Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

7. Goodwill and Other Intangible Assets

Goodwill

As of December 31, 2023, changes in the carrying value of goodwill are as follows:


	U.S. Marketplace		Digital Wholesale		Other		Total
Balance as of December 31, 2022	$	12,477	$	130,451	$	14,539	$	157,467
Foreign currency translation adjustment		—		—		431		431
Balance as of December 31, 2023	$	12,477	$	130,451	$	14,970	$	157,898

The Company assessed its goodwill for impairment and did not identify any impairment as of December 31, 2023. Although no impairment was identified during the annual impairment test as of October 1, 2023, the excess of the fair value over the carrying value declined for the CarOffer reporting unit in the Digital Wholesale segment. If projected future operating results further decline, including as a result of economic conditions or operational challenges, the Company may need to record an impairment charge to reduce its goodwill at CarOffer which could be material and negatively affect the Company's operations.

Other Intangible Assets

As of December 31, 2023 and 2022, intangible assets consist of the following:


	As of December 31, 2023
	Weighted Average Remaining Useful Life (years)		Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Brand		7.4	$	32,193	$	10,262	$	—	$	21,931
Customer relationships		0.0		19,870		19,620		—		250
Developed technology		0.0		65,212		63,690		647		875
Total			$	117,275	$	93,572	$	647	$	23,056


	As of December 31, 2022
	Weighted Average Remaining Useful Life (years)		Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Brand		8.4	$	32,129	$	7,227	$	—	$	24,902
Customer relationships		1.0		19,870		13,609		—		6,261
Developed technology		1.0		65,212		42,674		647		21,891
Total			$	117,211	$	63,510	$	647	$	53,054

For the year ended December 31, 2023, 2022, and 2021, amortization of intangible assets was $30,062, $30,716, and $30,152, respectively.

For the year ended December 31, 2021, the Company wrote off $647 of U.S. Marketplace segment intangible assets within marketplace cost of revenue in the consolidated income statements related to certain developed technology which the Company decided to cease investment.

As of December 31, 2023, estimated amortization expense of intangible assets for future periods is as follows:


Year Ending December 31,	Amortization Expense
2024		4,162
2025		3,037
2026		3,037
2027		3,037
2028		3,037
Thereafter		6,746
Total	$	23,056