GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by reportable segment was as follows:


	North America		Europe		Russia		Total
Balance as of January 1, 2021	$	121,132	$	90,106	$	718	$	211,956
Emakina acquisition	—		136,614		—		136,614
PolSource acquisition	75,203		50,136		—		125,339
CORE acquisition	—		23,234		—		23,234
Other 2021 Acquisitions	21,875		18,830		—		40,705
2020 Acquisitions purchase accounting adjustments	—		(24)		—		(24)
Effect of net foreign currency exchange rate changes	(616)		(6,483)		(2)		(7,101)
Balance as of December 31, 2021	$	217,594	$	312,413	$	716	$	530,723
Emakina acquisition purchase accounting adjustments	—		2,602		—		2,602
PolSource acquisition purchase accounting adjustments	(44)		(30)		—		(74)
CORE acquisition purchase accounting adjustments	—		959		—		959
Other 2021 Acquisitions purchase accounting adjustments	(20)		937		—		917
2022 Acquisitions	—		10,124		—		10,124
Goodwill impairment	—		—		(686)		(686)
Effect of net foreign currency exchange rate changes	(570)		(14,893)		(30)		(15,493)
Balance as of December 31, 2022	$	216,960	$	312,112	$	—	$	529,072

See Note 2 “Impact of the Invasion of Ukraine” for more information regarding the goodwill impairment recorded in the Russia segment during the year ended December 31, 2022.

The Russia segment had accumulated goodwill impairment losses of $2.9 million as of December 31, 2022 and $2.2 million as of December 31, 2021 and 2020. There were no accumulated goodwill impairment losses in the North America or Europe reportable segments as of December 31, 2022, 2021 or 2020.

Intangible assets other than goodwill as of December 31, 2022 and 2021 were as follows:


	As of December 31, 2022
	Weighted average life at acquisition (in years)	Gross carrying amount		Accumulated amortization		Net carrying amount
Customer relationships	8	$	154,407	$	(82,505)	$	71,902
Trade names	4	10,520		(7,900)		2,620
Software	6	6,022		(3,644)		2,378
Contract royalties	8	1,900		(1,148)		752
Total		$	172,849	$	(95,197)	$	77,652


	As of December 31, 2021
	Weighted average life at acquisition (in years)	Gross carrying amount		Accumulated amortization		Net carrying amount
Customer relationships	10	$	156,118	$	(64,441)	$	91,677
Trade names	6	10,933		(6,086)		4,847
Software	6	6,223		(2,639)		3,584
Contract royalties	8	1,900		(910)		990
Assembled workforce	3	161		(116)		45
Total		$	175,335	$	(74,192)	$	101,143

All of the intangible assets other than goodwill have finite lives and as such are subject to amortization. Amortization of the other intangible assets is recognized in Depreciation and amortization expense in the consolidated statements of income.

The following table presents amortization expense recognized for the periods indicated:


	For the Years Ended December 31,
	2022		2021		2020
Customer relationships	$	18,946	$	15,399	$	10,478
Trade names	1,909		842		495
Software	1,086		1,114		1,068
Contract royalties	238		238		238
Assembled workforce	44		53		61
Total	$	22,223	$	17,646	$	12,340

Based on the carrying value of the Company’s existing intangible assets as of December 31, 2022, the estimated amortization expense for the future years is as follows:


Year ending December 31,	Amount
2023	$	21,727
2024	18,870
2025	15,120
2026	10,973
2027	6,918
Thereafter	4,044
Total	$	77,652