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GOODWILL AND OTHER INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. The balance of goodwill was approximately $707.2 million and $682.7 million at September 30, 2022 and December 31, 2021, respectively. We have the following reporting units: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; and (vi) Loyalty Sales and Services.
In accordance with ASC 350 (“Intangibles—Goodwill and Other”), we test goodwill at the reporting unit level, which is identified as an operating segment or one level below, for impairment on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying amount.
We test our goodwill for impairment on October 1 each year, or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The annual impairment test is completed using either: a qualitative “Step 0” assessment based on reviewing relevant events and circumstances or a quantitative “Step 1” assessment, which determines the fair value of the reporting unit, using both an income approach that discounts future cash flows based on the estimated future results of our reporting units and a market approach that compares market multiples of comparable companies to determine whether or not any impairment exists. To the extent the carrying amount of a reporting unit is less than its estimated fair value, an impairment charge is recorded.
There was no impairment identified for our goodwill for the three and nine months ended September 30, 2022 and 2021.
Other Intangible Assets
Other intangible assets consist of the following (dollars in thousands):
  At September 30, 2022At December 31, 2021
Useful Life
(Years)
CostAccumulated
Amortization
Net Book
Value
CostAccumulated
Amortization
Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,946 $10,042 $47,904 $58,837 $4,237 $54,600 
Customer relationships
3-14
324,598 226,164 98,434 303,238 206,273 96,965 
Developed technology and software
1-6
383,716 301,164 82,552 342,309 280,412 61,897 
Patents, trade names and other
2-18
22,050 20,012 2,038 20,547 19,415 1,132 
Total$788,310 $557,382 $230,928 $724,931 $510,337 $214,594 
Amortization expense related to other intangible assets was approximately $15.3 million and $43.6 million for the three and nine months ended September 30, 2022, respectively, and $14.6 million and $43.7 million for the three and nine months ended September 30, 2021, respectively.
We evaluate our other intangible assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. During the three and nine months ended September 30, 2022 and 2021, there were no material write-downs of intangible assets.