Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill was $213.7 million and $97.9 million as of September 30, 2020 and December 31, 2019, respectively. The following table displays the changes in goodwill:


	Amount
	(in thousands)
Balance at December 31, 2019	$	97,866
DivvyCloud acquisition	115,861
Balance at September 30, 2020	$	213,727

The following table presents details of our intangible assets, which include acquired identifiable intangible assets and capitalized internal-use software costs:


		As of September 30, 2020						As of December 31, 2019
	Weighted- Average Life (years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
		(in thousands)
Intangible assets subject to amortization:
Developed technology	5.6	$	54,455	$	(22,346)	$	32,109	$	35,855	$	(16,080)	$	19,775
Customer relationships	6.3	2,700		(856)		1,844		1,000		(641)		359
Trade names	5.4	1,419		(594)		825		519		(519)		—
Non-compete agreements	2.0	40		(40)		—		40		(40)		—
Total acquired intangible assets		58,614		(23,836)		34,778		37,414		(17,280)		20,134
Internal-use software	3.0	14,280		(3,116)		11,164		9,873		(1,446)		8,427
Total intangible assets		$	72,894	$	(26,952)	$	45,942	$	47,287	$	(18,726)	$	28,561

Amortization expense was $3.2 million and $2.1 million for the three months ended September 30, 2020 and 2019, respectively, and $8.2 million and $5.5 million for the nine months ended September 30, 2020 and 2019, respectively.

Estimated future amortization expense of the acquired identifiable intangible assets and completed capitalized internal-use software costs as of September 30, 2020 was as follows (in thousands):


2020 (for the remaining three months)	$	3,246
2021	12,245
2022	9,374
2023	6,611
2024	3,868
2025 and thereafter	4,571
Total	$	39,915

The table above excludes the impact of $6.0 million of capitalized internal-use software costs for projects that have not been completed as of September 30, 2020, and, therefore, we have not determined the useful life of the software, nor have all the costs associated with these projects been incurred.