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Intangible Assets and Goodwill
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

7. Intangible Assets and Goodwill

Intangible Assets

The following table presents information about capitalized software development costs:

 

 

Three Months Ended March 31,

 

 

Capitalized software development costs

 

2024

 

 

2023

 

 

Capitalized

 

$

4,039

 

 

$

3,855

 

 

Amortized

 

 

4,418

 

 

 

3,616

 

 

 

 

 

As of March 31, 2024

 

 

 

Weighted Average

 

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

 

 

 

 

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:

 

 

Three Months Ended March 31,

 

 

 

 

2024

 

 

2023

 

 

Total amortization expense associated with identifiable intangible assets

 

$

7,830

 

 

$

7,239

 

 

Impairment and write-off of intangible assets

Impairment and write-off expense related to internally developed software projects was as follows:

 

 

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.