Intangible Assets

12 Months Ended

Dec. 31, 2022

Intangible Assets

Intangible Assets

19.   Intangible Assets

			Accumulated
At December 31, 2022	Cost		amortization		Net book value
Trade names and trademarks	$	54,023	$	(2,889)	$	51,134
Customer relationships		245,407		(85,657)		159,750
Software and technology assets		289,078		(182,303)		106,775
Software under development		4,535		—		4,535
Backlog		1,100		(642)		458
	$	594,143	$	(271,491)	$	322,652

			Accumulated
At December 31, 2021	Cost		amortization		Net book value
Trade names and trademarks	$	54,400	$	(2,147)	$	52,253
Customer relationships		245,984		(65,480)		180,504
Software and technology assets		255,636		(144,309)		111,327
Software under development		5,424		—		5,424
Backlog		1,100		(92)		1,008
	$	562,544	$	(212,028)	$	350,516

At December 31, 2022, a net carrying amount of $54.5 million (December 31, 2021: $55.6 million) included in intangible assets was not subject to amortization. During the year ended December 31, 2022, the cost of additions was reduced by $1.1 million for recognition of tax credits (2021: $2.2 million; 2020: $2.6 million).

During the year ended December 31, 2022, interest of $0.4 million (2021: $0.3 million; 2020: $0.3 million) was capitalized to the cost of software under development. These interest costs relating to qualifying assets are capitalized at a weighted average rate of 4.82% (2021: 2.48%; 2020: 3.04%).

During the year ended December 31, 2022, the weighted average amortization period for all classes of intangible assets was 8.6 years (2021: 9.0; 2020: 9.1).

At December 31, 2022, estimated annual amortization expense for the next five years ended December 31 are as follows:

2023	$	55,829
2024		41,016
2025		24,661
2026		20,672
2027		18,590
	$	160,768