Intangible Assets and Goodwill |
7. Intangible Assets and Goodwill Intangible Assets The following table presents information about capitalized software development costs:
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Three Months Ended March 31, |
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Capitalized software development costs |
|
2024 |
|
|
2023 |
|
|
Capitalized |
|
$ |
4,039 |
|
|
$ |
3,855 |
|
|
Amortized |
|
|
4,418 |
|
|
|
3,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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As of March 31, 2024 |
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|
|
Weighted Average |
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Gross |
|
|
Accumulated |
|
|
|
|
|
|
Useful Life |
|
Amount |
|
|
Amortization |
|
|
Net Amount |
|
Internally developed software |
|
3 Years |
|
$ |
105,348 |
|
|
$ |
(79,073 |
) |
|
$ |
26,275 |
|
Non-compete |
|
4 Years |
|
|
6,194 |
|
|
|
(3,942 |
) |
|
|
2,252 |
|
Customer relationships |
|
9 Years |
|
|
72,512 |
|
|
|
(39,672 |
) |
|
|
32,840 |
|
Technology |
|
7 Years |
|
|
45,791 |
|
|
|
(31,145 |
) |
|
|
14,646 |
|
Trade name |
|
10 Years |
|
|
7,748 |
|
|
|
(2,909 |
) |
|
|
4,839 |
|
Total intangible assets |
|
|
|
$ |
237,593 |
|
|
$ |
(156,741 |
) |
|
$ |
80,852 |
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|
|
|
|
|
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|
|
|
|
|
|
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|
|
|
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As of December 31, 2023 |
|
|
|
Weighted Average |
|
Gross |
|
|
Accumulated |
|
|
|
|
|
|
Useful Life |
|
Amount |
|
|
Amortization |
|
|
Net Amount |
|
Internally developed software |
|
3 Years |
|
$ |
101,471 |
|
|
$ |
(74,655 |
) |
|
$ |
26,816 |
|
Non-compete |
|
4 Years |
|
|
6,194 |
|
|
|
(3,738 |
) |
|
|
2,456 |
|
Customer relationships |
|
9 Years |
|
|
72,512 |
|
|
|
(37,601 |
) |
|
|
34,911 |
|
Technology |
|
7 Years |
|
|
45,791 |
|
|
|
(30,178 |
) |
|
|
15,613 |
|
Trade name |
|
10 Years |
|
|
7,748 |
|
|
|
(2,739 |
) |
|
|
5,009 |
|
Total intangible assets |
|
|
|
$ |
233,716 |
|
|
$ |
(148,911 |
) |
|
$ |
84,805 |
|
Total amortization expense associated with identifiable intangible assets was as follows:
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Three Months Ended March 31, |
|
|
|
|
2024 |
|
|
2023 |
|
|
Total amortization expense associated with identifiable intangible assets |
|
$ |
7,830 |
|
|
$ |
7,239 |
|
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Impairment and write-off of intangible assets Impairment and write-off expense related to internally developed software projects was as follows:
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Three Months Ended March 31, |
|
|
|
|
2024 |
|
|
2023 |
|
|
Impairment and write-off of intangible assets |
|
$ |
162 |
|
|
$ |
- |
|
|
Goodwill There were no changes in goodwill during the three months ended March 31, 2024.
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