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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule Of Intangible Assets

Intangible assets consisted of the following:

 

 

 

Gross Carrying Value

 

Accumulated Amortization

 

Net Carrying Value

 

Weighted Average Useful Life (Years)

Client relationships

 

$539,850,000

 

$83,014,231

 

$456,835,769

 

8.40

Channel relationships

 

12,550,000

 

1,146,935

 

11,403,065

 

8.65

Software costs

 

163,957,560

 

83,162,612

 

80,794,948

 

1.48

Non-compete agreements

 

4,580,000

 

4,059,880

 

520,120

 

0.88

Trade name

 

28,140,000

 

 

28,140,000

 

Balance as of December 31, 2021

 

$749,077,560

 

$171,383,658

 

$577,693,902

 

6.79

 

 

 

 

 

 

 

 

 

Client relationships

 

$308,450,000

 

$39,920,578

 

$268,529,422

 

8.64

Channel relationships

 

12,550,000

 

191,936

 

12,358,064

 

9.65

Software costs

 

104,715,101

 

40,280,116

 

64,434,985

 

1.85

Non-compete agreements

 

4,270,000

 

2,595,333

 

1,674,667

 

1.52

Trade name

 

22,230,000

 

 

22,230,000

 

Balance as of December 31, 2020

 

$452,215,101

 

$82,987,963

 

$369,227,138

 

6.94

 

Schedule of Estimated Amortization Expense

The estimated amortization expense for the next five years and thereafter in the aggregate is as follows:

Year Ending December 31,

 

Estimated Future Amortization Expense

2022

 

$99,941,015

2023

 

81,630,840

2024

 

67,608,133

2025

 

55,288,759

2026

 

55,571,944

Thereafter

 

189,513,211