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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 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 |
Business acquisition |  |  | 16,787 |
Foreign currency translation adjustments |  |  | (1,988 | )
Balance at June 30, 2022 |  | $ | 126,877 |
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:
|  |  |  | June 30, 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 |  | 7.2 |  | $ | 37,485 |  |  | $ | (28,764 | ) |  | $ | 8,721 |  |  | $ | 36,848 |  |  | $ | (28,372 | ) |  | $ | 8,476 |
Operating contracts and licenses |  | 34.6 |  |  | 41,444 |  |  |  | (3,113 | ) |  |  | 38,331 |  |  |  | 40,927 |  |  |  | (2,660 | ) |  |  | 38,267 |
In-place lease |  | 34.3 |  |  | 15,183 |  |  |  | (1,280 | ) |  |  | 13,903 |  |  |  | 15,464 |  |  |  | (1,084 | ) |  |  | 14,380 |
Tradenames |  | 4.3 |  |  | 5,823 |  |  |  | (3,128 | ) |  |  | 2,695 |  |  |  | 5,626 |  |  |  | (2,819 | ) |  |  | 2,807 |
Other |  | 5.7 |  |  | 810 |  |  |  | (154 | ) |  |  | 656 |  |  |  | 824 |  |  |  | (139 | ) |  |  | 685 |
Total amortized intangible assets |  |  |  |  | 100,745 |  |  |  | (36,439 | ) |  |  | 64,306 |  |  |  | 99,689 |  |  |  | (35,074 | ) |  |  | 64,615 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business licenses |  |  |  |  | 572 |  |  |  | — |  |  |  | 572 |  |  |  | 574 |  |  |  | — |  |  |  | 574 |
Other intangible assets, net |  |  |  | $ | 101,317 |  |  | $ | (36,439 | ) |  | $ | 64,878 |  |  | $ | 100,263 |  |  | $ | (35,074 | ) |  | $ | 65,189 |
Intangible asset amortization expense (excluding amortization expense of ROU assets) was $1.4 million for the three months ended June 30, 2022 and $2.6 million for the six months ended June 30, 2022. Intangible assets amortization expense was $1.6 million for the three months ended June 30, 2021 and $2.8 million for the six months ended June 30, 2021. At June 30, 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 |  | $ | 2,686 |
2023 |  |  | 4,710 |
2024 |  |  | 3,746 |
2025 |  |  | 2,439 |
2026 |  |  | 2,404 |
Thereafter |  |  | 48,321 |
Total |  | $ | 64,306 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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