v3.22.2
Intangible Assets, Net and Goodwill (Notes)
6 Months Ended
Jun. 30, 2022
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. Intangible assets consist of the following:
June 30, 2022December 31, 2021
(in thousands)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueGross Carrying ValueAccumulated AmortizationNet Carrying Value
Purchased customer accounts$873,351 $(80,436)$792,915 $851,445 $(54,481)$796,964 
Distributor relationships260,421 (6,976)253,445 100,621 (3,814)96,807 
Software73,357 (23,563)49,794 41,743 (18,265)23,478 
Trade names28,523 (5,713)22,810 24,189 (3,583)20,606 
Carrier relationships7,859 (1,435)6,424 7,859 (1,247)6,612 
Totals$1,243,511 $(118,123)$1,125,388 $1,025,857 $(81,390)$944,467 

Amortization expense recorded for intangible assets was $19.2 million and $10.7 million for the three months ended June 30, 2022 and 2021, respectively, and $36.7 million and $21.3 million for the six months ended June 30, 2022 and 2021, respectively.
Refer to Note 2 for a summary of goodwill recorded in connection with business combinations during the six months ended June 30, 2022. The changes in carrying value of goodwill by Operating Group for the periods are as follows:
(in thousands) Middle Market Specialty MainStreet Medicare Total
Balance at December 31, 2021$901,127 $264,018 $38,892 $24,704 $1,228,741 
Goodwill of acquired businesses— 6,865 176,176 — 183,041 
Measurement period adjustments(1)
2,983 516 — — 3,499 
Balance at June 30, 2022$904,110 $271,399 $215,068 $24,704 $1,415,281 
__________
(1)    Measurement period adjustments relating to businesses acquired in the fourth quarter of 2021 increased premiums, commissions and fees receivable by $3.7 million, increased current liabilities by $7.0 million and increased consideration by $0.2 million.