Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2022 and the year ended December 31, 2021:


	Thryv U.S.				Thryv International
(in thousands)	Marketing Services		SaaS		Marketing Services		SaaS		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	—		—		(7,267)		—		(7,267)
Balance as of September 30, 2022	$	390,573	$	218,884	$	55,162	$	—	$	664,619

Intangible Assets

The following tables set forth the details of the Company's intangible assets as of September 30, 2022 and December 31, 2021:


	As of September 30, 2022
(in thousands)	Gross		Accumulated Amortization		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	790,947	$	(761,033)	$	29,914	2.0
Trademarks and domain names	221,919		(209,241)		12,678		1.4
Patented technologies	19,600		(19,600)		—		0.0
Covenants not to compete	5,240		(2,502)		2,738		2.2
Total intangible assets	$	1,037,706	$	(992,376)	$	45,330	2.1


	As of December 31, 2021
(in thousands)	Gross		Accumulated Amortization		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	797,053	$	(747,197)	$	49,856	2.7
Trademarks and domain names	223,582		(193,772)		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	$	1,044,608	$	(962,031)	$	82,577	2.4

Amortization expense for intangible assets for the three and nine months ended September 30, 2022 was $14.1 million and $39.0 million, respectively. Amortization expense for the three and nine months ended September 30, 2021 was $21.3 million and $52.5 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	$	12,324
2023	20,674
2024	11,452
2025	880
Total	$	45,330