Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following tables set forth the changes in the carrying amount of the Company's goodwill for the six months ended June 30, 2023 and the year ended December 31, 2022.


	Thryv U.S.				Thryv International
(in thousands)	Marketing Services		SaaS		Marketing Services		SaaS		Total
Balance as of December 31, 2021	$	390,573	$	218,884	$	62,429	$	—	$	671,886
Additions	—		—		—		—		—
Impairments	(102,000)		—		—		—		(102,000)
Effects of foreign currency translation	—		—		(3,882)		—		(3,882)
Balance as of December 31, 2022	$	288,573	$	218,884	$	58,547	$	—	$	566,004
Additions	—		—		—		—		—
Impairments	—		—		—		—		—
Yellow Acquisition1	—		—		5,129		—		5,129
Effects of foreign currency translation	—		—		(1,353)		—		(1,353)
Balance as of June 30, 2023	$	288,573	$	218,884	$	62,323	$	—	$	569,780

(1) Yellow was included in the International Marketing Services reporting unit.

Intangible Assets

The following tables set forth the details of the Company's intangible assets as of June 30, 2023 and December 31, 2022:


	As of June 30, 2023
(in thousands)	Gross		Accumulated Amortization		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	797,800	$	(777,849)	$	19,951	1.7
Trademarks and domain names	223,905		(217,859)		6,046		1.9
Patented technologies	19,600		(19,600)		—		0.0
Covenants not to compete	10,352		(5,028)		5,324		1.2
Total intangible assets	$	1,051,657	$	(1,020,336)	$	31,321	1.6


	As of December 31, 2022
(in thousands)	Gross		Accumulated Amortization		Net		Weighted Average Remaining Amortization Period in Years
Client relationships	$	796,213	$	(771,475)	$	24,738	1.8
Trademarks and domain names	223,206		(215,639)		7,567		1.7
Patented technologies	19,600		(19,600)		—		0.0
Covenants not to compete	5,240		(2,830)		2,410		2.0
Total intangible assets	$	1,044,259	$	(1,009,544)	$	34,715	1.8

Amortization expense for intangible assets for the three and six months ended June 30, 2023 was $6.5 million and $12.7 million, respectively. Amortization expense for the three and six months ended June 30, 2022 was $11.8 million and $25.0 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
2023	$	12,942
2024	15,800
2025	2,000
2026	406
2027	135
Thereafter	38
Total	$	31,321