Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

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 December 31, 2022 and March 31, 2023	$	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 capitalized purchased software costs as of March 31, 2023 and December 31, 2022 were as follows:


(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	100,072	$	(67,544	)	$	32,528
Capitalized purchased software costs		55,288		(37,832	)		17,456
Technology licenses		15,500		(15,500	)		—
Trade names and trademarks		7,800		—			7,800
Other		868		(380	)		488
Intangible assets, March 31, 2023	$	179,528	$	(121,256	)	$	58,272


(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	100,072	$	(65,958	)	$	34,114
Capitalized purchased software costs		52,483		(36,702	)		15,781
Technology licenses		15,500		(15,500	)		—
Trade names and trademarks		7,800		—			7,800
Other		868		(377	)		491
Intangible assets, December 31, 2022	$	176,723	$	(118,537	)	$	58,186

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 three months ended March 31, 2023 and 2022 were as follows:


	Three Months Ended March 31,
(in thousands)	2023		2022
Amortization of intangible assets	$	1,592	$	1,609
Amortization of capitalized purchased software costs		1,050		909
Amortization of debt costs		114		85
	$	2,756	$	2,603

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 nine months)		4,388
2023		4,817
2024		4,817
2025		4,817
2026		4,817