Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.20.4
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes goodwill as of December 31, 2020 (in thousands):
2020
  Stamps.com Segment Metapack Segment Total
Goodwill balance at December 31, 2019 $ 241,984  $ 142,556  $ 384,540 
Foreign currency translation —  4,213  4,213 
Goodwill balance at December 31, 2020 $ 241,984  $ 146,769  $ 388,753 

The following table summarizes goodwill as of December 31, 2019 (in thousands):
2019
  Stamps.com Segment Metapack Segment Total
Goodwill balance at December 31, 2018 $ 242,241  $ 139,469  $ 381,710 
Acquisition of Metapack (see Note 3 - "Acquisitions")
(257) (2,255) (2,512)
Foreign currency translation —  5,342  5,342 
Goodwill balance at December 31, 2019 $ 241,984  $ 142,556  $ 384,540 
Schedule of Acquired Intangible Assets
The following table summarizes our amortizable intangible assets as of December 31, 2020 (in thousands, except years):
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Remaining weighted average amortization period (years)
Patents and others $ 8,195  $ 8,195  $ —  0.0
Customer relationships 113,398  59,762  53,636  7.0
Technology
83,427  33,248  50,179  8.5
Non-compete 2,211  2,104  107  0.5
Trademarks and trade names 13,689  3,746  9,943  8.4
Total amortizable intangible assets at December 31, 2020 $ 220,920  $ 107,055  $ 113,865  7.7
The following table summarizes our amortizable intangible assets as of December 31, 2019 (in thousands, except years):
  Gross
Carrying
 Amount
Accumulated
 Amortization
Net Carrying
Amount
Remaining weighted average amortization period (years)
Patents and others $ 8,195  $ 8,195  $ —  0.0
Customer relationships 111,997  46,503  65,494  7.7
Technology 82,269  25,240  57,029  9.4
Non-compete 2,211  1,889  322  1.5
Trademarks and trade names 13,378  2,549  10,829  9.9
Total amortizable intangible assets at December 31, 2019 $ 218,050  $ 84,376  $ 133,674  8.5
Schedule of Future Amortization Expense
Our estimated amortization expense for the next five years and thereafter is as follows (in thousands):
Year Ended December 31, Estimated Amortization Expense
2021 $ 19,982 
2022 10,899 
2023 10,012 
2024 9,688 
2025 6,949 
Thereafter 56,335 
   Total $ 113,865