Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.19.3.a.u2
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the carrying amount of goodwill for the year ended December 31, 2019 were as follows (in thousands):
 
2019
 
Stamps.com Segment
 
MetaPack Segment
 
Total
Goodwill balance at December 31, 2018
$
239,705

 
$
142,005

 
$
381,710

Acquisition of MetaPack (see Note 3 - "Acquisitions")

 
(2,512
)
 
(2,512
)
Foreign currency translation

 
5,342

 
5,342

Goodwill balance at December 31, 2019
$
239,705

 
$
144,835

 
$
384,540



Changes in the carrying amount of goodwill for the year ended December 31, 2018 were as follows (in thousands):
 
2018
 
Stamps.com Segment
 
MetaPack Segment
 
Total
Goodwill balance at December 31, 2017
$
239,705

 
$

 
$
239,705

Acquisition of MetaPack (see Note 3 - "Acquisitions")

 
141,468

 
141,468

Foreign currency translation

 
537

 
537

Goodwill balance at December 31, 2018
$
239,705

 
$
142,005

 
$
381,710


Schedule of Acquired Intangible Assets
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



The following table summarizes our amortizable intangible assets as of December 31, 2018 (in thousands, except years):
 
Gross
Carrying
 Amount
 
Accumulated
 Amortization
 
Net Carrying
Amount
 
Remaining weighted average amortization period (years)
Patents and Others
$
8,889

 
$
8,866

 
$
23

 
0.5
Customer Relationships
110,194

 
33,299

 
76,895

 
8.6
Technology
80,878

 
17,451

 
63,427

 
10.3
Non-Compete
2,211

 
1,668

 
543

 
2.4
Trademarks and Trade Names
12,977

 
1,395

 
11,582

 
10.8
Total amortizable intangible assets at
December 31, 2018
$
215,149

 
$
62,679

 
$
152,470

 
9.4

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
2020
$
22,199

2021
19,806

2022
10,627

2023
9,836

2024
9,513

Thereafter
61,693

   Total
$
133,674