Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6 - GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the fiscal years ended December 31 were as follows:


	2022			2021
Balance as of January 1, 2022	$	1,046,760		$	909,913
Goodwill resulting from business combination - ESAC		87			11,226
Goodwill resulting from business combination - Creative Systems and Consulting		1,939			126,118
Goodwill resulting from business combination - SemanticBits, LLC		159,677			—
Goodwill resulting from business combination - Blanton & Associates		9,712			—
Effect of foreign currency translation		(5,277	)		(497	)
Balance as of December 31, 2022	$	1,212,898		$	1,046,760

Other Intangible Assets

Intangible assets with definite lives are primarily amortized over periods ranging from approximately 1 to 10 years. The weighted-average period of amortization for all intangible assets, calculated as of December 31, 2022, is 6.9 years. The customer-related intangible assets, which consist of customer contracts, backlog, and non-contractual customer relationships, are being amortized based on estimated cash flows and respective estimated economic benefit of the assets. The weighted-average period of amortization of the customer-related intangibles calculated as of December 31, 2022 is 6.9 years. Intangible assets related to developed technology are being amortized on an accelerated basis over a weighted-average period, calculated as of December 31, 2022, of 9.2 years. Intangible assets with an indefinite life consist of a domain name.

Other intangibles consisted of the following at December 31:


	2022
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Customer-related	$	240,591	$	(118,412	)	$	122,179
Developed technology		4,480		(512	)		3,968
Trade name		1,180		(884	)		296
Total amortizable intangible assets		246,251		(119,808	)		126,443
Intangible with indefinite life		94		—			94
Total other intangible assets	$	246,345	$	(119,808	)	$	126,537


	2021
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Customer-related	$	167,577	$	(92,494	)	$	75,083
Developed technology		5,411		(944	)		4,467
Total amortizable intangible assets		172,988		(93,438	)		79,550
Intangible with indefinite life		95		—			95
Total other intangible assets	$	173,083	$	(93,438	)	$	79,645

Aggregate amortization expense for the years ended December 31, 2022, 2021, and 2020, was approximately $28.4 million, $12.5 million, and $13.3 million, respectively. The estimated future amortization expense relating to intangible assets is as follows:


Year ending December 31,
2023	$	35,992
2024		35,068
2025		30,211
2026		16,607
2027		1,441
Thereafter		7,124
Total	$	126,443