XML 29 R13.htm IDEA: XBRL DOCUMENT v3.23.1
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
The Company's goodwill relates to the following reporting units was as follows:
(in thousands)March 31, 2023December 31, 2022
SMB Payments$124,028 $124,625 
Enterprise Payments244,712 244,712 
Total$368,740 $369,337 
The following table summarizes the changes in the carrying value of goodwill for the periods ended March 31, 2023 and December 31, 2022:
(in thousands)Amount
Balance at December 31, 2022$369,337 
Purchase price adjustment for Ovvi(597)
Balance at March 31, 2023
$368,740 
As of March 31, 2023, the Company is not aware of any triggering events for impairment that have occurred since the last annual impairment test.
Other Intangible Assets
Other intangible assets consisted of the following:
(in thousands, except weighted-average data)March 31, 2023Weighted-average
Useful Life
Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Other intangible assets:
ISO and referral partner relationships$175,300 $(27,096)$148,204 14.8
Residual buyouts136,064 (81,335)54,729 6.3
Customer relationships96,000 (86,319)9,681 8.2
Merchant portfolios76,350 (46,202)30,148 6.7
Technology51,156 (19,524)31,632 8.9
Trade names3,183 (2,199)984 11.4
Non-compete agreements3,390 (3,390)— 0.0
Money transmission licenses(1)
2,100 — 2,100 
Total $543,543 $(266,065)$277,478 9.7
(1)These assets have an indefinite useful life.
(in thousands, except weighted-average data)December 31, 2022Weighted-average
Useful Life
Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Other intangible assets:
ISO and referral partner relationships$175,300 $(24,021)$151,279 14.8
Residual buyouts132,325 (76,316)56,009 6.6
Customer relationships96,000 (83,298)12,702 8.2
Merchant portfolios76,423 (43,170)33,253 6.7
Technology50,963 (18,566)32,397 8.4
Trade names3,183 (2,129)1,054 11.6
Non-compete agreements3,390 (3,390)— 0.0
Money transmission licenses(1)
2,100 — 2,100 
Total $539,684 $(250,890)$288,794 9.7
(1)These assets have an indefinite useful life.

Three Months Ended March 31,
(in thousands)20232022
Amortization expense$15,291 $15,126 
As of March 31, 2023, there were no impairment indicators present.