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GOODWILL AND INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The changes in goodwill for the years ended December 31, 2022 and 2021 were:
| Goodwill
| (in thousands)
Balance at December 31, 2020 | $ | 1,719 |
Foreign currency translation (1) | (119) |
Balance at December 31, 2021 | 1,600 |
HEYDUDE Acquisition | 713,308 |
Foreign currency translation (1) | (94) |
Balance at December 31, 2022 | $ | 714,814 |
(1) Foreign currency translation only relates to the goodwill in our EMEALA operating segment, as described below.
Schedule of Intangible Assets, net | ‘Intangible assets, net’ reported in the consolidated balance sheets consist of the following:
| December 31, 2022 |  | December 31, 2021
| Gross |  | Accum. Amortiz. |  | Net |  | Gross |  | Accum. Amortiz. |  | Net
| (in thousands)
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |
Capitalized software | $ | 132,295 |  |  | $ | (109,227) |  |  | $ | 23,068 |  |  | $ | 128,843 |  |  | $ | (104,637) |  |  | $ | 24,206 |
Customer relationships | 210,000 |  |  | (12,250) |  |  | 197,750 |  |  | — |  |  | — |  |  | — |
Patents, copyrights, and trademarks | 5,124 |  |  | (3,537) |  |  | 1,587 |  |  | 4,308 |  |  | (3,530) |  |  | 778 |
Intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |  |  |
HEYDUDE trademark | 1,570,000 |  |  | — |  |  | 1,570,000 |  |  | — |  |  | — |  |  | — |
In progress | 7,537 |  |  | — |  |  | 7,537 |  |  | 3,739 |  |  | — |  |  | 3,739 |
Other | 225 |  |  | — |  |  | 225 |  |  | 79 |  |  | — |  |  | 79 |
Total | $ | 1,925,181 |  |  | $ | (125,014) |  |  | $ | 1,800,167 |  |  | $ | 136,969 |  |  | $ | (108,167) |  |  | $ | 28,802 |
Schedule of Intangible Asset Amortization Expense | Amortization expense related to definite-lived intangible assets, reported in ‘Cost of sales’ and ‘Selling, general and administrative expenses’ was:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (in thousands)
Cost of sales | $ | 2,366 |  |  | $ | 4,779 |  |  | $ | 3,975 |
Selling, general and administrative expenses | 17,221 |  |  | 12,255 |  |  | 11,809 |
Total amortization expense | $ | 19,587 |  |  | $ | 17,034 |  |  | $ | 15,784 |
Schedule of Future Amortization of Intangible Assets | Estimated future annual amortization expense of intangible assets is:
| As of December 31, 2022
| (in thousands)
2023 | $ | 21,826 |
2024 | 20,290 |
2025 | 18,962 |
2026 | 17,493 |
2027 | 15,490 |
Thereafter | 128,344 |
Total | $ | 222,405 |

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