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Identifiable Intangible Assets and Goodwill | 9 Months Ended
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Sep. 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) | September 30, 2023 |  | December 31, 2022 |  |  |  | Estimated Useful Life |  | Weighted-Average Amortization Period
Acquired developed technology | $ | 119,800 |  |  | $ | 119,800 |  |  |  |  | 3 - 7 years |  | 4.59 years
Internally developed software costs | 34,986 |  |  | 32,274 |  |  |  |  | 3 years |  | 1.86 years
Customer relationships | 12,360 |  |  | 12,360 |  |  |  |  | 7 years |  | 4.13 years
Trade names | 1,410 |  |  | 1,410 |  |  |  |  | 2 - 5 years |  | 1.25 years
Non-competition agreements | 30 |  |  | 30 |  |  |  |  | 1 year |  | 1 year
| 168,586 |  |  | 165,874 |  |  |  |  |  |  |
Impact of currency translation on intangible assets | 430 |  |  | 304 |  |  |  |  |  |  |
Less: accumulated amortization | (81,879) |  |  | (63,386) |  |  |  |  |  |  |
| 87,137 |  |  | 102,792 |  |  |  |  |  |  |
Internally developed software costs not meeting general release threshold | 3,225 |  |  | 2,105 |  |  |  |  |  |  |
Trademarks, trade names (non-amortizable) | 6,200 |  |  | 6,200 |  |  |  |  | Indefinite |  |
| $ | 96,562 |  |  | $ | 111,097 |  |  |  |  |  |  |
Software costs placed into service during the three months ended September 30, 2023 and 2022, were $0.4 million and $1.4 million, respectively. Software costs placed into service during the nine months ended September 30, 2023 and 2022, were $2.7 million and $4.3 million, respectively. The following table summarizes amortization expense for acquired developed technology and internally developed software:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Amortization of acquired developed technology |  | $ | 4,020 |  |  | $ | 4,219 |  |  | $ | 12,160 |  |  | $ | 11,519 |
Amortization of internally developed software |  | 1,555 |  |  | 1,749 |  |  | 4,892 |  |  | 5,053 |
Impact of foreign currency translation on intangible assets |  | 215 |  |  | — |  |  | (126) |  |  | — |
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 | $ | 6,089 |
2024 | 21,949 |
2025 | 20,328 |
2026 | 17,912 |
2027 | 14,747 |
Thereafter | 6,112 |
Total | $ | 87,137 |
Goodwill carried by the Restaurant/Retail and Government segments is as follows:
(in thousands) |
Beginning balance - December 31, 2022 | $ | 486,762 |
Foreign currency translation | 311 |
Ending balance - September 30, 2023 | $ | 487,073 |

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