Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

8. Goodwill and Intangible Assets:

Goodwill was $1.51 billion and $1.48 billion at December 31, 2021 and 2020. Goodwill is tested for impairment on at least an annual basis, in accordance with the subsequent measurement provisions of the accounting guidance for goodwill. Consistent with prior years, the Company performed its annual impairment test in the third quarter of 2021 and determined that goodwill was not impaired.

Intangible assets, net, consist of the following (in thousands):


	December 31, 2021
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Physician and hospital agreements	$	101,542	$	(83,440	)	$	18,102
Other technology		7,801		(4,338	)		3,463
	$	109,343	$	(87,778	)	$	21,565


	December 31, 2020
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Physician and hospital agreements	$	107,246	$	(83,089	)	$	24,157
Other technology		5,197		(2,712	)		2,485
	$	112,443	$	(85,801	)	$	26,642

During the year ended December 31, 2021, the Company recorded intangible assets related to acquisitions totaling $3.5 million, consisting primarily of physician and hospital agreements. The weighted-average amortization period for these physician and hospital agreements is approximately 11 years.

Amortization expense for intangible assets was $8.0 million, $7.6 million and $7.3 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Amortization expense for existing intangible assets for the next five years is expected to be as follows (in thousands):


2022	$	5,591
2023		4,787
2024		3,019
2025		1,814
2026		1,158