Identifiable Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Identifiable Intangible Assets and Goodwill

Identifiable Intangible Assets and Goodwill

The Company's identifiable intangible assets represent intangible assets acquired in acquisitions and software development costs. The components of identifiable intangible assets are:

(in thousands)	June 30, 2023		December 31, 2022		Estimated Useful Life	Weighted-Average Amortization Period
Acquired developed technology	$	119,800	$	119,800	3 - 7 years	4.84 years
Internally developed software costs	34,595		32,274		3 years	1.89 years
Customer relationships	12,360		12,360		7 years	4.37 years
Trade names	1,410		1,410		2 - 5 years	1.5 years
Non-competition agreements	30		30		1 year	1 year
	168,195		165,874
Impact of currency translation on intangible assets	645		304
Less: accumulated amortization	(75,823)		(63,386)
	93,017		102,792
Internally developed software costs not meeting general release threshold	2,418		2,105
Trademarks, trade names (non-amortizable)	6,200		6,200		Indefinite
	$	101,635	$	111,097

Software costs placed into service during the three months ended June 30, 2023 and 2022, were $1.5 million and $1.4 million, respectively. Software costs placed into service during the six months ended June 30, 2023 and 2022, were $2.3 million and $2.9 million, respectively.

The following table summarizes amortization expense for acquired developed technology and internally developed software:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Amortization of acquired developed technology	$	4,092	$	3,650	$	8,171	$	7,300
Amortization of internally developed software	1,602		1,670		3,337		3,304
Impact of currency translation on intangible assets	(212)		—		(341)		—

The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software development costs not meeting the general release threshold, is as follows:

(in thousands)
2023, remaining	$	12,154
2024	21,890
2025	20,147
2026	17,888
2027	14,778
Thereafter	6,160
Total	$	93,017

Goodwill carried by the Restaurant/Retail and Government segments is as follows:

(in thousands)
Beginning balance - December 31, 2022	$	486,762
Foreign currency translation	885
Ending balance - June 30, 2023	$	487,647