Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amounts of goodwill for our funeral and cemetery reporting units are as follows:


	Years Ended December 31,
	2022						2021
	Funeral		Cemetery		Total		Funeral		Cemetery		Total
	(In thousands)
Beginning balance — Goodwill	$	1,584,175	$	330,907	$	1,915,082	$	1,551,062	$	328,945	$	1,880,007
Increase in goodwill related to acquisitions	26,143		11,081		37,224		34,703		1,990		36,693
Reduction of goodwill related to divestitures (1)	—		—		—		(2,080)		(28)		(2,108)

Effect of foreign currency	(6,718)		—		(6,718)		490		—		490
Total activity	19,425		11,081		30,506		33,113		1,962		35,075
Ending balance — Goodwill	$	1,603,600	$	341,988	$	1,945,588	$	1,584,175	$	330,907	$	1,915,082

(1) Also includes reductions for businesses held for sale.

The components of intangible assets at December 31 were as follows:


	Useful Life
	Minimum		Maximum	2022		2021
	(Years)			(In thousands)
Amortizing intangibles:
Covenants-not-to-compete	9	-	20	$	222,461	$	223,854
Customer relationships	10	-	20	155,767		153,927
Tradenames	5	-	89	7,000		7,000
Other	5	-	89	26,927		26,927
				412,155		411,708
Less accumulated amortization:
Covenants-not-to-compete				205,450		203,935
Customer relationships				101,954		96,294
Tradenames				359		280
Other				10,285		9,546
				318,048		310,055

Amortizing intangibles, net				94,107		101,653

Non-amortizing intangibles:
Tradenames			Indefinite	376,138		359,297
Other			Indefinite	10,765		10,765
Non-amortizing intangibles				386,903		370,062

Intangible assets, net — included in Deferred charges and other assets, net				$	481,010	$	471,715

Amortization expense for intangible assets was $18.4 million, $20.0 million, and $22.4 million for the years ended December 31, 2022, 2021, and 2020, respectively. The following is estimated amortization expense, excluding certain intangibles for which we are unable to provide an estimate because they are amortized based on specific identification in the fulfillment of performance obligations on our preneed contracts, for the five years subsequent to December 31, 2022 (in thousands):


2023	$	6,508
2024	6,240
2025	6,170
2026	4,170
2027	2,695
Total estimated amortization expense	$	25,783