Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net

v3.22.2.2
Goodwill and Intangible Assets, Net
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net

Note 8. Goodwill and Intangible Assets, net

A rollforward of goodwill is as follows:

 

 

 

 

 

 Balance at December 31, 2021

 

$

1,189,464

 

 Measurement period adjustments

 

 

(1,023

)

 Balance at June 30, 2022

 

$

1,188,441

 

 

Intangible assets, net consisted of the following:

 

 

 

June 30, 2022

 

 

 

December 31, 2021

 

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

$

70,000

 

 

$

2,448

 

 

$

67,552

 

 

 

$

70,000

 

 

$

98

 

 

$

69,902

 

Customer relationships

 

 

180,000

 

 

 

4,971

 

 

 

175,029

 

 

 

 

180,000

 

 

 

252

 

 

 

179,748

 

Developed software

 

 

15,700

 

 

 

1,647

 

 

 

14,053

 

 

 

 

15,700

 

 

 

22

 

 

 

15,678

 

Developed technology

 

 

4,300

 

 

 

451

 

 

 

3,849

 

 

 

 

4,300

 

 

 

6

 

 

 

4,294

 

Total intangible assets

 

$

270,000

 

 

$

9,517

 

 

$

260,483

 

 

 

$

270,000

 

 

$

378

 

 

$

269,622

 

 

Aggregate amortization expense related to intangible assets, excluding goodwill which is not amortized, was $4,535 and $2,704 for the three months ended June 30, 2022 and June 30, 2021, respectively, and $9,139 and $5,005 for the six months ended June 30, 2022 and June 30, 2021, respectively. There are no intangible assets, other than goodwill, with indefinite useful lives.

 

The following table represents the estimated aggregate amortization expense for each of the five succeeding fiscal calendar years.

 

Year

 

Aggregate Amortization

 

Remaining 2022

 

$

9,070

 

2023

 

 

18,140

 

2024

 

 

18,140

 

2025

 

 

18,140

 

2026

 

 

18,041