Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

4. Goodwill and Intangible Assets

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, 2024	$	420,167	$	213,382	$	102,066	$	735,615
Foreign currency translation adjustment		1,855		102		—		1,957
Balance at March 31, 2025	$	422,022	$	213,484	$	102,066	$	737,572

Intangible assets consist of the following as of the respective period-ends:


	March 31, 2025						December 31, 2024
	Weighted						Weighted
	Average	Gross					Average	Gross
	Remaining	Carrying			Accumulated		Remaining	Carrying			Accumulated
($ in thousands)	Useful Life	Amount			Amortization		Useful Life	Amount			Amortization
Trademarks	4.9 years	$	4,704		$	2,137	5.2 years	$	4,667		$	1,972
Patent	3.6 years		500			142	3.8 years		500			117
Customer relationships	3.3 years		558,764			363,713	3.5 years		557,958			348,138
Developed technology	3.6 years		38,971			20,934	3.9 years		38,659			19,260
Gross carrying value of intangible assets			602,939		$	386,926			601,784		$	369,487
Less: accumulated amortization			(386,926	)					(369,487	)
Intangible assets, net		$	216,013					$	232,297

Amortization expense was $16.7 million for both the three months ended March 31, 2025 and 2024.

Estimated amortization expense in future years is expected to be: