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Identifiable Intangible Assets and Goodwill | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Identifiable Intangible Assets and Goodwill | Identifiable Intangible Assets and Goodwill The Company's identifiable intangible assets represent intangible assets acquired in acquisitions and software development costs. The components of identifiable intangible assets are:
(in thousands) | June 30, 2023 |  | December 31, 2022 |  |  |  | Estimated Useful Life |  | Weighted-Average Amortization Period
Acquired developed technology | $ | 119,800 |  |  | $ | 119,800 |  |  |  |  | 3 - 7 years |  | 4.84 years
Internally developed software costs | 34,595 |  |  | 32,274 |  |  |  |  | 3 years |  | 1.89 years
Customer relationships | 12,360 |  |  | 12,360 |  |  |  |  | 7 years |  | 4.37 years
Trade names | 1,410 |  |  | 1,410 |  |  |  |  | 2 - 5 years |  | 1.5 years
Non-competition agreements | 30 |  |  | 30 |  |  |  |  | 1 year |  | 1 year
| 168,195 |  |  | 165,874 |  |  |  |  |  |  |
Impact of currency translation on intangible assets | 645 |  |  | 304 |  |  |  |  |  |  |
Less: accumulated amortization | (75,823) |  |  | (63,386) |  |  |  |  |  |  |
| 93,017 |  |  | 102,792 |  |  |  |  |  |  |
Internally developed software costs not meeting general release threshold | 2,418 |  |  | 2,105 |  |  |  |  |  |  |
Trademarks, trade names (non-amortizable) | 6,200 |  |  | 6,200 |  |  |  |  | Indefinite |  |
| $ | 101,635 |  |  | $ | 111,097 |  |  |  |  |  |  |
Software costs placed into service during the three months ended June 30, 2023 and 2022, were $1.5 million and $1.4 million, respectively. Software costs placed into service during the six months ended June 30, 2023 and 2022, were $2.3 million and $2.9 million, respectively. The following table summarizes amortization expense for acquired developed technology and internally developed software:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Amortization of acquired developed technology |  | $ | 4,092 |  |  | $ | 3,650 |  |  | $ | 8,171 |  |  | $ | 7,300 |
Amortization of internally developed software |  | 1,602 |  |  | 1,670 |  |  | 3,337 |  |  | 3,304 |
Impact of currency translation on intangible assets |  | (212) |  |  | — |  |  | (341) |  |  | — |
The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software development costs not meeting the general release threshold, is as follows:
(in thousands) |
2023, remaining | $ | 12,154 |
2024 | 21,890 |
2025 | 20,147 |
2026 | 17,888 |
2027 | 14,778 |
Thereafter | 6,160 |
Total | $ | 93,017 |
Goodwill carried by the Restaurant/Retail and Government segments is as follows:
(in thousands) |
Beginning balance - December 31, 2022 | $ | 486,762 |
Foreign currency translation | 885 |
Ending balance - June 30, 2023 | $ | 487,647 |

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