5. Goodwill and Intangible Assets

 

 

Goodwill

 

Changes in the carrying amount of goodwill consisted of the following (in thousands):

 

 

 

Goodwill represents the excess of consideration transferred over the fair value of assets acquired and liabilities assumed.

 

Amortizable Intangible Assets

 

The Company’s intangible assets and related accumulated amortization consisted of the following as of June 30, 2016 and December 31, 2015 (in thousands):

 

 

 

The weighted average amortization period for acquired technology, customer relationships, trademarks/trade names and non-competition agreements is 4.9 years, 7.9 years, 12.0 years, and 2.0 years, respectively; and 6.8 years for all amortizable intangible assets in total.

 

The Company recorded amortization expense during the respective periods for these intangible assets as follows (in thousands):

 

 

 

Amortization of finite lived intangible assets as of June 30, 2016 for the next five years is as follows (in thousands):