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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The changes in goodwill during the period January 1 to December 31, 2020 were as follows:

(In thousands)			Fleet Solutions Segment						Travel and Corporate Solutions Segment						Health and Employee Benefit Solutions Segment						Total
Gross goodwill, January 1, 2020			$	1,378,107					$	455,007					$	622,109					$	2,455,223
Current year acquisition			—						291,884						—						291,884
Current year sale of subsidiary			(3,225)						—						(9,936)						(13,161)
Foreign currency translation			17,829						4,507						(3,969)						18,367
Gross goodwill, December 31, 2020			$	1,392,711					$	751,398					$	608,204					$	2,752,313
Accumulated impairment, January 1, 2020			$	(4,087)					$	(9,935)					$	—					$	(14,022)
Current year sale of subsidiary			3,225						—						—						3,225
WEX Fleet Europe impairment1			(53,378)						—						—						(53,378)
Accumulated impairment, December 31, 2020			$	(54,240)					$	(9,935)					$	—					$	(64,175)
Net goodwill, January 1, 2020			$	1,374,020					$	445,072					$	622,109					$	2,441,201
Net goodwill, December 31, 2020			$	1,338,471					$	741,463					$	608,204					$	2,688,138

1 During the Company's annual goodwill assessment completed as of October 1, 2020, management determined that the reduced volumes attributable in part to COVID-19, had a significant negative impact on the fair value of the WEX Fleet Europe reporting unit (the 2019 Go Fuel Card acquisition). The fair value of the reporting unit was calculated using a combination of the income and market approaches, utilizing significant judgments including estimated cash flows and market prices from comparable businesses. As the carrying value of this reporting unit exceeded its fair value, the Company recorded a non-cash goodwill impairment charge of $53.4 million to the Fleet Solutions segment. There is $65.8 million remaining goodwill associated with this reporting unit.

    The changes in goodwill during the period January 1 to December 31, 2019 were as follows:

(In thousands)			Fleet Solutions Segment						Travel and Corporate Solutions Segment						Health and Employee Benefit Solutions Segment						Total
Gross goodwill, January 1, 2019			$	1,251,501					$	244,632					$	350,193					$	1,846,326
2019 acquisitions			128,251						209,887						272,399						610,537
Foreign currency translation			(1,645)						488						(483)						(1,640)
Gross goodwill, December 31, 2019			$	1,378,107					$	455,007					$	622,109					$	2,455,223
Accumulated impairment, January 1, 2019			$	(4,205)					$	(9,992)					$	—					$	(14,197)
Foreign currency translation			118						57						—						175
Accumulated impairment, December 31, 2019			$	(4,087)					$	(9,935)					$	—					$	(14,022)
Net goodwill, January 1, 2019			$	1,247,296					$	234,640					$	350,193					$	1,832,129
Net goodwill, December 31, 2019			$	1,374,020					$	445,072					$	622,109					$	2,441,201

Definite-Lived Intangible Assets

Other intangible assets consist of the following:

			December 31, 2020																		December 31, 2019
(in thousands)			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Definite-lived intangible assets
Acquired software and developed technology			$	327,134					$	(164,245)					$	162,889					$	269,888					$	(142,239)					$	127,649
Customer relationships			1,842,709						(608,178)						1,234,531						1,762,066						(478,680)						1,283,386
Licensing agreements			152,805						(35,010)						117,795						145,295						(24,160)						121,135
Patent			2,549						(2,549)						—						2,319						(2,183)						136
Trade names and brand names			61,978						(25,181)						36,797						62,275						(19,531)						42,744
Total			$	2,387,175					$	(835,163)					$	1,552,012					$	2,241,843					$	(666,793)					$	1,575,050

Indefinite-Lived Intangible Assets

Other intangible assets consist of the following:

			December 31, 2020																		December 31, 2019
(in thousands)			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Definite-lived intangible assets
Acquired software and developed technology			$	327,134					$	(164,245)					$	162,889					$	269,888					$	(142,239)					$	127,649
Customer relationships			1,842,709						(608,178)						1,234,531						1,762,066						(478,680)						1,283,386
Licensing agreements			152,805						(35,010)						117,795						145,295						(24,160)						121,135
Patent			2,549						(2,549)						—						2,319						(2,183)						136
Trade names and brand names			61,978						(25,181)						36,797						62,275						(19,531)						42,744
Total			$	2,387,175					$	(835,163)					$	1,552,012					$	2,241,843					$	(666,793)					$	1,575,050

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents the estimated amortization expense related to the definite-lived intangible assets listed above for each of the next five fiscal years:

(in thousands)
2021			$	182,080
2022			$	168,842
2023			$	157,711
2024			$	145,252
2025			$	130,911

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