Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2022

Intangible Assets and Goodwill

Intangible Assets and Goodwill

6. Intangible Assets and Goodwill

Intangible Assets

Intangible assets are stated at cost or acquisition-date fair value less accumulated amortization, and consist of the following, as of March 31, 2022:

	Weighted
	Average	Intangible				Intangible
	Useful Life	Assets,		Accumulated		Assets,
	(in years)	gross		Amortization		Net
Customer relationships	9.0	$	56,810	$	(8,658)	$	48,152
Acquired technology	5.0		48,135		(12,619)		35,516
Trademarks and tradenames	12.0		25,389		(3,194)		22,195
Non-compete agreements	2.0		450		(320)		130
Value of business acquired	1.0		400		(394)		6
Renewal rights	6.0		9,734		(1,137)		8,597
Trademarks and tradenames	Indefinite		4,750		—		4,750
Insurance licenses	Indefinite		4,960		—		4,960
Total intangible assets		$	150,628	$	(26,322)	$	124,306

The aggregate amortization expense related to intangibles was $5.5 million and $1.3 million for the three months ended March 31, 2022 and 2021, respectively.

Goodwill

The following tables summarize the changes in the carrying amount of goodwill for the three months ended March 31, 2022:

	Goodwill
Balance as of December 31, 2021		225,654
Purchase price adjustments		922
Balance as of March 31, 2022	$	226,576