Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

8 Goodwill and Other Intangibles

The carrying amount of goodwill was $438 million and $444 million at December 31, 2021 and 2020, respectively. The effect of foreign currency translation decreased goodwill by $6 million.

The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands):


	December 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	575,658	$	420,862		5 years	$	584,452	$	409,847		5 years
Purchased intangibles		201,302		163,752		11 years		205,585		160,342		11 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		12,635		6,199		7 years		5,923		5,697		6 years
Patents and other intangibles		102,353		68,414		8 years		90,699		61,808		8 years

Total	$	901,628	$	659,227		7 years	$	896,339	$	637,694		7 years

The Company capitalized $55 million and $68 million of intangible assets for the years ended December 31, 2021 and 2020, respectively. The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $49 million and $38 million, respectively, in the year ended December 31, 2021 due to the effects of foreign currency translation. Amortization expense for intangible assets was $60 million, $57 million and $51 million for the years ended December 31, 2021, 2020 and 2019, respectively. Amortization expense for intangible assets is estimated to be $62 million per year for each of the next five years.

During 2020, the Company recorded a

non-cash

charge of $10 million for the impairment of certain intangible assets associated with its 2014 acquisition of Medimass due to a shift in strategic priorities. As a result, the Company reduced the gross carrying amount and accumulated amortization balances of its intangible assets by $15 million and $5 million, respectively.