v3.20.1
Goodwill and Amortizable Intangible Assets
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Amortizable Intangible Assets Goodwill and Amortizable Intangible Assets
The following table presents the changes in the carrying amount of goodwill by reportable segment within the Company’s condensed consolidated balance sheets for the period indicated.
 
Graduate
Program Segment
 
Alternative
Credential Segment
 
Total
 
(in thousands)
Balance as of December 31, 2019
$
—

 
$
418,350

 
$
418,350

Foreign currency translation adjustments
—

 
(13,617
)
 
(13,617
)
Balance as of March 31, 2020
$
—


$
404,733


$
404,733


The carrying amount of goodwill in the Alternative Credential Segment included accumulated impairment charges of $70.4 million each as of March 31, 2020 and December 31, 2019.
The following table presents the components of amortizable intangible assets, net within the Company’s condensed consolidated balance sheets for each of the periods indicated.
 
 
 
March 31, 2020
 
December 31, 2019
 
Estimated
Average Useful
Life (in years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
(in thousands)
Capitalized technology
3-5
 
$
147,910

 
$
(48,972
)
 
$
98,938

 
$
142,712

 
$
(41,106
)
 
$
101,606

Capitalized content development
4-5
 
178,014

 
(62,020
)
 
115,994

 
167,758

 
(54,736
)
 
113,022

University client relationships
9-10
 
105,203

 
(13,679
)
 
91,524

 
110,344

 
(12,419
)
 
97,925

Trade names and domain names
5-10
 
24,918

 
(6,398
)
 
18,520

 
26,462

 
(5,940
)
 
20,522

Total amortizable intangible assets, net
 
 
$
456,045

 
$
(131,069
)
 
$
324,976

 
$
447,276

 
$
(114,201
)
 
$
333,075


The amounts presented in the table above include $26.5 million and $30.7 million of in process capitalized technology and content development as of March 31, 2020 and December 31, 2019, respectively.
Amortizable intangible assets recognized in connection with the acquisition of Trilogy consisted of developed technology of $48.1 million, developed content of $48.1 million, university client relationships of $84.2 million and trade names and domain names of $7.1 million, and are included in the balances presented in the table above as of March 31, 2020.
The Company recorded amortization expense related to amortizable intangible assets of $20.2 million and $7.0 million for the three months ended March 31, 2020 and 2019, respectively.
The following table presents the estimated future amortization expense of the Company’s amortizable intangible assets placed in service as of March 31, 2020.
 
Future Amortization Expense
 
(in thousands)
2021
$
60,365

2022
73,532

2023
57,564

2024
41,214

2025
22,536

Thereafter
43,224

Total
$
298,435