Goodwill as of September 30, 2022 and December 31, 2021 was $161,261 and $52,541, respectively. The increase relates to goodwill acquired from the acquisition of Even Financial. See Note 17, “Mergers and Acquisitions,” for more information regarding goodwill and other intangible assets acquired from Even Financial.

Intangible assets consisted of the following:


		September 30,			December 31,
	Useful Life	2022			2021
Proprietary technology and capitalized internal-use software	3 - 7 years	$	39,238		$	11,623
Work in process			2,152			1,481
Customer relationships	10 - 15 years		159,820			5,960
Trade names	10 - 15 years		24,980			11,820
Less: accumulated amortization			(20,520	)		(5,760	)
Intangible assets, net		$	205,670		$	25,124

The Company capitalizes certain internal-use software development costs, consisting primarily of contractor costs and employee salaries and benefits allocated to the software. Capitalization of costs incurred in connection with internally developed software commences when both the preliminary project stage is completed and management has authorized further funding for the project, based on a determination that it is probable the project will be completed and used to perform the function intended. Costs incurred for enhancements that are expected to result in additional functionalities are capitalized in a similar manner. Capitalization of costs ceases no later than the point at which the project is substantially complete and ready for its intended use, at which point amortization of capitalized costs begins. All other costs are expensed as incurred. Costs capitalized in connection with internally developed software were $2,281 and $5,069 for the three and nine months ended September 30, 2022 and were not significant during the three and nine months ended September 30, 2021.

For the three months ended September 30, 2022 and 2021, total amortization expense was $5,838 and $410, respectively. For the nine months ended September 30, 2022 and 2021, total amortization expense was $14,778 and $1,304, respectively.

The following table summarizes estimated future amortization expense of intangible assets placed in service at September 30, 2022 for the years ending:


Remainder of 2022	$	5,846
2023		23,109
2024		22,977
2025		22,977
2026		22,977
Thereafter		105,632
	$	203,518