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Intangible Assets and Goodwill
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets
The table below summarizes the Company’s intangible assets at September 30, 2023 and December 31, 2022 (in thousands):
Useful
Life
(Years)
Weighted
Average
Remaining
Life
(Years)
September 30, 2023
Intangible AssetsAccumulated Amortization Net Balance
Customer relationships
2
0.2$32,357 $(31,633)$724 
Trade names
2 - 9
5.438,832 (15,436)23,396 
Capitalized Internal Use Software32.421,362 (4,113)17,249 
Software and technology
3 - 9
5.4195,256 (74,076)121,180 
Total$287,807 $(125,258)$162,549 
Useful
Lives
(Years)
Weighted
Average
Remaining
Life
(Years)
December 31, 2022
Intangible AssetsAccumulated AmortizationNet Balance
Customer relationships
2
1.2$32,433 $(28,421)$4,012 
Trade names
2 - 9
6.238,837 (12,018)26,819 
Capitalized Internal Use Software32.48,487 (1,757)6,730 
Software and technology
3 - 9
6.1191,735 (57,464)134,271 
Total$271,492 $(99,660)$171,832 
The intangible assets are being amortized over their respective original useful lives, which range from two to nine years. The Company recorded amortization expense related to the above intangible assets of approximately $8.8 million and $8.1 million for the three months ended September 30, 2023 and 2022, respectively. The Company recorded amortization expense related to the above intangible assets of approximately $25.8 million and $27.2 million for the nine months ended September 30, 2023 and 2022, respectively.
The estimated future amortization expense associated with intangible assets, net is as follows (in thousands):
Year ended December 31, Future Amortization
2023$9,278 
202433,918 
202532,100 
202629,716 
202726,460 
Thereafter31,077 
Total$162,549 
Goodwill
The following table is a summary of the changes to goodwill for the nine months ended September 30, 2023 (in thousands):
Balance - December 31, 2022
$618,506 
Foreign currency translation adjustment(1,112)
Balance - September 30, 2023
$617,394 
As of September 30, 2023, goodwill includes an accumulated impairment charge of $148.1 million.