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Software Development Costs
 12 Months Ended
Dec. 31, 2022
Research and Development [Abstract]  
Software Development Costs Software Development Costs
The components of software development costs, net of accumulated amortization are as follows:
December 31,
20222021
(in thousands)
Software development costs$308,482 $270,672 
Accumulated amortization(166,649)(114,469)
Software development costs, net of accumulated amortization$141,833 $156,203 
Capitalized software development costs and amortization expense are as follows:
Year Ended
December 31,
202220212020
(in thousands)
Software development costs capitalized (1)
$37,810 $34,470 $31,046 
Amortization expense related to capitalized software development costs$52,180 $47,116 $36,102 
(1)Software development costs capitalized does not include acquired software development costs. See Note 4 – Acquisitions.
Non-capitalized software costs and routine maintenance costs are expensed as incurred and are included in employee compensation and benefits and professional fees on the consolidated statements of income.
The estimated annual future amortization for software development costs through December 31, 2027 is as follows:
Amount
(in thousands)
2023$47,730 
2024$36,648 
2025$24,691 
2026$18,722 
2027$14,042