Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2021

Intangible Assets and Goodwill

Schedule of components of intangible assets

The following table provides the components of the Company’s intangible assets (in thousands, except weighted average amortization period in years):

	Weighted
	Average	As of September 30, 2021						As of December 31, 2020
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	12.6	$	272,028	$	(118,362)	$	153,666	$	176,354	$	(106,552)	$	69,802
Other intangible assets:
Software (a)	4.4	$	49,119	$	(27,012)	$	22,107	$	44,389	$	(18,926)	$	25,463
Trademarks	8.3		2,352		(1,471)		881		2,325		(1,274)		1,051
Non-compete agreements	5.0		12,897		(3,868)		9,029		3,920		(2,814)		1,106
Training materials	5.0		2,400		(1,480)		920		2,400		(1,120)		1,280
Other	5.3		1,670		(888)		782		1,670		(601)		1,069
Total other intangible assets	4.7	$	68,438	$	(34,719)	$	33,719	$	54,704	$	(24,735)	$	29,969

(a) As of September 30, 2021 and December 31, 2020, capitalized software development costs of $3.5 million and $1.4 million, respectively, were related to technology projects not yet complete and ready for their intended use and thus were not subject to amortization.

Schedule of estimated future amortization of intangible assets, other than goodwill

The estimated future amortization expense related to intangible assets includes the estimated amortization expense associated with the Company’s intangible assets assumed with the Company’s acquisitions (in thousands):

As of September 30, 2021
Remainder of 2021	$	8,749
2022		32,598
2023		28,011
2024		24,569
2025		20,163
Thereafter		73,295
	$	187,385

Schedule of changes to goodwill

The following table presents changes to goodwill by reportable segment (in thousands):

	Real Estate		Mortgage		Total
Balance, January 1, 2021	$	146,725	$	18,633	$	165,358
Purchase price adjustments		133		—		133
Goodwill recognized from acquisitions		108,269		—		108,269
Impairment charge		(5,123)		—		(5,123)
Effect of changes in foreign currency exchange rates		(247)		—		(247)
Balance, September 30, 2021	$	249,757	$	18,633	$	268,390