Schedule of Goodwill |
The goodwill additions and balances since the Merger, by reportable segments, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Owned and Operated | | Partner Network | | Subscription | | Total | Goodwill additions and balances at September 30, 2022 (Successor) | $ | 479,606 | | | $ | 28,553 | | | $ | 396,081 | | | $ | 904,240 | | Goodwill by reportable segments as of December 31, 2021 was as follows: | | | | | | | | | | | | | | | | | | | Owned and Operated | | Partner Network | | Total | Goodwill at December 31, 2021 (Predecessor) | $ | 24,403 | | | $ | 20,417 | | | $ | 44,820 | |
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Schedule of Finite-Lived Intangible Assets |
The estimated useful lives of the Company’s intangible assets are as follows:
| | | | | | | | | | | | | Useful Life | | (Years) | Developed technology | 4 | Customer relationships | 3 | - | 5 | Trademarks and trade names | 10 | Other intangibles | 4 |
Internal-use software development costs and intangible assets consisted of the following:
| | | | | | | | | | | | | | | | | | | September 30, 2022 (Successor) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Total internal-use software development costs | $ | 15,591 | | | $ | (2,992) | | | $ | 12,599 | | Intangibles: | | | | | | Developed technology | $ | 198,127 | | | $ | (33,399) | | | $ | 164,728 | | Trademarks and trade names | 272,953 | | | (18,112) | | | 254,841 | | Software | 3,900 | | | (562) | | | 3,338 | | Customer relationships | 116,600 | | | (33,489) | | | 83,111 | | Total intangible costs | $ | 591,580 | | | $ | (85,562) | | | $ | 506,018 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2021 (Predecessor) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Total internal-use software development costs | $ | 21,274 | | | $ | (10,061) | | | $ | 11,213 | | Intangibles: | | | | | | Developed technology | $ | 8,398 | | | $ | (7,242) | | | $ | 1,156 | | Trademarks and trade names | 69,007 | | | (21,375) | | | 47,632 | | Professional service agreement | 3,100 | | | (2,359) | | | 741 | | Customer relationships | 1,500 | | | (661) | | | 839 | | Total intangible costs | $ | 82,005 | | | $ | (31,637) | | | $ | 50,368 | |
Amortization expense for internal-use software development costs and intangible assets were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Successor | | | Predecessor | | Successor | | | Predecessor | | Three Months Ended September 30, 2022 | | | Three Months Ended September 30, 2021 | | Period from January 27, 2022 through September 30, 2022 | | | Period from January 1, 2022 through January 26, 2022 | | Nine Months Ended September 30, 2021 | Amortization expense for internal-use software development | $ | 1,145 | | | $ | 1,300 | | $ | 4,045 | | | $ | 355 | | $ | 3,545 | Amortization expense for intangible assets | $ | 32,023 | | | $ | 2,086 | | $ | 85,563 | | | $ | 629 | | $ | 6,472 |
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Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
As of September 30, 2022 (Successor), the expected amortization expense associated with the Company’s intangible assets and internal-use software development costs was as follows:
| | | | | | Amortization Expense | | Remainder of 2022 | $ | 33,698 | 2023 | 109,983 | 2024 | 103,467 | 2025 | 91,807 | 2026 | 40,405 | Thereafter | 139,257 | Total amortization expense | $ | 518,617 |
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