GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

As of December 31, 2021 and 2020, goodwill and other intangible assets consisted of the following:


	2021		2020

	(in thousands)

Goodwill	$	24,813,274	$	23,871,451
Other intangible assets:
Customer-related intangible assets	$	9,694,083	$	9,275,093
Acquired technologies	2,962,154		2,795,991
Contract-based intangible assets	2,258,676		1,981,260
Trademarks and trade names	1,271,302		1,239,925
	16,186,215		15,292,269
Less accumulated amortization:
Customer-related intangible assets	2,587,586		1,914,214
Acquired technologies	1,367,513		960,281
Contract-based intangible assets	180,975		120,631
Trademarks and trade names	416,432		281,260
	4,552,506		3,276,386
	$	11,633,709	$	12,015,883

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, 2021, 2020 and 2019:


	Merchant Solutions		Issuer Solutions		Business and Consumer Solutions		Total

	(in thousands)

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
Goodwill acquired	557,044		—		431,797		988,841
Effect of foreign currency translation	(36,192)		(3,163)		(1,663)		(41,018)
Measurement-period adjustments	(5,860)		—		(140)		(6,000)
Balance at December 31, 2021	$	14,063,682	$	7,954,453	$	2,795,139	$	24,813,274

There were no accumulated impairment losses for goodwill at any balance sheet date reflected in the table above.

Customer-related intangible assets, acquired technologies, contract-based intangible assets, and trademarks and trade names acquired during the year ended December 31, 2021 had weighted-average amortization periods of 11.9 years, 6.0 years, 18.5 years, and 15.0 years, respectively. 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. Amortization expense of acquired intangibles was $1,295.0 million for the year ended December 31, 2021, $1,256.9 million for the year ended December 31, 2020 and $667.1 million for the year ended December 31, 2019.

The estimated amortization expense of acquired intangibles as of December 31, 2021 for the next five years, calculated using the currency exchange rate at the date of acquisition, if applicable, is as follows (in thousands):


2022	$	1,295,054
2023	1,226,690
2024	1,173,996
2025	1,110,748
2026	979,483