Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following tables set forth the changes in the carrying amount of goodwill for the Company for three months ended March 31, 2022 and the year ended December 31, 2021:


(in thousands)	Marketing Services		SaaS		Thryv International		Total
Balance as of December 31, 2020	$	390,573	$	218,884	$	—	$	609,457
Thryv Australia Acquisition	—		—		64,392		64,392
Effects of foreign currency translation	—		—		(1,963)		(1,963)
Balance as of December 31, 2021	$	390,573	$	218,884	$	62,429	$	671,886
Effects of foreign currency translation	—		—		1,827		1,827
Balance as of March 31, 2022	$	390,573	$	218,884	$	64,256	$	673,713

Intangible Assets

The following tables set forth the details of the Company's intangible assets as of March 31, 2022 and December 31, 2021:


	As of March 31, 2022
(in thousands)	Gross		Accumulated Amortization		Effects of Foreign Currency Translation		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	805,095	$	(757,153)	$	1,259	$	49,201	2.5
Trademarks and domain names	225,377		(200,118)		403		25,662		1.7
Patented technologies	19,600		(19,600)		—		—		0.0
Covenants not to compete	4,436		(1,842)		—		2,594		2.3
Total intangible assets	$	1,054,508	$	(978,713)	$	1,662	$	77,457	2.2


	As of December 31, 2021
(in thousands)	Gross		Accumulated Amortization		Effects of Foreign Currency Translation		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	803,642	$	(748,460)	$	(5,326)	$	49,856	2.7
Trademarks and domain names	225,177		(193,978)		(1,389)		29,810		1.9
Patented technologies	19,600		(19,600)		—		—		0.0
Covenants not to compete	4,373		(1,462)		—		2,911		2.6
Total intangible assets	$	1,052,792	$	(963,500)	$	(6,715)	$	82,577	2.4

Amortization expense for intangible assets for the three months ended March 31, 2022 and 2021 was $13.1 million and $9.9 million, respectively.

Estimated aggregate future amortization expense by fiscal year for the Company's intangible assets is as follows:


(in thousands)	Estimated Future Amortization Expense
2022	$	40,097
2023	23,923
2024	12,714
2025	723
Total	$	77,457