v3.20.2

Goodwill and Amortizable Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of changes in goodwill | 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 |
Schedule of amortizable intangible assets | 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 |
Schedule of estimated future amortization expense for amortizable intangible assets | 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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