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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in Carrying Amount of Goodwill by Reportable Segment | The following table presents the changes in the carrying amount of goodwill by reportable segment:
|  | Commercial |  |  | Government |  |  | Parking |  |  |  |
($ in thousands) |  | Services |  |  | Solutions |  |  | Solutions |  |  | Total |
Balance at December 31, 2019 |  | $ | 424,404 |  |  | $ | 159,746 |  |  | $ | — |  |  | $ | 584,150 |
Foreign currency translation adjustment |  |  | 2,285 |  |  |  | — |  |  |  | — |  |  |  | 2,285 |
Balance at December 31, 2020 |  |  | 426,689 |  |  |  | 159,746 |  |  |  | — |  |  |  | 586,435 |
Acquisition of Redflex |  |  | — |  |  |  | 56,214 |  |  |  | — |  |  |  | 56,214 |
Acquisition of T2 Systems |  |  | — |  |  |  | — |  |  |  | 195,226 |  |  |  | 195,226 |
Acquisition of NuPark |  |  | — |  |  |  | — |  |  |  | 3,160 |  |  |  | 3,160 |
Foreign currency translation adjustment |  |  | (1,608 | ) |  |  | (560 | ) |  |  | — |  |  |  | (2,168 | )
Balance at December 31, 2021 |  | $ | 425,081 |  |  | $ | 215,400 |  |  | $ | 198,386 |  |  | $ | 838,867 |
Schedule of Intangible Assets of Respective Period Ends | Intangible assets consist of the following as of the respective period-ends:
|  | Weighted |  | Weighted |  | At December 31, 2021 |
|  | Average |  | Average |  | Gross |  |  |  |
|  | Remaining |  | Amortization |  | Carrying |  |  | Accumulated |
($ in thousands) |  | Useful Life |  | Period |  | Amount |  |  | Amortization |
Trademarks |  | 0.5 years |  | 3.7 years |  | $ | 36,225 |  |  | $ | 31,429 |
Non-compete agreements |  | 1.0 years |  | 5.0 years |  |  | 62,555 |  |  |  | 49,982 |
Customer relationships |  | 6.5 years |  | 9.3 years |  |  | 561,767 |  |  |  | 167,255 |
Developed technology |  | 2.2 years |  | 5.8 years |  |  | 202,768 |  |  |  | 127,350 |
Gross carrying value of intangible assets |  |  |  |  |  |  | 863,315 |  |  | $ | 376,016 |
Less: accumulated amortization |  |  |  |  |  |  | (376,016 | ) |  |  |
Intangible assets, net |  |  |  |  |  | $ | 487,299 |  |  |  |
|  | Weighted |  | Weighted |  | At December 31, 2020 |
|  | Average |  | Average |  | Gross |  |  |  |
|  | Remaining |  | Amortization |  | Carrying |  |  | Accumulated |
($ in thousands) |  | Useful Life |  | Period |  | Amount |  |  | Amortization |
Trademarks |  | 0.3 years |  | 3.0 years |  | $ | 32,223 |  |  | $ | 29,358 |
Non-compete agreements |  | 2.0 years |  | 5.0 years |  |  | 62,589 |  |  |  | 37,412 |
Customer relationships |  | 5.9 years |  | 8.9 years |  |  | 367,512 |  |  |  | 123,784 |
Developed technology |  | 2.3 years |  | 5.5 years |  |  | 166,217 |  |  |  | 95,848 |
Gross carrying value of intangible assets |  |  |  |  |  |  | 628,541 |  |  | $ | 286,402 |
Less: accumulated amortization |  |  |  |  |  |  | (286,402 | ) |  |  |
Intangible assets, net |  |  |  |  |  | $ | 342,139 |  |  |  |
Estimated Amortization Expense in Future Years | Estimated amortization expense in future years is expected to be:
($ in thousands) |  |  |
2022 |  | $ | 106,360 |
2023 |  |  | 77,609 |
2024 |  |  | 67,117 |
2025 |  |  | 64,419 |
2026 |  |  | 57,617 |
Thereafter |  |  | 114,177 |
Total |  | $ | 487,299 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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