Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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		(5,456	)		(600	)		—		(6,056	)
Balance at June 30, 2022	$	419,625		$	214,800		$	198,386	$	832,811

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


	June 30, 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	$	36,011		$	31,751	0.5 years	$	36,225		$	31,429
Non-compete agreements	0.5 years		62,519			56,026	1.0 years		62,555			49,982
Customer relationships	6.0 years		558,889			196,813	6.5 years		561,767			167,255
Developed technology	1.7 years		201,122			144,138	2.2 years		202,768			127,350
Gross carrying value of intangible assets			858,541		$	428,728			863,315		$	376,016
Less: accumulated amortization			(428,728	)					(376,016	)
Intangible assets, net		$	429,813					$	487,299

Amortization expense was $27.1 million and $21.2 million for the three months ended June 30, 2022 and 2021, respectively, and was $54.4 million and $44.0 million for the six months ended June 30, 2022 and 2021, respectively.

Estimated amortization expense in future years is expected to be:


($ in thousands)
Remainder of 2022	$	51,632
2023		77,410
2024		66,938
2025		64,240
2026		57,183
Thereafter		112,410
Total	$	429,813