Goodwill and other intangibles

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangibles. The summary of changes in goodwill is as follows:


	Title	Real Estate Solutions	Corporate and Other	Total
	(in $ thousands)
Balances at January 1, 2021	361,433	70,044	—	431,477

Acquisitions	226,134	258,069	15,350	499,553
Purchase accounting adjustments	(3,600)	(2,570)	—	(6,170)

Disposals	(23)	—	—	(23)
Balances at December 31, 2021	583,944	325,543	15,350	924,837

Acquisitions	134,225	—	—	134,225
Purchase accounting adjustments	2,701	26,961	(14,450)	15,212

Disposals	(392)	—	(900)	(1,292)
Balances at December 31, 2022	720,478	352,504	—	1,072,982

An aggregate of $128.9 million and $172.6 million of the goodwill recognized in 2022 and 2021, respectively, related to acquisitions is tax-deductible over a period of 15 years from the corresponding acquisition date. In connection with its acquisitions, the Company recorded during 2022 and 2021 other intangible assets of $12.6 million and $211.6 million, respectively, while it wrote off $10.5 million of other intangible assets related to the disposal of a business in 2022. The other intangible assets recognized from these acquisitions were primarily related to customer relationships, internally-developed technology and trade names.

The summary of other intangibles by major class (refer to Note 1-M) is as follows:


	Customer Relationships	Technology	Others	Total
	(in $ thousands)
Balances at December 31, 2022:
Gross	136,027	78,627	48,957	263,611
Accumulated amortization	(17,879)	(23,744)	(22,904)	(64,527)
Net	118,148	54,883	26,053	199,084

Balances at December 31, 2021:
Gross	125,727	92,962	42,837	261,526
Accumulated amortization	(6,564)	(9,155)	(16,003)	(31,722)
Net	119,163	83,807	26,834	229,804

Total amortization expense recorded for other intangible assets was $33.0 million and $19.2 million in 2022 and 2021, respectively. The annual amortization expense expected to be recognized in the next five years relating to other intangible assets is approximately $32.7 million in 2023, $30.1 million in 2024, $28.0 million in 2025, $20.3 million in 2026 and $11.4 million in 2027.