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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The changes in goodwill during the period January 1 to December 31, 2021 were as follows:

(In thousands)			Fleet Solutions Segment						Travel and Corporate Solutions Segment						Health and Employee Benefit Solutions Segment						Total
Gross goodwill, January 1, 2021			$	1,392,711					$	751,398					$	608,204					$	2,752,313
Current year acquisition			—						—						168,424						168,424
Measurement period adjustments			—						78,426						—						78,426
Foreign currency translation			(12,139)						(14,792)						—						(26,931)
Gross goodwill, December 31, 2021			$	1,380,572					$	815,032					$	776,628					$	2,972,232
Accumulated impairment, January 1, 2021			$	(54,240)					$	(9,935)					$	—					$	(64,175)
Accumulated impairment, December 31, 2021			$	(54,240)					$	(9,935)					$	—					$	(64,175)
Net goodwill, January 1, 2021			$	1,338,471					$	741,463					$	608,204					$	2,688,138
Net goodwill, December 31, 2021			$	1,326,332					$	805,097					$	776,628					$	2,908,057

The changes in goodwill during the period January 1 to December 31, 2020 were as follows:

(In thousands)			Fleet Solutions Segment						Travel and Corporate Solutions Segment						Health and Employee Benefit Solutions Segment						Total
Gross goodwill, January 1, 2020			$	1,378,107					$	455,007					$	622,109					$	2,455,223
2020 acquisitions			—						291,884						—						291,884
Sale of subsidiary			(3,225)						—						(9,936)						(13,161)
Foreign currency translation			17,829						4,507						(3,969)						18,367
Gross goodwill, December 31, 2020			$	1,392,711					$	751,398					$	608,204					$	2,752,313
Accumulated impairment, January 1, 2020			$	(4,087)					$	(9,935)					$	—					$	(14,022)
Sale of subsidiary			3,225						—						—						3,225
WEX Fleet Europe impairment			(53,378)						—						—						(53,378)
Accumulated impairment, December 31, 2020			$	(54,240)					$	(9,935)					$	—					$	(64,175)
Net goodwill, January 1, 2020			$	1,374,020					$	445,072					$	622,109					$	2,441,201
Net goodwill, December 31, 2020			$	1,338,471					$	741,463					$	608,204					$	2,688,138

Definite-Lived Intangible Assets

Other intangible assets consist of the following:

			December 31, 2021																		December 31, 2020
(in thousands)			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Definite-lived intangible assets
Acquired software and developed technology			$	288,772					$	(192,715)					$	96,057					$	327,134					$	(164,245)					$	162,889
Customer relationships			1,888,735						(733,008)						1,155,727						1,842,709						(608,178)						1,234,531
Contractual rights1			263,417						(8,847)						254,570						—						—						—
Licensing agreements			145,718						(41,378)						104,340						152,805						(35,010)						117,795
Non-compete agreement			2,150						(251)						1,899						—						—						—
Patent			2,401						(2,401)						—						2,549						(2,549)						—
Trade names and brand names			61,704						(31,001)						30,703						61,978						(25,181)						36,797
Total			$	2,652,897					$	(1,009,601)					$	1,643,296					$	2,387,175					$	(835,163)					$	1,552,012

1 Contractual rights represent intangible rights to serve as custodian or sub-custodian to certain HSAs acquired from the HealthcareBank division of Bell Bank. See Note 4, Acquisitions for more information.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents the estimated amortization expense related to the definite-lived intangible assets listed above for each of the next five fiscal years:

(in thousands)
2022			$	170,899
2023			$	174,368
2024			$	165,286
2025			$	154,340
2026			$	145,943

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