INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2023

GOODWILL AND INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

Composition of intangible assets, grouped by major classifications, is as follows:

	June 30, 2023						December 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Internal use software	$	95,168	$	(44,702)	$	50,466	$	75,195	$	(38,607)	$	36,588
Developed technology		14,769		(7,316)		7,453		14,365		(5,509)		8,856
Intangible assets, net	$	109,937	$	(52,018)	$	57,919	$	89,560	$	(44,116)	$	45,444

NOTE 6 –INTANGIBLE ASSETS (continued):

Amortization expense for the three months ended June 30, 2023 and 2022 was $4,045 and $3,016 respectively, and $7,647 and $5,555 for the six months ended June 30, 2023 and 2022, respectively.

No impairment was recognized during the three months ended June 30, 2023. During the six months ended June 30, 2023, the Company recognized impairment of internal use of software in the amount of $32, as well as the $293 impairment of acquired intangibles described in Note 2(c). The impairment is presented under Depreciation and amortization expenses on our condensed consolidated statements of comprehensive income. No impairment was recognized during the three and six months ended June 30, 2022.

Expected future intangible asset amortization as of June 30, 2023, excluding capitalized internal use software of $26,626 not yet placed in service as of that date, was as follows:

Fiscal years
2023 (Excluding the six months ended June 30, 2023)	$	7,700
2024		13,449
2025		8,972
2026		1,172
2027 and thereafter		—
Total	$	31,293