GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes goodwill activity by segment for the years ended December 31, 2021 and 2020 (in thousands):


	North America		International (1)		Consolidated
Balance as of December 31, 2019	$	178,685	$	146,332	$	325,017
Impairment	—		(109,486)		(109,486)
Foreign currency translation	—		(832)		(832)
Balance as of December 31, 2020	$	178,685	$	36,014	$	214,699
Other (2)	—		3,776		3,776
Foreign currency translation	—		(2,082)		(2,082)
Balance as of December 31, 2021	$	178,685	$	37,708	$	216,393

(1)As of December 31, 2021 and 2020, the International reporting unit had a negative carrying value.

(2)Represents the reclassification between Right-of-use assets - operating leases, net and Goodwill due to an adjustment in the allocation of impairments recorded in 2020 between those two accounts.

In order to evaluate goodwill for impairment, we compare the fair values of our two reporting units, North America and International, to their carrying values. In determining the fair values of our reporting units, we use the discounted cash flow method under the income approach and the market multiple valuation approach that use Level 3 inputs.

During the third quarter of 2021, we evaluated our goodwill for impairment due to the circumstances described in Note 3, COVID-19 Pandemic. The fair value of the reporting units exceeded the carrying value, therefore we concluded that goodwill was not impaired for either of our reporting units. Additionally, we performed our annual goodwill impairment assessment as of October 1, 2021 and determined no reporting units' carrying values were in excess of their estimated fair values. Therefore, we did not recognize goodwill impairment for any of our reporting units during the year ended December 31, 2021.

During the first quarter 2020, we recognized goodwill impairment, as shown in the table above, due to the circumstances described in Note 3, COVID-19 Pandemic, within our International segment related to our EMEA operations. We did not recognize any goodwill impairment in our North America or Asia Pacific reporting units.

During the third quarter 2020, we exited our operations in Japan and New Zealand as part of our restructuring plan, which represents the majority of the countries in our Asia Pacific reporting unit. As a result, we combined the remainder of the Asia Pacific reporting unit and the EMEA reporting unit into a single International reporting unit, consistent with how management reviews the operating results of the business. As a result of the change in reporting units, we performed a qualitative assessment of potential goodwill impairment for the new International reporting unit and performed separate qualitative assessments of potential goodwill impairment for our Asia Pacific and EMEA reporting units immediately prior to the change. Based on those assessments, we determined that the likelihood of a goodwill impairment did not reach the more-likely-than-not threshold. Accordingly, we concluded that goodwill relating to those reporting units was not impaired and further quantitative testing was not required to be performed.

There was no goodwill impairment for the year ended December 31, 2019.

The following table summarizes intangible assets as of December 31, 2021 and 2020 (in thousands):


	December 31, 2021						December 31, 2020
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Merchant relationships	19,976		12,554		7,422		20,208		9,236		10,972
Trade names	9,604		8,215		1,389		9,651		7,921		1,730
Developed technology	540		540		—		2,121		1,863		258
Patents	12,455		5,712		6,743		10,813		4,697		6,116
Other intangible assets	17,033		8,277		8,756		17,823		6,748		11,075
Total	$	59,608	$	35,298	$	24,310	$	60,616	$	30,465	$	30,151

Amortization of intangible assets is computed using the straight-line method over their estimated useful lives, which range from 1 to 10 years. Amortization expense from continuing operations related to intangible assets was $8.9 million, $9.7 million and $14.4 million for the years ended December 31, 2021, 2020 and 2019. As of December 31, 2021, our estimated future amortization expense related to intangible assets is as follows (in thousands):


2022	$	8,537
2023	7,366
2024	3,675
2025	2,102
2026	1,218
Thereafter	1,412
Total	$	24,310