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Identifiable Intangible Assets and Goodwill
3 Months Ended
Mar. 31, 2024
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)March 31, 2024December 31, 2023Estimated
Useful Life
Weighted-Average Amortization Period
Acquired developed technology $138,000 $119,800 
3 - 7 years
4.80 years
Internally developed software costs37,346 36,876 3 years1.83 years
Customer relationships53,510 14,510 
7 - 12 years
10.50 years
Trade names1,410 1,410 
2 - 5 years
0.75 years
Non-competition agreements4,830 30 
1 - 5 years
5 years
 235,096 172,626  
Impact of currency translation on intangible assets581 1,399 
Less: accumulated amortization(94,590)(88,259) 
 141,087 85,766  
Internally developed software costs not meeting general release threshold3,826 2,886 
Trademarks, trade names (non-amortizable)12,800 6,200 Indefinite
 $157,713 $94,852 

Software costs placed into service during the three months ended March 31, 2024 and 2023, were $0.5 million and $0.9 million, respectively.

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

Three Months Ended March 31,
(in thousands)20242023
Amortization of acquired developed technology$4,235 $4,078 
Amortization of internally developed software1,326 1,735 
Amortization of identifiable intangible assets recorded in cost of sales5,561 5,813 
Amortization expense recorded in operating expenses932 464 
Impact of foreign currency translation on intangible assets639 (129)
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)
2024, remaining$21,973 
202528,541 
202625,665 
202721,900 
202812,323 
Thereafter30,685 
Total$141,087 

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

(in thousands)20242023
Beginning balance - January 1$489,654 $486,762 
Stuzo Acquisition132,140 — 
Foreign currency translation(2,162)321 
Ending balance - March 31$619,632 $487,083