Intangible Assets, Net |
Note 8. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted | | | | | | | | | | | | | | | Average | | | | | | | | | | | | | Remaining | | | | Useful | | | | | Accumulated | | Net Carrying | | Useful Life | | | | Life | | Gross Value | | Amortization | | Value | | (Years) | | December 31, 2021 | | | | | | | | | | | | | | | Client relationships | | 2 to 20 years | | $ | 1,465,926 | | $ | (199,866) | | $ | 1,266,060 | | 14.5 | | Non-compete agreements | | 1.5 to 5 years | | | 4,975 | | | (4,975) | | | 0 | | | | Trademarks | | 3 to 15 years | | | 326,392 | | | (45,555) | | | 280,837 | | 9.5 | | Patents | | 3 years | | | 200 | | | (200) | | | 0 | | | | Software | | 3 to 5 years | | | 126,188 | | | (40,767) | | | 85,421 | | 2.7 | | Technology | | 5 to 7 years | | | 343,262 | | | (65,302) | | | 277,960 | | 5.6 | | Intangible assets, net | | | | $ | 2,266,943 | | $ | (356,665) | | $ | 1,910,278 | | 12.0 | | December 31, 2020 | | | | | | | | | | | | | | | Client relationships | | 2 to 20 years | | $ | 1,460,648 | | $ | (100,844) | | $ | 1,359,804 | ` | 15.4 | | Non-compete agreements | | 1.5 to 5 years | | | 5,097 | | | (4,872) | | | 225 | | 0.4 | | Trademarks | | 3 to 15 years | | | 326,786 | | | (15,576) | | | 311,210 | | 10.5 | | Patents | | 3 years | | | 200 | | | (200) | | | 0 | | | | Software | | 3 to 5 years | | | 52,518 | | | (24,771) | | | 27,747 | | 2.8 | | Technology | | 5 to 7 years | | | 338,150 | | | (16,272) | | | 321,878 | | 6.6 | | Intangible assets, net | | | | $ | 2,183,399 | | $ | (162,535) | | $ | 2,020,864 | | 13.1 | |
Refer to Note 9 to the consolidated financial statements for the results of impairment testing of our intangible assets including goodwill. Amortization expense for intangible assets net of foreign currency remeasurement for intangible assets was $195.3 million, $64.7 million, and $35.6 million for the years ended December 31, 2021, 2020, and 2019, respectively. Periodic amortization that will be charged to expense over the remaining life of the intangible assets as of December 31, 2021 was as follows (in thousands): | | | | | Years Ending December 31, | | | | | 2022 | | $ | 206,602 | | 2023 | | | 210,494 | | 2024 | | | 205,595 | | 2025 | | | 181,729 | | 2026 and thereafter | | | 1,105,858 | | | | $ | 1,910,278 | |
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