| Intangible Assets, Net |
Note 5. Intangible Assets, Net
Intangible assets, net consisted of the following (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2023 |
|
|
Gross Carrying |
|
|
Accumulated |
|
Net Carrying |
|
|
Amount |
|
Amortization |
|
Value |
Trade names |
|
$ |
7,956 |
|
$ |
(1,461) |
|
$ |
6,495 |
Software development |
|
|
12,927 |
|
|
(3,616) |
|
|
9,311 |
Customer relationships |
|
|
8,180 |
|
|
(2,364) |
|
|
5,816 |
Agent relationships |
|
|
5,856 |
|
|
(1,133) |
|
|
4,724 |
Know-how |
|
|
430 |
|
|
(168) |
|
|
262 |
|
|
$ |
35,349 |
|
$ |
(8,742) |
|
$ |
26,608 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
Gross Carrying |
|
Accumulated |
|
Net Carrying |
|
|
Amount |
|
Amortization |
|
Value |
Trade names |
|
$ |
7,956 |
|
$ |
(1,262) |
|
$ |
6,694 |
Software development |
|
|
12,348 |
|
|
(3,029) |
|
|
9,319 |
Customer relationships |
|
|
8,180 |
|
|
(2,085) |
|
|
6,095 |
Agent relationships |
|
|
5,856 |
|
|
(988) |
|
|
4,868 |
Know-how |
|
|
430 |
|
|
(147) |
|
|
283 |
|
|
$ |
34,770 |
|
$ |
(7,511) |
|
$ |
27,259 |
Estimated future amortization of intangible assets as of March 31, 2023 was as follows (amounts in thousands):
|
|
|
|
Years Ending December 31, |
|
|
|
2023 (Remaining) |
|
$ |
4,003 |
2024 |
|
|
5,175 |
2025 |
|
|
4,937 |
2026 |
|
|
4,301 |
2027 |
|
|
3,301 |
2028 |
|
|
2,197 |
Thereafter |
|
|
2,694 |
Total |
|
$ |
26,608 |
The aggregate amortization expense for intangible assets was $1.2 million and $1.0 million, of which $0.7 million and $0.5 million was included in technology and development expense for the three months ended March 31, 2023 and 2022, respectively.
|