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 March 31, 2018 and December 31, 2017 (in thousands):

 

 

The weighted average amortization period for developed technology, customer relationships, and trademarks/trade names is 6.9 years, 8.4 years, and 12.0 years, respectively; and 7.3 years for all amortizable intangible assets in total.

 

The Company recorded amortization expense during the three months ended March 31, 2018 and 2017 for these intangible assets as follows (in thousands):

 

 

Amortization of finite lived intangible assets as of March 31, 2018 for the next five years is as follows (in thousands):