| Goodwill and intangible assets |
Goodwill and intangible assets
Changes in goodwill for the years ended September 30, 2018 and 2017 are as follows (in thousands):
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Health
Services |
|
U.S. Federal
Services |
|
Human
Services |
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Total |
Balance as of September 30, 2016 |
$ |
123,679 |
|
|
$ |
228,148 |
|
|
$ |
45,731 |
|
|
$ |
397,558 |
|
Adjustment to goodwill acquired with Ascend and Assessments Australia, respectively |
(557 |
) |
|
— |
|
|
71 |
|
|
(486 |
) |
Acquisition of Revitalised |
2,830 |
|
|
— |
|
|
— |
|
|
2,830 |
|
Foreign currency translation |
2,508 |
|
|
— |
|
|
566 |
|
|
3,074 |
|
Balance as of September 30, 2017 |
128,460 |
|
|
228,148 |
|
|
46,368 |
|
|
402,976 |
|
Foreign currency translation |
(1,719 |
) |
|
— |
|
|
(1,375 |
) |
|
(3,094 |
) |
Balance as of September 30, 2018 |
$ |
126,741 |
|
|
$ |
228,148 |
|
|
$ |
44,993 |
|
|
$ |
399,882 |
|
There have been no impairment charges to our goodwill.
The following table sets forth the components of intangible assets (in thousands):
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As of September 30, 2018 |
|
As of September 30, 2017 |
|
Cost |
|
Accumulated
Amortization
|
|
Intangible
Assets, net
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|
Cost |
|
Accumulated
Amortization
|
|
Intangible
Assets, net
|
Customer contracts and relationships |
$ |
129,113 |
|
|
$ |
42,683 |
|
|
$ |
86,430 |
|
|
$ |
129,916 |
|
|
$ |
33,457 |
|
|
$ |
96,459 |
|
Technology-based intangible assets |
5,750 |
|
|
4,212 |
|
|
1,538 |
|
|
7,664 |
|
|
5,475 |
|
|
2,189 |
|
Trademarks and trade names |
4,496 |
|
|
4,429 |
|
|
67 |
|
|
4,513 |
|
|
4,392 |
|
|
121 |
|
Total |
$ |
139,359 |
|
|
$ |
51,324 |
|
|
$ |
88,035 |
|
|
$ |
142,093 |
|
|
$ |
43,324 |
|
|
$ |
98,769 |
|
As of September 30, 2018, our intangible assets have a weighted average remaining life of 11.9 years, comprising 12.0 years for customer contracts and relationships, 5.0 years for technology-based intangible assets and 1.3 years for trademarks and trade names. The estimated future amortization expense for the next five years for the intangible assets held by the Company as of September 30, 2018, is as follows (in thousands):
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2019 |
$ |
9,377 |
|
2020 |
8,279 |
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2021 |
7,416 |
|
2022 |
7,354 |
|
2023 |
7,339 |
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