Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 9. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill are as follows:


(in thousands)	Pursuit
Balance at December 31, 2021	$	112,078
Foreign currency translation adjustments		1,155
Balance at March 31, 2022	$	113,233

Goodwill is tested for impairment at the reporting unit level on an annual basis as of October 31, and between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value. We use a discounted expected future cash flow methodology (income approach) to estimate the fair value of our reporting units for purposes of goodwill impairment testing.

Other intangible assets consisted of the following:


		March 31, 2022							December 31, 2021
(in thousands)	Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization:
Customer contracts and relationships	6.1	$	36,048	$	(28,277	)	$	7,771	$	36,848	$	(28,372	)	$	8,476
Operating contracts and licenses	35.5		41,354		(2,877	)		38,477		40,927		(2,660	)		38,267
In-place lease	12.9		15,628		(1,206	)		14,422		15,464		(1,084	)		14,380
Tradenames	4.1		5,685		(3,032	)		2,653		5,626		(2,819	)		2,807
Other	5.9		833		(149	)		684		824		(139	)		685
Total amortized intangible assets			99,548		(35,541	)		64,007		99,689		(35,074	)		64,615
Indefinite-lived intangible assets:
Business licenses			575		—			575		574		—			574
Other intangible assets		$	100,123	$	(35,541	)	$	64,582	$	100,263	$	(35,074	)	$	65,189

Intangible asset amortization expense was $1.2 million for both the three months ended March 31, 2022 and the three months ended March 31, 2021.

At March 31, 2022, the estimated future amortization expense related to intangible assets subject to amortization is as follows:


(in thousands)
Year ending December 31,
Remainder of 2022	$	3,916
2023		4,491
2024		3,530
2025		2,233
2026		2,204
Thereafter		47,633
Total	$	64,007