INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The activity for goodwill as of December 31, 2021 is as follows:


(in thousands)
Balance at December 31, 2020	455,206
Measurement period adjustments	—
Acquisitions	—
Impairment	—
Balance at December 31, 2021	$	455,206

The carrying amount of goodwill by reporting unit as of December 31, 2021, and December 31, 2020 was $88.9 million for Advanced Plan Administration, $190.1 million for Supplemental Benefits Administration, $138.2 million for Value Based Payment Assurance and $38.0 million for Advisory Services, for each period.

The goodwill allocated to the Technology Enabled Solutions and Advisory Services reportable segments is $417.3 million and $37.9 million, respectively as of December 31, 2021. Goodwill is assessed for impairment on an annual basis and on an interim basis when indicators of impairment exist. On October 1, 2021, we completed our annual goodwill impairment test, based on a quantitative assessment, and determined there was no impairment. There were no indicators of impairment as of December 31, 2021.

The carrying value of identifiable intangible assets consisted of the following as of December 31, 2021:


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets
Trade names	$	27,300	$	(3,395)	$	23,905
Customer relationships	189,000		(40,091)		148,909
Technology	47,800		(11,153)		36,647
Capitalized software development costs	12,454		(1,901)		10,553
Total intangible assets	$	276,554	$	(56,540)	$	220,014

The carrying value of identifiable intangible assets consisted of the following as of December 31, 2020:


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets
Trade names	$	27,300	$	(1,940)	$	25,360
Customer relationships	189,000		(22,909)		166,091
Technology	47,800		(6,373)		41,427
Capitalized software development costs	6,405		(441)		5,964
Total intangible assets	$	270,505	$	(31,663)	$	238,842

Amortization expense for Trade names, Customer relationships and Technology for the years ended December 31, 2021, and 2020, totaled $23.4 million for each period. For the period from Inception to December 31, 2019 (Successor) and period from January 1, 2019 to September 3, 2019 (Predecessor), amortization expense for Trade names, Customer relationships and Technology was $7.8 million and $10.6 million, respectively.

Amortization expense for Capitalized software development costs for the years ended December 31, 2021, and 2020, totaled $1.5 million and $0.4 million, respectively. For the period from January 1, 2019 to September 3, 2019 (Predecessor), the amortization expense for Capitalized software development costs was $0.7 million. For the period from Inception to December 31,2019 (Successor), amortization expense was immaterial.

We expect to recognize amortization of all intangible assets over a weighted average period of 9.13 years with no expected residual values. These charges are classified as operating expenses in the consolidated statements of operations and comprehensive (loss) income. Expected future amortization expense consists of the following for each of the following years ended December 31:


(in thousands)
2022	$	25,117
2023	24,784
2024	24,101
2025	23,462
2026	23,344
Thereafter	99,206
Total	$	220,014