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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill, allocated by operating segments, were as follows (see Note 15):
(In thousands) |  | Payment Services - Puerto Rico & Caribbean |  | Latin America Payments and Solutions |  | Merchant Acquiring, net |  | Business Solutions |  | Total
Balance at December 31, 2023 |  | $ | 160,972 |  |  | $ | 452,597 |  |  | $ | 138,121 |  |  | $ | 40,010 |  |  | $ | 791,700 |
Adjustment to goodwill from prior year acquisition |  | — |  |  | (1,352) |  |  | — |  |  | — |  |  | (1,352) |
Foreign currency translation adjustments |  | — |  |  | (48,703) |  |  | — |  |  | — |  |  | (48,703) |
Balance at June 30, 2024 |  | $ | 160,972 |  |  | $ | 402,542 |  |  | $ | 138,121 |  |  | $ | 40,010 |  |  | $ | 741,645 |
Goodwill is tested for impairment on an annual basis as of August 31, or more often if events or changes in circumstances indicate there may be impairment. The Company may test for goodwill impairment using a qualitative or a quantitative analysis. In a qualitative analysis, the Company assesses whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount. In the quantitative analysis, the Company compares the estimated fair value of the reporting units to their carrying values, including goodwill. No impairment losses were recognized for the periods ended June 30, 2024 or 2023. The carrying amount of other intangible assets at June 30, 2024 and December 31, 2023 was as follows:
|  |  |  | June 30, 2024
(Dollar amounts in thousands) |  | Useful life in years |  | Gross amount |  | Accumulated amortization |  | Net carrying amount
Customer relationships |  | 8 - 20 |  | $ | 550,381 |  |  | $ | (373,726) |  |  | $ | 176,655 |
Trademarks |  | 10 - 15 |  | 88,097 |  |  | (46,238) |  |  | $ | 41,859 |
Software packages |  | 3 - 10 |  | 522,934 |  |  | (292,938) |  |  | $ | 229,996 |
Non-compete agreement |  | 5 |  | 3,555 |  |  | (428) |  |  | $ | 3,127 |
Other intangible assets, net |  |  |  | $ | 1,164,967 |  |  | $ | (713,330) |  |  | $ | 451,637 |
|  |  |  | December 31, 2023
(Dollar amounts in thousands) |  | Useful life in years |  | Gross amount |  | Accumulated amortization |  | Net carrying amount
Customer relationships |  | 8 - 20 |  | $ | 568,284 |  |  | $ | (340,952) |  |  | $ | 227,332 |
Trademarks |  | 1 - 15 |  | 94,203 |  |  | (41,319) |  |  | 52,884 |
Software packages |  | 3 - 10 |  | 510,898 |  |  | (274,610) |  |  | 236,288 |
Non-compete agreement |  | 5 |  | 1,735 |  |  | (169) |  |  | 1,566 |
Other intangible assets, net |  |  |  | $ | 1,175,120 |  |  | $ | (657,050) |  |  | $ | 518,070 |
Amortization expense related to other intangibles for the three and six months ended June 30, 2024 amounted to $27.6 million and $56.3 million, respectively, compared to $14.9 million and $31.2 million fo r the corresponding periods in 2023. The estimated amortization expense of the other intangible balances outstanding at June 30, 2024, for the remainder of 2024 and the years thereafter is as follows:
(In thousands)
Remaining 2024 |  | $ | 54,782 |
2025 |  | 87,631 |
2026 |  | 74,283 |
2027 |  | 61,724 |
2028 |  | 49,983 |
Thereafter |  | 123,234 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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