Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 7 - Goodwill and Intangible Assets, net

Goodwill

The changes in the carrying amount of goodwill for the periods presented is as follows (in thousands):


Balance as of December 31, 2021	$	1,540,112
Fruitz acquisition		41,531
Foreign currency translation adjustment		(2,593	)
Balance as of June 30, 2022	$	1,579,050

Intangible Assets, net

A summary of the Company’s intangible assets, net is as follows (in thousands):


	June 30, 2022
	Gross Carrying Amount		Accumulated Amortization			Impairment losses			Net Carrying Amount		Weighted- Average Remaining Useful Life (Years)
Bumble and Badoo brands	$	1,511,269	$	—		$	—		$	1,511,269	Indefinite
Fruitz brand		35,648		(990	)		—			34,658		14.6
Developed technology		248,659		(118,727	)		—			129,932		2.6
User base		113,474		(109,020	)		—			4,454		0.1
White label contracts		33,384		(6,953	)		(26,431	)		—		—
Other		13,474		(1,906	)		—			11,568		4.6
Total intangible assets, net	$	1,955,908	$	(237,596	)	$	(26,431	)	$	1,691,881


	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Impairment losses			Net Carrying Amount		Weighted- Average Remaining Useful Life (Years)
Bumble and Badoo brands	$	1,511,269	$	—		$	—		$	1,511,269	Indefinite
Developed technology		244,813		(93,845	)		—			150,968		3.1
User base		112,695		(86,399	)		—			26,296		0.6
White label contracts		33,384		(6,953	)		(26,431	)		—		—
Other		9,106		(841	)		—			8,265		5.3
Total intangible assets, net	$	1,911,267	$	(188,038	)	$	(26,431	)	$	1,696,798

Amortization expense related to intangible assets, net for the three months ended June 30, 2022 and 2021 was $25.0 million and $24.6 million, respectively, and for the six months ended June 30, 2022 and 2021 was $49.6 million and $49.2 million, respectively.

As of June 30, 2022, amortization of intangible assets with definite lives is estimated to be as follows (in thousands):


Remainder of 2022	$	31,236
2023		54,958
2024		54,397
2025		8,358
2026 and thereafter		28,134
Total	$	177,083