Goodwill represents the excess of purchase consideration in a business combination over the fair value of tangible and intangible assets acquired net of the liabilities assumed. During the three months ended March 31, 2020, the Company recorded an adjustment to reduce the total purchase consideration paid for its acquisition of dataxu and its allocation to goodwill by $1.1 million. The adjustment arises from the resolution of contingencies associated with the acquisition.

The following table is the summary of Company’s intangible assets (in thousands):

	As of March 31,2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-Average Useful Lives (in years)
Developed technology	$	62,367	$	(5,504	)	$	56,863	5.9
Customer relationships		13,400		(1,396	)		12,004	4.0
Tradename		400		(333	)		67	0.5
Patents		4,076		(97	)		3,979	14.0
Intangible assets	$	80,243	$	(7,330	)	$	72,913

	As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-Average Useful Lives (in years)
Developed technology	$	62,367	$	(2,860	)	$	59,507	5.9
Customer relationships		13,400		(558	)		12,842	4.0
Tradename		400		(133	)		267	0.5
Patents		4,076		(24	)		4,052	14.0
Intangible assets	$	80,243	$	(3,575	)	$	76,668

The Company recorded expenses of $3.8 million and $0.1 million for amortization of intangible assets during the three months ended March 31, 2020 and March 31, 2019, respectively. In three months ended March 31, 2020 and 2019, the Company recorded amortization of developed technology in cost of revenue, platform, cost of revenue, player, research and development, and general and administrative expenses in the consolidated statement of operations and recorded amortization of customer relationships and tradename in sales and marketing expenses in the consolidated statement of operations.

The estimated future amortization expense for intangible asset for the next five years and thereafter is as follows (in thousands):