Goodwill and Other Intangible Assets

A summary of the activity in goodwill is presented below (in thousands):



Balance at December 31, 2015	$	29,520
Ctrack adjustment⁽¹⁾	1,236
FW adjustment	195
Effect of change in foreign currency exchange rates	3,477
Balance at December 31, 2016	34,428
Effect of change in foreign currency exchange rates	3,253
Balance at December 31, 2017	$	37,681

⁽¹⁾

During the year ended December 31, 2016, the Company identified the need for an immaterial adjustment in the recording of net assets and goodwill in the accounting for the acquisition of Ctrack. As a result, the Company has recorded an adjustment during the year ended December 31, 2016 that increased goodwill and decreased accounts receivable. There was no change in reported cash flows in any period related to this adjustment.

The Company’s intangible assets are comprised of the following (in thousands):



	December 31, 2017
	Weighted-Average Life (in years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Developed technologies	5.6	$	18,332	$	(9,532	)	$	8,800
Trademarks and trade names	9.3	24,337		(8,911		)	15,426
Customer relationships	8.2	13,480		(4,852		)	8,628
Capitalized software development costs	5.0	6,491		(1,472		)	5,019
Other	2.8	712		(706		)	6
Total finite-lived intangible assets		$	63,352	$	(25,473	)	37,879
Indefinite-lived intangible assets:
In-process capitalized software development costs							792
Total intangible assets							$	38,671



	December 31, 2016
	Weighted-Average Life (in years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Developed technologies	5.5	$	17,247	$	(7,042	)	$	10,205
Trademarks and trade names	9.2	23,043		(6,905		)	16,138
Customer relationships	8.3	13,046		(2,993		)	10,053
Capitalized software development costs	5.0	3,579		(511		)	3,068
Other	2.7	828		(545		)	283
Total finite-lived intangible assets		$	57,743	$	(17,996	)	39,747
Indefinite-lived intangible assets:
In-process capitalized software development costs							536
Total intangible assets							$	40,283

During the year ended December 31, 2016, in-process research and development acquired in connection with the FW acquisition was completed and reclassified to developed technologies where it is being amortized over its estimated useful life.

Amortization expense for the years ended December 31, 2017, 2016 and 2015 was approximately $6.3 million, $6.2 million and $3.3 million, respectively, including approximately $0.9 million, $0.3 million and $25,000 related to capitalized software development costs for the years ended December 31, 2017, 2016 and 2015, respectively.

During the year ended December 31, 2017, the Company recorded an impairment loss on intangible assets of approximately $0.4 million, which is included in other income (expense), net, in the consolidated statements of operations. During the year ended December 31, 2016, the Company recorded an impairment loss on intangible assets of approximately $2.7 million, which is included in impairment of purchased intangibles and other income (expense), net, in the consolidated statements of operations.

The following table represents details of the amortization of finite-lived intangible assets that is estimated to be expensed in the future (in thousands):



2018	$	7,281
2019	7,274
2020	7,044
2021	5,759
2022	3,301
Thereafter	7,220
Total	$	37,879