| Intangible Assets and Goodwill |
Note 5—Intangible assets and Goodwill
The carrying value of intangible assets as of December 31, 2016 and 2015 was as follows (in thousands):
|
|
|
December 31, 2016 |
|
|
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying Amount |
|
|
Trade name |
|
$ |
15,977 |
|
|
$ |
(5,361 |
) |
|
$ |
10,616 |
|
|
Developed technology |
|
|
42,558 |
|
|
|
(20,694 |
) |
|
|
21,864 |
|
|
Non-compete agreements |
|
|
4,520 |
|
|
|
(2,924 |
) |
|
|
1,596 |
|
|
Customer relationships |
|
|
31,783 |
|
|
|
(11,741 |
) |
|
|
20,042 |
|
|
|
|
$ |
94,838 |
|
|
$ |
(40,720 |
) |
|
$ |
54,118 |
|
|
|
|
December 31, 2015 |
|
|
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying Amount |
|
|
Trade name |
|
$ |
15,964 |
|
|
$ |
(3,727 |
) |
|
$ |
12,237 |
|
|
Developed technology |
|
|
36,844 |
|
|
|
(14,326 |
) |
|
|
22,518 |
|
|
Non-compete agreements |
|
|
4,341 |
|
|
|
(2,026 |
) |
|
|
2,315 |
|
|
Customer relationships |
|
|
27,894 |
|
|
|
(8,136 |
) |
|
|
19,758 |
|
|
|
|
$ |
85,043 |
|
|
$ |
(28,215 |
) |
|
$ |
56,828 |
|
Amortization expense is included in the following functional statement of operations expense categories. Amortization expense was as follows (in thousands):
|
|
|
Year ended December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Cost of revenue |
|
$ |
6,368 |
|
|
$ |
6,139 |
|
|
$ |
6,139 |
|
|
Sales and marketing |
|
|
3,605 |
|
|
|
3,487 |
|
|
|
3,487 |
|
|
General and administrative |
|
|
2,532 |
|
|
|
2,466 |
|
|
|
2,466 |
|
|
|
|
$ |
12,505 |
|
|
$ |
12,092 |
|
|
$ |
12,092 |
|
The following table presents the Company’s estimate of remaining amortization expense for each of the five succeeding fiscal years and thereafter for finite-lived intangible assets at December 31, 2016 (in thousands):
|
2017 |
|
$ |
13,285 |
|
|
2018 |
|
|
12,966 |
|
|
2019 |
|
|
10,280 |
|
|
2020 |
|
|
6,187 |
|
|
2021 |
|
|
5,024 |
|
|
Thereafter |
|
|
6,376 |
|
|
|
|
$ |
54,118 |
|
The change in the carrying amount of goodwill is as follows (in thousands):
|
Goodwill as of December 31, 2014 |
|
$ |
163,154 |
|
|
Activity during fiscal 2015 |
|
|
— |
|
|
Goodwill as of December 31, 2015 |
|
|
163,154 |
|
|
Acquisition of Runbook |
|
|
21,984 |
|
|
Goodwill as of December 31, 2016 |
|
$ |
185,138 |
|
|