GOODWILL AND LONG-LIVED ASSETS

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

As of March 31, 2024 and December 31, 2023, the balance of our goodwill was $178.7 million. There was no goodwill activity during the three months ended March 31, 2024. All goodwill is within our North America segment.

Long-Lived Assets

In March 2024, we entered into an agreement with a third party to sell the rights to certain intangible assets in exchange for cash consideration of $10.0 million, subject to license-back provisions that permit continued use of the assets in the ordinary course of our business. The sale was completed in April 2024. The assets are within our North America segment and are classified as held-for-sale as of March 31, 2024 on the Condensed Consolidated Balance Sheets.

The following table summarizes intangible assets as of March 31, 2024 and December 31, 2023 (in thousands):


	March 31, 2024						December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Merchant relationships	$	18,683	$	18,460	$	223	$	18,842	$	17,944	$	898
Trade names	9,438		8,814		624		9,459		8,753		706
Patents (1)	1,250		820		430		13,235		7,237		5,998
Other intangible assets	9,314		5,712		3,602		9,318		5,516		3,802
Total	$	38,685	$	33,806	$	4,879	$	50,854	$	39,450	$	11,404

(1) The change in the net carrying value is primarily due to certain intangible assets being classified as held-for-sale.

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 $1.6 million and $2.1 million for the three months ended March 31, 2024 and 2023. As of March 31, 2024, estimated future amortization expense related to intangible assets is as follows (in thousands):


Remaining amounts in 2024	$	1,235
2025	1,253
2026	975
2027	816
2028	600
Thereafter	—
Total	$	4,879