GOODWILL AND LONG-LIVED ASSETS

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes goodwill activity by segment for the six months ended June 30, 2021 (in thousands):


	North America		International (1)		Consolidated
Balance as of December 31, 2020	$	178,685	$	36,014	$	214,699
Other (2)	—		3,776		3,776
Foreign currency translation	—		(711)		(711)
Balance as of June 30, 2021	$	178,685	$	39,079	$	217,764

(1)As of June 30, 2021, the International reporting unit had a negative carrying value.

(2)Represents the reclassification between Right-of-use assets - operating leases, net and Goodwill due to an adjustment in the allocation of impairments recorded in 2020 between those two accounts.

During the first quarter 2020, the significant deterioration in our financial performance due to the disruption in our operations from COVID-19 and the sustained decrease in our stock price required us to evaluate our goodwill and long-lived assets for impairment. In determining fair values for our reporting units, we used the discounted cash flow method and the market multiple valuation approach that use Level 3 inputs. For the six months ended June 30, 2020, we recognized $109.5 million of goodwill impairment and $22.4 million of long-lived asset impairment within our International segment related to our EMEA operations.

During the second quarter 2020, we recognized long-lived asset impairment of $13.5 million and $0.4 million within our North America and International segments, for certain asset groups due to actions taken under our restructuring plan. See Note 9, Restructuring and Related Charges, for additional information.

Future events and changing market conditions could require us to re-evaluate the estimates used in our fair value measurements, potentially resulting in additional impairment of long-lived assets or goodwill in future periods.

Impairment charges are presented within the following line items of the condensed consolidated statements of operations for the three and six months ended June 30, 2020 (in thousands):


	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
Long-lived asset impairment	$	—	$	22,351
Restructuring and related charges	13,903		13,903
Total impairment	$	13,903	$	36,254

The following table summarizes impairment for long-lived assets and restructuring and related charges by asset type for the six months ended June 30, 2020 (in thousands):


	Impairment
Property, equipment and software, net
Furniture and fixtures	$	413
Leasehold improvements (1)	7,558
Office equipment	198
Purchased software	14
Computer hardware	2,842
Right-of-use assets - finance leases, net	1,318
Capitalized software	304
Internally-developed software	2,988
Total Property, equipment and software, net	15,635
Right-of-use assets - operating leases, net (2)	19,645
Intangible assets, net	103
Other non-current assets	871
Total long-lived assets	$	36,254

(1)Includes long-lived asset impairment of $4.8 million presented within Restructuring and related charges during the three and six months ended June 30, 2020. See Note 9, Restructuring and Related Charges, for additional information.

(2)Includes right-of-use asset impairment of $9.2 million during the three and six months ended June 30, 2020. See Note 9, Restructuring and Related Charges, for additional information.

The following table summarizes intangible assets as of June 30, 2021 and December 31, 2020 (in thousands):


	June 30, 2021						December 31, 2020
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Merchant relationships	$	20,498	$	11,125	$	9,373	$	20,208	$	9,236	$	10,972
Trade names	9,687		8,097		1,590		9,651		7,921		1,730
Developed technology	554		554		—		2,121		1,863		258
Patents	11,752		5,091		6,661		10,813		4,697		6,116
Other intangible assets	17,724		7,820		9,904		17,823		6,748		11,075
Total	$	60,215	$	32,687	$	27,528	$	60,616	$	30,465	$	30,151

Amortization of intangible assets is computed using the straight-line method over their estimated useful lives, which range from 1 to 10 years. Amortization expense related to intangible assets was $2.3 million and $2.4 million for the three months ended June 30, 2021 and 2020 and $4.6 million and $4.9 million for the six months ended June 30, 2021 and 2020. As of June 30, 2021, estimated future amortization expense related to intangible assets is as follows (in thousands):


Remaining amounts in 2021	$	4,302
2022	8,359
2023	7,179
2024	3,433
2025	1,835
Thereafter	2,420
Total	$	27,528