Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2022						As of December 31, 2021
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	12.3	$	224,397	$	(104,223)	$	120,174	$	267,770	$	(123,938)	$	143,832
Other intangible assets:
Software (a)	4.0	$	48,658	$	(32,198)	$	16,460	$	51,368	$	(29,682)	$	21,686
Trademarks	8.6		1,713		(1,272)		441		2,356		(1,533)		823
Non-compete agreements	4.3		12,953		(4,878)		8,075		13,100		(4,563)		8,537
Training materials	5.0		2,400		(2,080)		320		2,400		(1,600)		800
Other	7.0		870		(403)		467		1,670		(986)		684
Total other intangible assets	4.3	$	66,594	$	(40,831)	$	25,763	$	70,894	$	(38,364)	$	32,530

(a) As of December 31, 2022 and 2021, capitalized software development costs of $4.6 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 December 31, 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):

2023		29,727
2024		25,159
2025		21,244
2026		14,584
2027		9,136
Thereafter		46,087
	$	145,937

Schedule of changes to goodwill

The following table presents changes to goodwill by reportable segment for the period from January 1, 2021 to December 31, 2022 (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		108,938		—		108,938
Impairment Charge		(5,123)		—		(5,123)
Effect of changes in foreign currency exchange rates		(191)		—		(191)
Balance, January 1, 2022	$	250,482	$	18,633	$	269,115
Purchase price adjustments		(332)		—		(332)
Impairment charge		(7,100)		—		(7,100)
Effect of changes in foreign currency exchange rates		(3,057)		—		(3,057)
Balance, December 31, 2022	$	239,993	$	18,633	$	258,626