v3.20.2

Goodwill and Amortizable Intangible Assets (Tables)

9 Months Ended

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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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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