Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022						As of December 31, 2021
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	12.6	$	264,274	$	(139,753)	$	124,521	$	267,770	$	(123,938)	$	143,832
Other intangible assets:
Software (a)	4.1	$	47,416	$	(29,223)	$	18,193	$	51,368	$	(29,682)	$	21,686
Trademarks	8.3		2,401		(1,833)		568		2,356		(1,533)		823
Non-compete agreements	4.3		12,899		(4,075)		8,824		13,100		(4,563)		8,537
Training materials	5.0		2,400		(1,960)		440		2,400		(1,600)		800
Other	6.6		870		(377)		493		1,670		(986)		684
Total other intangible assets	4.4	$	65,986	$	(37,468)	$	28,518	$	70,894	$	(38,364)	$	32,530

(a) As of September 30, 2022 and December 31, 2021, capitalized software development costs of $3.6 million and $1.9 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

As of September 30, 2022, 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):

Remainder of 2022	$	8,641
2023		29,866
2024		24,699
2025		20,596
2026		14,376
Thereafter		54,861
	$	153,039

Schedule of changes to goodwill

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

	Real Estate		Mortgage		Total
Balance, January 1, 2022	$	250,482	$	18,633	$	269,115
Purchase price adjustments		(332)		—		(332)
Effect of changes in foreign currency exchange rates		(3,693)		—		(3,693)
Balance, September 30, 2022	$	246,457	$	18,633	$	265,090