Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets on our consolidated balance sheets consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Goodwill	$	301,790	$	301,790
Intangible assets, net	143,293		165,153
Goodwill and intangible assets	$	445,083	$	466,943

Note 9—Goodwill and Intangible Assets (continued)

Goodwill

There were no changes in the composition of goodwill from the previous year. We completed our annual goodwill impairment test as of September 30, 2022. Based on the results of the annual goodwill impairment test, we determined that each of the fair values of our reporting units exceeded their carrying values and therefore, no impairment was recorded.

Intangible Assets

The gross carrying amounts and accumulated amortization related to intangibles assets were as follows:


	December 31, 2022						December 31, 2021
	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Useful Lives
	(In thousands)						(In thousands)						(Years)
Customer relationships	$	309,773	$	(194,858)	$	114,915	$	309,773	$	(174,543)	$	135,230	12.8
Trade names	44,086		(24,126)		19,960		44,086		(21,331)		22,755		14.6
Patents	3,000		(2,182)		818		3,000		(1,909)		1,091		11.0
Software licenses	13,777		(6,291)		7,486		10,389		(4,551)		5,838		3.0
Other	5,964		(5,850)		114		5,964		(5,725)		239		5.0
Total intangible assets	$	376,600	$	(233,307)	$	143,293	$	373,212	$	(208,059)	$	165,153

Amortization expense on finite-lived intangibles, a component of other general and administrative expenses, was $23.5 million, $27.8 million, and $28.1 million for the years ended December 31, 2022, 2021, and 2020, respectively. None of our intangible assets were impaired as of December 31, 2022 or 2021.

The following table shows our estimated amortization expense for intangible assets for each of the next five succeeding years and thereafter:


	December 31,
	(In thousands)
2023	$	25,068
2024	23,756
2025	22,786
2026	21,891
2027	17,731
Thereafter	32,061
Total	$	143,293