Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30, 2023						As of December 31, 2022
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	12.3	$	225,411	$	(114,144)	$	111,267	$	224,397	$	(104,223)	$	120,174
Other intangible assets:
Software (a)	4.2	$	50,456	$	(35,628)	$	14,828	$	48,658	$	(32,198)	$	16,460
Trademarks	9.2		1,718		(1,343)		375		1,713		(1,272)		441
Non-compete agreements	4.3		13,044		(6,536)		6,508		12,953		(4,878)		8,075
Training materials	5.0		2,400		(2,320)		80		2,400		(2,080)		320
Other	7.0		870		(520)		350		870		(403)		467
Total other intangible assets	4.4	$	68,488	$	(46,347)	$	22,141	$	66,594	$	(40,831)	$	25,763

(a) As of June 30, 2023 and December 31, 2022, capitalized software development costs of $1.1 million and $4.6 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 June 30, 2023, 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 2023	$	14,764
2024		25,747
2025		21,921
2026		15,452
2027		8,886
Thereafter		46,638
	$	133,408

Schedule of changes to goodwill

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

	Real Estate		Mortgage		Total
Balance, January 1, 2023	$	239,993	$	18,633	$	258,626
Effect of changes in foreign currency exchange rates		1,086		—		1,086
Balance, June 30, 2023	$	241,079	$	18,633	$	259,712