Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets, net (Tables)

v3.20.4
Goodwill and Intangible Assets, net (Tables)
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The change in the carrying value of goodwill is as follows (in thousands):
Balance—January 1, 2018 $ 87,543 
Acquisition of Omni (Note 3) 7,551 
Balance—December 31, 2019 95,094 
Acquisition of Vivint Solar (Note 3) $ 4,185,075 
Balance—December 31, 2020 $ 4,280,169 
Summary of intangible assets, net
Finite-lived intangible assets are initially recorded at fair value and are subsequently presented net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives as follows:
Customer relationships
5 -10 years
Developed technology 5 years
Trade names
5 - 8 years
Intangible assets, net as of December 31, 2020 consist of the following (in thousands, except weighted average remaining life):
Cost
Accumulated
amortization
Carrying
value
Weighted
average
remaining life
(in years)
Customer relationships $ 32,770  $ (15,349) $ 17,421  3.6
Developed technology 6,820  (6,820) —  — 
Trade names 6,990  (6,149) 841  2.3
Total
 $ 46,580  $ (28,318) $ 18,262 
Intangible assets, net as of December 31, 2019 consist of the following (in thousands, except weighted average remaining life):
Cost
Accumulated
amortization
Carrying
value
Weighted
average
remaining life
(in years)
Customer relationships
 $ 28,870  $ (10,837) $ 18,033  4.3
Developed technology
 6,820  (6,525) 295  0.3
Trade names
 6,990  (5,775) 1,215  3.3
Total
 $ 42,680  $ (23,137) $ 19,543 
Schedule of expected amortization of intangible assets As of December 31, 2020, expected amortization of intangible assets for each of the five succeeding fiscal years and thereafter is as follows (in thousands):
2021 $ 5,371 
2022 5,364 
2023 4,673 
2024 2,269 
2025 585 
Thereafter
 — 
Total
 $ 18,262