GOODWILL AND LONG-LIVED ASSETS

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

We performed an assessment in the first quarter of 2023 and did not identify a triggering event that would have required us to test for impairment for the period. During the three months ended March 31, 2022, we determined the impact to our business from the new variant of COVID-19 required us to evaluate our goodwill and long-lived assets for impairment. Our interim quantitative assessment for the first quarter of 2022 did not identify any goodwill or long-lived asset impairment.

In order to evaluate goodwill and long-lived assets for impairment, we compared the fair value of our two reporting units, North America and International, and our asset groups to their carrying values. In determining the fair values of our reporting units and asset groups, we used the discounted cash flow method under the income approach that uses Level 3 inputs.

Goodwill

As of March 31, 2023 and December 31, 2022, the balance of our goodwill was $178.7 million. There was no goodwill activity during the first quarter 2023. All goodwill is within our North America segment and both North America and International segments had a negative carrying value as of March 31, 2023 and the International segment had a negative carrying value as of December 31, 2022.

Long-Lived Assets

The following table summarizes intangible assets as of March 31, 2023 and December 31, 2022 (in thousands):


	March 31, 2023						December 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Merchant relationships	$	18,305	$	15,426	$	2,879	$	17,912	$	14,327	$	3,585
Trade names	9,390		8,484		906		9,340		8,382		958
Patents	13,304		6,737		6,567		13,341		6,701		6,640
Other intangible assets	17,528		11,643		5,885		17,517		11,059		6,458
Total	$	58,527	$	42,290	$	16,237	$	58,110	$	40,469	$	17,641

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 related to intangible assets was $2.1 million and $2.2 million for the three months ended March 31, 2023 and 2022. As of March 31, 2023, estimated future amortization expense related to intangible assets is as follows (in thousands):


Remaining amounts in 2023	$	5,587
2024	4,226
2025	2,733
2026	1,867
2027	1,191
Thereafter	633
Total	$	16,237