GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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