Goodwill and Acquired Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Goodwill and Acquired Intangible Assets

Goodwill

At December 31, 2022 we had $51 million in total goodwill.

Acquired Intangible Assets

Our intangible assets include acquired tradename and trademarks, customer relationships, and developed technology. Acquired intangible assets include the following:

		December 31, 2022
(Dollars in thousands)	Useful Life (in years)(1)	Cost Basis		Accumulated Amortization		Net
Tradename and trademarks	10	$	68,470	$	(5,706)	$	62,764
Customer relationships	5	5,670		(1,723)		3,947
Developed technology	3	1,260		(350)		910
Total acquired intangible assets		$	75,400	$	(7,779)	$	67,621

(1)     The weighted average useful life of acquired intangible assets related to the Nitro acquisition is 9.51 years.

We recorded amortization of acquired intangible assets totaling approximately $8 million in the year ended December 31, 2022. There was no amortization of acquired intangible assets recorded in the years ended December 31, 2021 and 2020, respectively. We will continue to amortize our intangible assets with definite useful lives over their remaining estimated useful lives. We estimate amortization expense associated with these intangible assets will be approximately $9 million, $8 million, $8 million, $7 million, and $7 million in 2023, 2024, 2025, 2026, and 2027, respectively.