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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets There were no changes in the carrying amount of goodwill during the three and nine months ended September 30, 2023. Intangible assets other than goodwill at September 30, 2023 and December 31, 2022 were as follows:
| September 30, 2023 |  | December 31, 2022 |  | Useful Life (in years) |  | Weighted Average Useful Life Remaining (in years)
(in thousands) | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net |  |
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketing assets | $ | 930 |  |  | $ | (876) |  |  | $ | 54 |  |  | $ | 930 |  |  | $ | (806) |  |  | $ | 124 |  |  | 10.0 |  | 0.6
Non-compete agreement | 825 |  |  | (569) |  |  | 256 |  |  | 828 |  |  | (487) |  |  | 341 |  |  | 2.0 - 5.0 |  | 1.6
Software technology | 13,229 |  |  | (7,410) |  |  | 5,819 |  |  | 13,229 |  |  | (6,383) |  |  | 6,846 |  |  | 10.0 |  | 4.3
Software platform | 25,902 |  |  | (5,928) |  |  | 19,974 |  |  | 26,054 |  |  | (4,337) |  |  | 21,717 |  |  | 12.0 |  | 9.3
Tradenames | 348 |  |  | (312) |  |  | 36 |  |  | 350 |  |  | (227) |  |  | 123 |  |  | 3.0 |  | 0.3
Customer relationships | 12,185 |  |  | (11,656) |  |  | 529 |  |  | 12,197 |  |  | (10,098) |  |  | 2,099 |  |  | 3.0 - 9.0 |  | 0.2
Total intangible assets | $ | 53,419 |  |  | $ | (26,751) |  |  | $ | 26,668 |  |  | $ | 53,588 |  |  | $ | (22,338) |  |  | $ | 31,250 |  |  |  |  |
Intangible assets allocated to the acquired Hubs entities consisted of intangible assets of €11.6 million in Europe and $16.6 million in the United States as of the date of the acquisition. The Euro denominated intangible assets are translated at the end of each period using the current exchange rates resulting in a foreign currency translation adjustment that is recorded as a component of Other Comprehensive Income. Foreign currency losses related to intangible assets were $1.9 million and $1.7 million as of September 30, 2023 and December 31, 2022, respectively. Amortization expense for intangible assets was $1.5 million for each of the three months ended September 30, 2023 and 2022 and $4.5 million and $4.6 million for the nine months ended September 30, 2023 and 2022, respectively. Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets and current exchange rates is as follows:
(in thousands) | Estimated Amortization Expense
Remaining 2023 | $ | 1,432
2024 | 3,713
2025 | 3,619
2026 | 3,518
2027 | 3,509
Thereafter | 10,877
Total estimated amortization expense | $ | 26,668

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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