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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

As of December 31, 2022 and 2021, the Company’s intangible assets consisted of the following:

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

Brands

 

$

165,283

 

 

$

167,761

 

Software development costs

 

 

787,492

 

 

 

720,750

 

Customer relationships

 

 

1,505,839

 

 

 

1,243,030

 

Computer software

 

 

38,857

 

 

 

35,257

 

Gross carrying value

 

 

2,497,471

 

 

 

2,166,798

 

 

 

 

 

 

 

 

Brands

 

 

83,317

 

 

 

69,407

 

Software development costs

 

 

472,791

 

 

 

371,555

 

Customer relationships

 

 

624,756

 

 

 

505,732

 

Computer software

 

 

25,149

 

 

 

17,900

 

Accumulated amortization

 

 

1,206,013

 

 

 

964,594

 

Intangible assets, net

 

$

1,291,458

 

 

$

1,202,204

 

Schedule of Estimated Amortization Expense of Intangible Assets

The estimated amortization expense of intangible assets for the next five years is as follows:

 

2023

 

 

252,152

 

2024

 

 

250,681

 

2025

 

 

212,686

 

2026

 

 

125,220

 

2027

 

 

123,272

 

Summary of Intangible Asset Acquired

Intangible assets acquired by the Company during the year ended December 31, 2022 and 2021 had the following expected weighted-average useful lives:

 

 

 

2022

 

2021

Brands

 

5 years

 

7 years

Software development costs

 

3 years

 

3 years

Customer relationships

 

10 years

 

7 years

Computer software

 

3 years

 

3 years

Total weighted-average useful life

 

6.9 years

 

5.4 years