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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Changes in the carrying value of goodwill by segment were as follows (in thousands):
December 31, 2023 | U.S. Pawn Segment |  | Latin America Pawn Segment |  | Retail POS Payment Solutions Segment |  | Total
Balance, beginning of year | $ | 916,048 |  |  | $ | 179,128 |  |  | $ | 486,205 |  |  | $ | 1,581,381 |
Acquisitions (see Note 3) | 127,239 |  |  | — |  |  | — |  |  | 127,239 |
Effect of foreign currency translation | — |  |  | 19,452 |  |  | — |  |  | 19,452 |
Other adjustments | (420) |  |  | — |  |  | — |  |  | (420) |
Balance, end of year | $ | 1,042,867 |  |  | $ | 198,580 |  |  | $ | 486,205 |  |  | $ | 1,727,652 |
December 31, 2022 |  |  |  |  |  |  |
Balance, beginning of year | $ | 861,793 |  |  | $ | 171,279 |  |  | $ | 503,106 |  |  | $ | 1,536,178 |
Acquisitions (see Note 3) | 55,455 |  |  | — |  |  | — |  |  | 55,455 |
Effect of foreign currency translation | — |  |  | 7,849 |  |  | — |  |  | 7,849 |
Other adjustments | (1,200) |  |  | — |  |  | (16,901) |  |  | (18,101) |
Balance, end of year | $ | 916,048 |  |  | $ | 179,128 |  |  | $ | 486,205 |  |  | $ | 1,581,381 |
The Company performed its annual assessment of goodwill and determined there was no impairment as of December 31, 2023 and 2022. Definite-Lived Intangible Assets The following table summarizes the components of gross and net definite-lived intangible assets subject to amortization (in thousands):
|  | As of December 31,
|  | 2023 |  | 2022
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Merchant relationships |  | $ | 194,000 |  |  | $ | (63,070) |  |  | $ | 130,930 |  |  | $ | 194,000 |  |  | $ | (31,530) |  |  | $ | 162,470 |
Developed technology |  | 99,400 |  |  | (40,588) |  |  | 58,812 |  |  | 99,400 |  |  | (20,708) |  |  | 78,692 |
Customer relationships |  | 28,250 |  |  | (26,591) |  |  | 1,659 |  |  | 26,294 |  |  | (25,716) |  |  | 578 |
AFF trade name |  | 10,200 |  |  | (10,200) |  |  | — |  |  | 10,200 |  |  | (5,314) |  |  | 4,886 |
Lessee relationships |  | 1,500 |  |  | (1,500) |  |  | — |  |  | 1,500 |  |  | (1,201) |  |  | 299 |
|  | $ | 333,350 |  |  | $ | (141,949) |  |  | $ | 191,401 |  |  | $ | 331,394 |  |  | $ | (84,469) |  |  | $ | 246,925 |
Merchant relationships and customer relationships are generally amortized using an accelerated amortization method that reflects the future cash flows expected from the existing AFF merchants and returning pawn customers. The following table details the remaining weighted-average amortization periods for the definite-lived intangible assets included in the table above:
| Weighted-Average Remaining Amortization Period (Years)
As of December 31, 2023 |
Merchant relationships | 2.4
Developed technology | 1.5
Customer relationships | 2.2
Total definite-lived intangible assets | 2.1
Amortization expense for definite-lived intangible assets was $57.0 million, $57.1 million and $3.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated future amortization expense is as follows (in thousands):
2024 | $ | 50,146 |
2025 | 48,488 |
2026 | 45,551 |
2027 | 24,544 |
2028 | 22,672 |
| $ | 191,401 |
Indefinite-Lived Intangible Assets Indefinite-lived intangible assets as of December 31, 2023 and 2022 consist of the following (in thousands):
|  | As of December 31,
|  | 2023 |  | 2022
Trade names |  | $ | 46,300 |  |  | $ | 46,300 |
Pawn licenses (1) |  | 40,023 |  |  | 37,113 |
|  | $ | 86,323 |  |  | $ | 83,413 |
(1)Costs to renew licenses with indefinite lives are expensed as incurred and recorded in operating expenses in the consolidated statements of income. The Company performed its annual assessment of indefinite-lived intangible assets and determined there was no impairment as of December 31, 2023 and 2022.

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