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Goodwill and Identifiable Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Identifiable Intangible Assets Goodwill and Identifiable Intangible Assets
The Company’s goodwill is tested for impairment at the reporting unit level annually and in interim periods if certain events occur that indicate that the fair value of a reporting unit may be below its carrying value. Determining the number of reporting units and the fair value of a reporting unit requires the Company to make judgments and involves the use of significant estimates and assumptions.
The annual goodwill testing date for the reporting units that are included in the portfolio purchasing and recovery reportable segment is October 1st. There have been no events or circumstances during the three and six months ended June 30, 2023, that have required the Company to perform an interim assessment of goodwill carried at these reporting units. Management continues to evaluate and monitor all key factors impacting the carrying value of the Company’s recorded goodwill and intangible assets. Adverse changes in the Company’s actual or expected operating results, market capitalization, business climate, economic factors or other negative events that may be outside the control of management could result in a material non-cash impairment charge in the future.
The Company’s goodwill is attributable to reporting units included in its portfolio purchasing and recovery segment. The following table summarizes the activity in the Company’s goodwill balance (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Balance as of beginning of period:$834,174 $876,541 $821,214 $897,795 
Effect of foreign currency translation18,022 (52,331)30,982 (73,585)
Balance as of end of period:$852,196 $824,210 $852,196 $824,210 
The Company’s acquired intangible assets are summarized as follows (in thousands):
 As of June 30, 2023As of December 31, 2022
 Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships$47,680 $(27,018)$20,662 $45,498 $(23,507)$21,991 
Trade name and other917 (833)84 909 (788)121 
Total intangible assets$48,597 $(27,851)$20,746 $46,407 $(24,295)$22,112