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Identifiable Intangible Assets and Goodwill (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Components of Identifiable Intangible Assets | The components of identifiable intangible assets are:
| December 31, |  |
(in thousands) | 2023 |  | 2022 | Estimated Useful Life | Weighted-Average Amortization Period
Acquired developed technology | $ | 119,800 |  |  | $ | 119,800 |  | 3 - 7 years | 4.40 years
Internally developed software costs | 36,876 |  |  | 32,274 |  | 3 years | 1.95 years
Customer relationships | 14,510 |  |  | 12,360 |  | 7 years | 4.60 years
Trade names | 1,410 |  |  | 1,410 |  | 2 - 5 years | 1.00 year
Non-competition agreements | 30 |  |  | 30 |  | 1 year | 1.00 year
| 172,626 |  |  | 165,874 |  |  |
Impact of currency translation on intangible assets | 1,399 |  |  | 304 |  |  |
Less: accumulated amortization | (88,259) |  |  | (63,386) |  |  |
| $ | 85,766 |  |  | $ | 102,792 |  |  |
Internally developed software costs not meeting general release threshold | 2,886 |  |  | 2,105 |  |  |
Trademarks, trade names (non-amortizable) | 6,200 |  |  | 6,200 |  | Indefinite |
| $ | 94,852 |  |  | $ | 111,097 |  |  |
Schedule of Expected Future Amortization of Intangible Assets | The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software costs not meeting the general release threshold, is as follows (in thousands):
2024 | $ | 23,065 |
2025 | 21,477 |
2026 | 18,857 |
2027 | 15,193 |
2028 | 7,174 |
Thereafter | — |
Total | $ | 85,766 |
Schedule of Amortization Expense | Amortization expense for identifiable intangible assets was allocated as follows:
(in thousands) | 2023 |  | 2022 |  | 2021
Amortization of acquired developed technology | $ | 16,281 |  |  | $ | 15,307 |  |  | $ | 11,978 |
Amortization of internally developed software | 6,548 |  |  | 6,737 |  |  | 5,411 |
Amortization of identifiable intangible assets recorded in cost of sales | $ | 22,829 |  |  | $ | 22,044 |  |  | $ | 17,389 |
Amortization expense recorded in operating expense | 1,858 |  |  | 1,863 |  |  | 1,825 |
Impact of currency translation on intangible assets | (909) |  |  | (304) |  |  | — |
Schedule of Goodwill | The following table presents the goodwill activities for the periods presented:
(in thousands) |  |
Beginning balance - December 31, 2021 |  | $ | 457,306 |
Q1 2022 Acquisition |  | 1,212 |
MENU Acquisition |  | 28,495 |
Punchh Acquisition ASC 805 measurement period adjustment |  | (1,085) |
Foreign currency translation |  | 834 |
Balance - December 31, 2022 |  | 486,762 |
Foreign currency translation |  | 2,892 |
Ending balance - December 31, 2023 |  | $ | 489,654 |
Refer to "Note 2 - Acquisitions" for additional information on goodwill recognized in acquisitions

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