Goodwill And Other Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4 – Goodwill and Other Intangible Assets

Goodwill allocated to the Company’s reportable segments were as follows:


(in thousands)	Americas		Asia		Total
Goodwill as of September 30, 2022 and December 31, 2021	$	154,014	$	38,102	$	192,116

Other assets, net consist primarily of acquired identifiable intangible assets and capitalized purchased software costs. Acquired identifiable intangible assets and purchased software as of September 30, 2022 and December 31, 2021 were as follows:


(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	99,981	$	(64,282	)	$	35,699
Purchased software costs		51,910		(35,621	)		16,289
Technology licenses		26,800		(26,800	)		—
Trade names and trademarks		7,800		—			7,800
Other		868		(374	)		494
Intangible assets, September 30, 2022	$	187,359	$	(127,077	)	$	60,282


(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	100,136	$	(59,680	)	$	40,456
Purchased software costs		49,788		(34,325	)		15,463
Technology licenses		26,800		(26,800	)		—
Trade names and trademarks		7,800		—			7,800
Other		868		(356	)		512
Intangible assets, December 31, 2021	$	185,392	$	(121,161	)	$	64,231

Customer relationships are being amortized on a straight-line basis over a period of 10 to 14 years. Capitalized purchased software costs are amortized straight-line over the estimated useful life of the related software, which ranges from 2 to 14 years. Technology licenses are being amortized over their estimated useful lives in proportion to the economic benefits consumed. The Company’s acquired trade names and trademarks have been determined to have an indefinite life. Amortization on the statements of cash flow for the nine months ended September 30, 2022 and 2021 were as follows:


	Nine Months Ended September 30,
(in thousands)	2022		2021
Amortization of intangible assets	$	4,792	$	4,793
Amortization of capitalized purchased software costs		3,019		1,490
Amortization of debt costs		302		345
	$	8,113	$	6,628

The estimated future amortization expense of acquired intangible assets for each of the next five years is as follows (in thousands):


Year ending December 31,	Amount
2022 (remaining three months)	$	1,592
2023	$	5,979
2024	$	4,817
2025	$	4,817
2026	$	4,817