Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

8.   Goodwill and Other Intangible Assets

The following table presents the Company’s intangible assets (other than goodwill) and the related amortization:

	WEIGHTED
	AVERAGE	DECEMBER 31, 2021						DECEMBER 31, 2020
	AMORTIZATION	GROSS						GROSS
	PERIOD	CARRYING		ACCUMULATED				CARRYING		ACCUMULATED
	(IN YEARS)	AMOUNT		AMORTIZATION		NET		AMOUNT		AMORTIZATION		NET
Acquired software	14.38	$	127,123	$	(12,258)	$	114,865	$	24,275	$	(8,099)	$	16,176
Capitalized software development costs	2.71		31,477		(20,137)		11,340		24,009		(13,930)		10,079
Non-compete agreements	1.73		1,391		(1,247)		144		1,353		(1,145)		208
Trade names	15.36		56,483		(9,142)		47,341		40,683		(6,845)		33,838
Customer relationships	11.04		464,678		(126,545)		338,133		433,297		(97,153)		336,144
Total		$	681,152	$	(169,329)	$	511,823	$	523,617	$	(127,172)	$	396,445

Amortization expense for intangible assets was $42,980, $40,310, and $38,964 for the years ended December 31, 2021, 2020, and 2019, respectively. Amortization expense of $4,265, $2,896, and $2,723 was recorded in cost of revenues for the years ended December 31, 2021, 2020, and 2019, respectively.

The remaining amortization of $38,715, $37,414, and $36,241 was recorded in operating expenses for the years ended December 31, 2021, 2020, and 2019, respectively.

Based on the current amount of intangibles subject to amortization, the estimated annual amortization expense for each of the succeeding five years and thereafter is as follows:

			CAPITALIZED
			SOFTWARE		NON-
	ACQUIRED		DEVELOPMENT		COMPETE		TRADE		CUSTOMER
	SOFTWARE		COSTS		AGREEMENTS		NAMES		RELATIONSHIPS		TOTAL
2022	$	9,243	$	5,316	$	97	$	3,087	$	31,134	$	48,877
2023		9,054		3,690		43		3,087		31,134		47,008
2024		8,686		2,310		4		3,087		31,134		45,221
2025		8,531		24		—		3,087		31,134		42,776
2026		8,388		—		—		3,087		31,134		42,609
Thereafter		70,963		—		—		31,906		182,463		285,332
Total	$	114,865	$	11,340	$	144	$	47,341	$	338,133	$	511,823

Goodwill

The Company has not recognized any impairment charges for the years ended December 31, 2021, 2020, and 2019. A reconciliation of the change in the carrying value of goodwill is as follows:

Balance, December 31, 2019	$	514,996
Goodwill associated with 2020 business combinations		685
Foreign currency translation		2,911
Balance, December 31, 2020		518,592
Goodwill associated with 2021 business combinations		186,771
Foreign currency translation		(1,992)
Balance, December 31, 2021	$	703,371