Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

6. Goodwill and Other Intangible Assets

The Company reports all of its goodwill in the Debit and Credit segment at September 30, 2022 and December 31, 2021. Goodwill is tested for impairment at least annually on October 1 or more frequently when an event occurs or circumstances change that indicate the carrying value may not be recoverable. The Company did not identify a triggering event requiring a quantitative test for impairment as of September 30, 2022.

Intangible assets consist of customer relationships, technology, and trademarks. Intangible amortization expense was $967 and $1,088 for the three months ended September 30, 2022 and 2021, respectively, and $2,900 and $3,386 for the nine months ended September 30, 2022 and 2021, respectively.

At September 30, 2022 and December 31, 2021, intangible assets, excluding goodwill, were comprised of the following:

		September 30,						December 31,
		2022						2021
	Weighted Average			Accumulated		Net Book				Accumulated		Net Book
	Life (Years)	Cost		Amortization		Value		Cost		Amortization		Value
Customer relationships	17.2	$	55,454	$	(37,877)	$	17,577	$	55,454	$	(35,419)	$	20,035
Technology	10		7,101		(6,717)		384		7,101		(6,567)		534
Trademarks	8.7		3,330		(2,337)		993		3,330		(2,045)		1,285
Intangible assets subject to amortization		$	65,885	$	(46,931)	$	18,954	$	65,885	$	(44,031)	$	21,854

The estimated future aggregate amortization expense for the identified amortizable intangibles noted above as of September 30, 2022 was as follows:

2022 (excluding the nine months ended September 30, 2022)	$	966
2023		3,867
2024		3,630
2025		3,440
2026		2,471
Thereafter		4,580
	$	18,954