v3.21.2

Intangible Assets, Net and Goodwill (Notes) | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, Net and Goodwill | Intangible Assets, Net and Goodwill The Company recognizes certain separately identifiable intangible assets acquired in connection with business combinations and asset acquisitions. Refer to Note 3 for a summary of intangible assets acquired in connection with business combinations during the nine months ended September 30, 2021. Intangible assets consist of the following:
|  | September 30, 2021 |  | December 31, 2020
(in thousands) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Purchased customer accounts (1) |  | $ | 616,144 |  |  | $ | (43,666) |  |  | $ | 572,478 |  |  | $ | 501,512 |  |  | $ | (18,604) |  |  | $ | 482,908 |
Distributor relationships |  | 37,226 |  |  | (2,562) |  |  | 34,664 |  |  | 32,380 |  |  | (1,377) |  |  | 31,003 |
Software |  | 39,659 |  |  | (16,334) |  |  | 23,325 |  |  | 30,828 |  |  | (10,801) |  |  | 20,027 |
Trade names (1) |  | 18,380 |  |  | (2,802) |  |  | 15,578 |  |  | 14,439 |  |  | (932) |  |  | 13,507 |
Carrier relationships |  | 7,859 |  |  | (1,181) |  |  | 6,678 |  |  | 7,859 |  |  | (984) |  |  | 6,875 |
Totals |  | $ | 719,268 |  |  | $ | (66,545) |  |  | $ | 652,723 |  |  | $ | 587,018 |  |  | $ | (32,698) |  |  | $ | 554,320 |
__________ (1) During the nine months ended September 30, 2021, the Company recorded measurement period adjustments relating to certain businesses acquired in the fourth quarter of 2020, which decreased purchased customer accounts and trade names by $4.6 million and $156,000, respectively. Amortization expense recorded for intangible assets was $12.6 million and $5.2 million for the three months ended September 30, 2021 and 2020, respectively, and $33.9 million and $13.2 million for the nine months ended September 30, 2021 and 2020, respectively. Refer to Note 3 for a summary of goodwill recorded in connection with business combinations during the nine months ended September 30, 2021. The changes in carrying value of goodwill by Operating Group for the period are as follows:
(in thousands) |  | Middle Market |  | Specialty |  | MainStreet |  | Medicare |  | Total
Balance at December 31, 2020 |  | $ | 526,858 |  |  | $ | 65,319 |  |  | $ | 38,892 |  |  | $ | 20,433 |  |  | $ | 651,502 |
Goodwill of acquired businesses |  | 143,266 |  |  | 88,022 |  |  | — |  |  | 4,241 |  |  | 235,529 |
Measurement period adjustments (1) |  | (1,710) |  |  | — |  |  | — |  |  | — |  |  | (1,710) |
Balance at September 30, 2021 |  | $ | 668,414 |  |  | $ | 153,341 |  |  | $ | 38,892 |  |  | $ | 24,674 |  |  | $ | 885,321 |
__________ (1) Measurement period adjustments relating to businesses acquired in the fourth quarter of 2020 increased accrued expenses and other current liabilities by $93,000, decreased property and equipment by $124,000, decreased premiums, commissions and fees receivable, net by $545,000

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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