Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024						As of December 31, 2023
	Amortization	Initial		Accumulated		Net		Initial		Accumulated		Net
	Period	Cost		Amortization		Balance		Cost		Amortization		Balance
Franchise agreements	11.8	$	224,157	$	(133,085)	$	91,072	$	225,716	$	(124,200)	$	101,516
Other intangible assets:
Software (a)	4.1	$	55,641	$	(42,919)	$	12,722	$	52,918	$	(39,192)	$	13,726
Trademarks	9.1		981		(713)		268		971		(649)		322
Non-compete agreements	5.0		12,911		(9,210)		3,701		13,051		(8,156)		4,895
Training materials	—		2,400		(2,400)		—		2,400		(2,400)		—
Other	7.0		870		(754)		116		870		(637)		233
Total other intangible assets	4.5	$	72,803	$	(55,996)	$	16,807	$	70,210	$	(51,034)	$	19,176

(a) As of June 30, 2024 and December 31, 2023, capitalized software development costs of $1.0 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, 2024, 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 2024	$	12,886
2025		23,245
2026		16,392
2027		9,349
2028		8,316
Thereafter		37,691
	$	107,879

Schedule of changes to goodwill

The following table presents changes to goodwill at the Real Estate reporting unit (in thousands):

	Real Estate
Balance, January 1, 2024	$	241,164
Effect of changes in foreign currency exchange rates		(1,672)
Balance, June 30, 2024	$	239,492