |  |  | (424) |
Balance at December 31, 2018 | 6,309,526 |  |  | 31,829 |  |  | — |  |  | 6,341,355 |
Goodwill acquired | 7,095,167 |  |  | 7,945,029 |  |  | 2,358,657 |  |  | 17,398,853 |
Effect of foreign currency translation | 10,030 |  |  | 8,873 |  |  | — |  |  | 18,903 |
Measurement-period adjustments | 629 |  |  | — |  |  | — |  |  | 629 |
Balance at December 31, 2019 | 13,415,352 |  |  | 7,985,731 |  |  | 2,358,657 |  |  | 23,759,740 |
Goodwill acquired | 80,152 |  |  | — |  |  | — |  |  | 80,152 |
Effect of foreign currency translation | 54,548 |  |  | 14,182 |  |  | — |  |  | 68,730 |
Measurement-period adjustments | (1,362) |  |  | (42,297) |  |  | 6,488 |  |  | (37,171) |
Balance at December 31, 2020 | $ | 13,548,690 |  |  | $ | 7,957,616 |  |  | $ | 2,365,145 |  |  | $ | 23,871,451 |
There were no accumulated impairment losses for goodwill at any balance sheet date reflected in the table above. Customer-related intangible assets, acquired technologies and contract-based intangible assets acquired during the year ended December 31, 2020 had weighted-average amortization periods of 8.9 years, 5.0 years, and 9.8 years, respectively. Customer-related intangible assets, acquired technologies, contract-based intangible assets and trademarks and trade names acquired during the year ended December 31, 2019 had weighted-average amortization periods of 15.1 years, 6.9 years, 17.7 years and 10.7 years, respectively. Customer-related intangible assets, acquired technologies, contract-based intangible assets and trademarks and trade names acquired during the year ended December 31, 2018 had weighted-average amortization periods of 11.5 years, 6.2 years, 19.3 years and 12.5 years, respectively. Amortization expense of acquired intangibles was $1,256.9 million for the year ended December 31, 2020, $667.1 million for the year ended December 31, 2019 and $377.7 million for the year ended December 31, 2018. The estimated amortization expense of acquired intangibles as of December 31, 2020 for the next five years, calculated using the currency exchange rate at the date of acquisition, if applicable, is as follows (in thousands):
2021 | $ | 1,240,341 |
2022 | 1,220,091 |
2023 | 1,176,692 |
2024 | 1,120,117 |
2025 | 1,051,578 |

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