The Company made seven acquisitions during the three-month period ended March 31, 2020, and 30 acquisitions for the year ended December 31, 2019, some of which have been disclosed on various press releases and related Current Reports on Form 8- K. For the seven acquisitions so far in 2020, the preliminary values of major classes of assets acquired and liabilities assumed recorded at the date of acquisition, as adjusted during the valuation period, are included in the reconciliation of the total consideration as follows (in thousands):

Schedule of Assets Acquired and Liabilities assumed recorded at the date of acquisition.

Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets of businesses acquired. For the three-month period ending March 31, 2020, $26.5 million of goodwill was added related to the seven acquisitions noted above. The cumulative carrying amount of goodwill was $596.1 million and $572.8 million at March 31, 2020 and December 31, 2019, respectively. Goodwill generally changes due to the timing of acquisitions, finalization of allocation of purchase prices of previous acquisitions and foreign currency translations. The carrying amount of goodwill in foreign countries was $53.9 million at March 31, 2020 and $55.8 million at December 31, 2019.

The Company completed its most recent annual impairment analysis as of September 30, 2019. Based upon the results of this analysis, the Company has concluded that no impairment of its goodwill or other intangible assets was indicated.

The carrying amount of customer contracts was $279.4 million and $273.7 million at March 31, 2020 and December 31, 2019, respectively. The carrying amount of trademarks and tradenames was $104.9 million and $102.5 million at March 31, 2020 and December 31, 2019, respectively. The carrying amount of other intangible assets was $10.3 and $10.5 million at March 31, 2020 and December 31, 2019, respectively. The carrying amount of customer contracts in foreign countries was $32.9 million and $33.5 million at March 31, 2020 and December 31, 2019, respectively. The carrying amount of trademarks and tradenames in foreign countries was $3.1 million and $3.4 million at March 31, 2020 and December 31, 2019, respectively. The carrying amount of other intangible assets in foreign countries was $1.0 million and $1.2 million at March 31, 2020 and December 31, 2019, respectively.

ROLLINS, INC. AND SUBSIDIARIES

Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. The following table sets forth the components of intangible assets as of March 31, 2020 (in thousands):