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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
5. Goodwill and Intangible Assets
Due to triggering events related to the COVID-19 pandemic, we performed a quantitative assessment, as of March 31, 2020. This assessment was based on our current projections and was subject to various risks, uncertainties and estimates including: (1) forecasted revenues, expenses and cash flows, including future travel supplier capacity and load factors, (2) the duration and extent of the impact of the COVID-19 pandemic on our business and our customers, (3) current discount and long-term growth rates, (4) the reduction in our market capitalization, (5) current market transaction trends and (6) changes to the regulatory environment impacting our industry. In estimating fair value, a key assumption was the estimate of when travel would return to pre-COVID-19 levels. Should a significant change in the estimated recovery period elongate further than our expectations, it could have a material impact on our estimates of fair value. Our interim quantitative impairment assessment as of March 31, 2020 determined that our goodwill was not impaired. We updated our goodwill assessment quarterly on a qualitative basis during 2020 and determined that our goodwill was not impaired at any reporting date in 2020. Our qualitative assessments considered the latest information available regarding the items noted above including the most recent information available regarding the duration of the recovery period to 2019 levels.
As a result of the Strategic Realignment, our historical Travel Network and Airline Solutions business segments have been combined into a new business segment, Travel Solutions. In connection with this reorganization, the historical Travel Network and Airline Solutions reporting units and their related goodwill were combined into a single Travel Solutions reporting unit, thereby requiring no reallocation of goodwill based on fair values. There was no change to our historical Hospitality Solutions reporting unit. We updated our goodwill assessment on a qualitative basis, reflecting both pre- and post-organization, for all reporting units as of June 30, 2020, and determined that our goodwill was not impaired for any reporting unit at this date.
Changes in the carrying amount of goodwill during the years ended December 31, 2020 and 2019 are as follows (in thousands):
 Travel
Solutions
Hospitality
Solutions
Total
Goodwill
Balance as of December 31, 2018$2,396,152 $156,217 $2,552,369 
Acquired
82,402 — 82,402 
Adjustments(1)
(114)(1,406)(1,520)
Balance as of December 31, 20192,478,440 154,811 2,633,251 
Adjustments(1)
(2,239)5,534 3,295 
Balance as of December 31, 2020$2,476,201 $160,345 $2,636,546 
________________________
(1)Includes net foreign currency effects during the year. 
The following table presents our intangible assets as of December 31, 2020 and 2019 (in thousands):
December 31, 2020December 31, 2019
 
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Acquired customer relationships$1,050,485 $(761,335)$289,150 $1,046,382 $(735,367)$311,015 
Trademarks and brand names333,538 (158,491)175,047 333,638 (147,735)185,903 
Reacquired rights113,500 (89,179)24,321 113,500 (73,124)40,376 
Purchased technology436,988 (418,926)18,062 437,288 (409,204)28,084 
Acquired contracts, supplier and distributor agreements
37,599 (32,813)4,786 37,599 (29,324)8,275 
Non-compete agreements14,686 (14,686)— 14,686 (14,686)— 
Total intangible assets$1,986,796 $(1,475,430)$511,366 $1,983,093 $(1,409,440)$573,653 
Amortization expense relating to intangible assets subject to amortization totaled $66 million, $65 million and $68 million for the years ended December 31, 2020, 2019 and 2018, respectively. Estimated amortization expense related to intangible assets subject to amortization for each of the five succeeding years and beyond is as follows (in thousands): 
2021$64,447 
202250,866 
202337,160 
202433,938 
202531,224 
2026 and thereafter 293,731 
Total$511,366