Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

5. Goodwill and Intangible Assets

The following table presents the changes in the carrying amount of goodwill by reportable segment:


	Commercial			Government		Parking
($ in thousands)	Services			Solutions		Solutions		Total
Balance at December 31, 2021	$	425,081		$	215,400	$	198,386	$	838,867
Foreign currency translation adjustment		(1,519	)		562		—		(957	)
Balance at March 31, 2022	$	423,562		$	215,962	$	198,386	$	837,910

Intangible assets consist of the following as of the respective period-ends:


	March 31, 2022						December 31, 2021
	Weighted						Weighted
	Average	Gross					Average	Gross
	Remaining	Carrying			Accumulated		Remaining	Carrying			Accumulated
($ in thousands)	Useful Life	Amount			Amortization		Useful Life	Amount			Amortization
Trademarks	0.5 years	$	36,203		$	31,617	0.5 years	$	36,225		$	31,429
Non-compete agreements	0.8 years		62,544			53,121	1.0 years		62,555			49,982
Customer relationships	6.3 years		561,227			182,326	6.5 years		561,767			167,255
Developed technology	1.9 years		203,102			135,929	2.2 years		202,768			127,350
Gross carrying value of intangible assets			863,076		$	402,993			863,315		$	376,016
Less: accumulated amortization			(402,993	)					(376,016	)
Intangible assets, net		$	460,083					$	487,299

Amortization expense was $27.3 million and $22.7 million for the three months ended March 31, 2022 and 2021, respectively.

Estimated amortization expense in future years is expected to be: