Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 9. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill are as follows:


(in thousands)	Pursuit
Balance at December 31, 2021	$	112,078
Business acquisition		16,787
Foreign currency translation adjustments		(1,988	)
Balance at June 30, 2022	$	126,877

Goodwill is tested for impairment at the reporting unit level on an annual basis as of October 31, and between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value. We use a discounted expected future cash flow methodology (income approach) to estimate the fair value of our reporting units for purposes of goodwill impairment testing.

Other intangible assets consisted of the following:


		June 30, 2022							December 31, 2021
(in thousands)	Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization:
Customer contracts and relationships	7.2	$	37,485	$	(28,764	)	$	8,721	$	36,848	$	(28,372	)	$	8,476
Operating contracts and licenses	34.6		41,444		(3,113	)		38,331		40,927		(2,660	)		38,267
In-place lease	34.3		15,183		(1,280	)		13,903		15,464		(1,084	)		14,380
Tradenames	4.3		5,823		(3,128	)		2,695		5,626		(2,819	)		2,807
Other	5.7		810		(154	)		656		824		(139	)		685
Total amortized intangible assets			100,745		(36,439	)		64,306		99,689		(35,074	)		64,615
Indefinite-lived intangible assets:
Business licenses			572		—			572		574		—			574
Other intangible assets, net		$	101,317	$	(36,439	)	$	64,878	$	100,263	$	(35,074	)	$	65,189

Intangible asset amortization expense (excluding amortization expense of ROU assets) was $1.4 million for the three months ended June 30, 2022 and $2.6 million for the six months ended June 30, 2022. Intangible assets amortization expense was $1.6 million for the three months ended June 30, 2021 and $2.8 million for the six months ended June 30, 2021.

At June 30, 2022, the estimated future amortization expense related to intangible assets subject to amortization is as follows:


(in thousands)
Year ending December 31,
Remainder of 2022	$	2,686
2023		4,710
2024		3,746
2025		2,439
2026		2,404
Thereafter		48,321
Total	$	64,306