Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

3. GOODWILL AND INTANGIBLE ASSETS

Goodwill. The changes in the carrying amount of goodwill for the first quarter of 2022 were as follows (in thousands):


January 1, 2022 balance	$	321,330
Adjustments related to prior acquisitions		122
Effects of changes in foreign currency exchange rates		(2,418	)
March 31, 2022 balance	$	319,034

Other Intangible Assets. Our other intangible assets subject to ongoing amortization consist primarily of acquired customer contracts and software. As of March 31, 2022 and December 31, 2021, the carrying values of these assets were as follows (in thousands):


	March 31, 2022							December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Gross Carrying Amount		Accumulated Amortization			Net Amount
Acquired customer contracts	$	170,206	$	(115,726	)	$	54,480	$	171,373	$	(114,166	)	$	57,207
Software		185,724		(156,490	)		29,234		182,040		(152,283	)		29,757
Total intangible assets	$	355,930	$	(272,216	)	$	83,714	$	353,413	$	(266,449	)	$	86,964

The total amortization expense related to other intangible assets for the first quarters of 2022 and 2021 were $7.1 million and $5.6 million, respectively. Based on the March 31, 2022 net carrying value of our intangible assets, the estimated total amortization expense for each of the five succeeding fiscal years ending December 31 are: 2022 - $26.2 million; 2023 - $19.3 million; 2024 - $13.1 million; 2025 - $10.9 million; and 2026 - $7.6 million.

Customer Contract Costs. As of March 31, 2022 and December 31, 2021, the carrying values of our customer contract cost assets, related to those contracts with a contractual term greater than one year, were as follows (in thousands):


	March 31, 2022							December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Gross Carrying Amount		Accumulated Amortization			Net Amount
Customer contract costs	$	82,885	$	(35,860	)	$	47,025	$	79,028	$	(32,410	)	$	46,618

The total amortization expense related to customer contract costs for the first quarters of 2022 and 2021 were $6.5 million and $4.7 million, respectively.