v3.20.2

Goodwill and Amortizable Intangible Assets | 9 Months Ended
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Sep. 30, 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 on the Company’s condensed consolidated balance sheets for the periods indicated.
| Graduate Program Segment |  | Alternative Credential Segment |  | Total
| (in thousands) |  |  |  |
Balance as of December 31, 2019 | $ | — |  |  | $ | 418,350 |  |  | $ | 418,350 |
Foreign currency translation adjustments | — |  |  | (10,490) |  |  | (10,490) |
Balance as of September 30, 2020 | $ | — |  |  | $ | 407,860 |  |  | $ | 407,860 |
The carrying amount of goodwill in the Alternative Credential Segment included accumulated impairment charges of $70.4 million as of both September 30, 2020 and December 31, 2019. The following table presents the components of amortizable intangible assets, net on the Company’s condensed consolidated balance sheets as of each of the dates indicated.
|  |  | September 30, 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 |  | $ | 159,164 |  |  | $ | (66,861) |  |  | $ | 92,303 |  |  | $ | 142,712 |  |  | $ | (41,106) |  |  | $ | 101,606 |
Capitalized content development | 4-5 |  | 198,568 |  |  | (78,729) |  |  | 119,839 |  |  | 167,758 |  |  | (54,736) |  |  | 113,022 |
University client relationships | 9-10 |  | 106,384 |  |  | (19,483) |  |  | 86,901 |  |  | 110,344 |  |  | (12,419) |  |  | 97,925 |
Trade names and domain names | 5-10 |  | 25,613 |  |  | (8,251) |  |  | 17,362 |  |  | 26,462 |  |  | (5,940) |  |  | 20,522 |
Total amortizable intangible assets, net |  |  | $ | 489,729 |  |  | $ | (173,324) |  |  | $ | 316,405 |  |  | $ | 447,276 |  |  | $ | (114,201) |  |  | $ | 333,075 |
The amounts presented in the table above include $37.3 million and $30.7 million of in-process capitalized technology and content development as of September 30, 2020 and December 31, 2019, respectively. The Company recorded amortization expense related to amortizable intangible assets of $20.8 million and $19.2 million for the three months ended September 30, 2020 and 2019, respectively. The Company recorded amortization expense related to amortizable intangible assets of $61.8 million and $38.1 million for the nine months ended September 30, 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 September 30, 2020.
| Future Amortization Expense
| (in thousands)
Remainder of 2020 | $ | 20,577 |
2021 | 78,471 |
2022 | 62,124 |
2023 | 44,691 |
2024 | 27,366 |
Thereafter | 47,351 |
Total | $ | 280,580 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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