Location Contracts Acquired

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Location Contracts Acquired

Location Contracts Acquired

Location contract assets acquired in business acquisitions are recorded at acquisition at fair value based on an income approach. Location contracts acquired consisted of the following as of June 30, 2023 and December 31, 2022 (in thousands):

	June 30, 2023		December 31, 2022
Cost	$	283,796	$	282,653
Accumulated amortization	(101,836)		(93,310)
Location contracts acquired, net	$	181,960	$	189,343

Amortization expense of location contracts acquired was $4.2 million and $8.5 million for the three and six months ended June 30, 2023, respectively. In comparison, amortization expense of location contracts acquired was $3.3 million and $6.6 million for the three and six months ended June 30, 2022, respectively.