Goodwill and Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

16.	Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):

	Goodwill
Balance at December 31, 2020	$	556,211
Cumulative translation adjustment		181
Balance at March 31, 2021	$	556,392

For additional information on Goodwill, see Note 4—“Acquisitions.”

Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets.

Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):

	March 31, 2021
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	252,743	$	82,068	$	170,675		10.2
Technology		24,025		20,887		3,138		0.9
Noncompete agreements		30,816		29,745		1,071		5.7
Patents		10,616		10,228		388		1.5
All other		30,629		6,303		24,326		7.9
Total definite life intangible assets		348,829		149,231		199,598		9.7
Indefinite life intangible assets:
Trade names		79,570		—		79,570	N/A
Licenses		2,403		—		2,403	N/A
Total indefinite life intangible assets		81,973		—		81,973	N/A
Total	$	430,802	$	149,231	$	281,571		9.7

	December 31, 2020
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	252,241	$	77,106	$	175,135		10.4
Technology		24,025		20,031		3,994		1.2
Noncompete agreements		30,715		29,596		1,119		5.9
Patents		10,616		10,223		393		1.6
All other		29,566		5,028		24,538		8.3
Total definite life intangible assets		347,163		141,984		205,179		9.9
Indefinite life intangible assets:
Trade names		79,570		—		79,570	N/A
Licenses		2,408		—		2,408	N/A
Total indefinite life intangible assets		81,978		—		81,978	N/A
Total	$	429,141	$	141,984	$	287,157		9.9

Intangible amortization expense was $7.0 million and $8.2 million for the three months ended March 31, 2021 and 2020, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited condensed consolidated statements of operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for the three months ended March 31, 2021 and 2020.

The estimated future amortization expense of definite life intangible assets as of March 31, 2021 is as follows (in millions):

2021	$	19.9
2022		23.6
2023		21.8
2024		21.3
2025		21.3
2026 and thereafter		91.7
Total	$	199.6