Goodwill and Intangible Assets
|12 Months Ended|
Dec. 31, 2019
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangible Assets||Goodwill and Intangible Assets
Goodwill represents the excess of the fair value of consideration given over the fair value of the tangible assets, identifiable intangible assets and liabilities assumed in business combinations.
Changes in the carrying amount of goodwill for the year ended December 31, 2019 were as follows (in thousands):
Changes in the carrying amount of goodwill for the year ended December 31, 2018 were as follows (in thousands):
We have amortizable and non-amortizable intangible assets consisting of trademarks, trade names, developed technology, non-compete agreements, customer relationships, and other. The gross carrying amount of amortizable and non-amortizable intangible assets was $229.4 million at December 31, 2019 and $226.5 million at December 31, 2018. Non-amortizable assets of $11.4 million as of both December 31, 2019 and December 31, 2018 consist primarily of the trade name relating to the Endicia acquisition.
The following table summarizes our amortizable intangible assets as of December 31, 2019 (in thousands, except years):
The following table summarizes our amortizable intangible assets as of December 31, 2018 (in thousands, except years):
We recorded amortization of intangible assets totaling approximately $22.2 million, $18.3 million, and $16.0 million for the years ended December 31, 2019, 2018, and 2017, respectively. Amortization of intangible assets is included in general and administrative expense in the accompanying consolidated statements of operations.
Our estimated amortization expense for the next five years and thereafter is as follows (in thousands):
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef