NOTE 5 - GOODWILL AND OTHER INTANGIBLE ASSETS

We accounted for our historical acquisitions in accordance with ASC 805, Business Combinations. We recorded the amount exceeding the fair value of net assets acquired at the date of acquisition as goodwill. We recorded intangible assets apart from goodwill if the assets had contractual or other legal rights or if the assets could be separated and sold, transferred, licensed, rented or exchanged. Our goodwill relates to acquisitions from 2011 through 2018.

In accordance with ASC 350, Intangibles-Goodwill and Other, we review and evaluate our long-lived assets, including intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate that we may not recover their net book value. We test goodwill for impairment on an annual basis in the fourth fiscal quarter of each year, and between annual tests, if indicators of potential impairment exist, using a fair-value-based approach. There has been no impairment of goodwill for the periods presented. We amortize intangible assets not considered to have an indefinite useful life using the straight-line method over their estimated period of benefit, which generally ranges from one to nine years. Each reporting period, we evaluate the estimated remaining useful life of intangible assets and assess whether events or changes in circumstances warrant a revision to the remaining period of amortization or indicate that impairment exists. We have not identified any impairments of finite-lived intangible assets during any of the periods presented.

The following table summarizes the changes in our goodwill:

Balance at December 31, 2017	$	77,348
Goodwill recognized upon acquisitions		34,216
Adjustments to goodwill associated with acquisitions		81
Foreign exchange adjustment to goodwill		(258	)
Balance at December 31, 2018	$	111,387

The gross carrying amount and accumulated amortization of our intangible assets as of December 31, 2018 and December 31, 2017 are as follows:

			2018
Intangible Assets	Weighted Average Amortization Period (in Years)		Gross		Accumulated Amortization			Net

Developed Technology		6.0	$	14,805	$	(7,065	)	$	7,740
Customer Relationships		8.5		85,094		(20,601	)		64,493
Reseller Relationships		7.0		853		(853	)		-
Trade Names		12.2		5,187		(1,241	)		3,946
Noncompete Agreements		5.2		1,032		(451	)		581
		8.3	$	106,971	$	(30,211	)	$	76,760

			2017
Intangible Assets	Weighted Average Amortization Period (in Years)		Gross		Accumulated Amortization			Net

Developed Technology		6.7	$	11,925	$	(5,010	)	$	6,915
Customer Relationships		9.5		37,096		(13,142	)		23,954
Reseller Relationships		7.0		853		(761	)		92
Trade Names		10.4		2,915		(884	)		2,031
Noncompete Agreements		6.1		692		(130	)		562
		8.8	$	53,481	$	(19,927	)	$	33,554

We record amortization expense using the straight-line method over the estimated useful lives of the intangible assets, as noted above. Amortization expenses were $8,692 and $4,477 for 2018 and 2017, respectively, included in Operating Expenses. Amortization expenses recorded in Cost of Sales were $1,607 and $453 for 2018 and 2017, respectively.

The following table summarizes the future estimated amortization expense relating to our intangible assets as of December 31, 2018:

Year Ending
2019	$	12,084
2020		11,249
2021		10,757
2022		9,918
2023		8,096
Thereafter		24,656
Total	$	76,760