Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 8 – Goodwill and Other Intangible Assets

Goodwill

Changes in the net carrying amount of goodwill were as follows:


	Total
Goodwill as of December 31, 2022	$	152,361
Changes from acquisition purchase accounting		2,914
Foreign exchange impact		656
Goodwill as of June 30, 2023	$	155,931

Other Intangible Assets

Other intangible assets, net consist of the following components:


	As of
	June 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Amount
Customer lists/relationships	$	143,844	$	(59,005	)	$	84,839
Technology and other intangibles		53,972		(30,094	)		23,878
Other intangible assets, net	$	197,816	$	(89,099	)	$	108,717


	As of
	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Amount
Customer lists/relationships	$	148,899	$	(59,603	)	$	89,296
Technology and other intangibles		45,255		(26,498	)		18,757
Other intangible assets, net	$	194,154	$	(86,101	)	$	108,053

Amortization expense for the three months ended June 30, 2023 and June 30, 2022 was $2,857 and $2,536, respectively. Amortization expense for the six months ended June 30, 2023 and June 30, 2022 was $5,368 and $4,918, respectively.

The changes in the gross carrying amounts of intangible assets are primarily due to business acquisition and purchase accounting activity in the quarter as discussed in Note 3 “Business Acquisitions.”

Remaining amortization expense for other intangible assets as of June 30, 2023 is as follows:


	Amortization expense
2023	$	5,648
2024		11,146
2025		10,658
2026		10,501
2027		10,443
Thereafter		60,321
Total amortization expense	$	108,717