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Goodwill and Other Intangible Assets - (Tables) | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The Company's goodwill relates to the following reporting units:
(in thousands) | March 31, 2024 |  | December 31, 2023 |  |
SMB Payments | $ | 124,139 |  |  | $ | 124,139 |  |  |
Enterprise Payments | 244,712 |  |  | 244,712 |  |  |
Plastiq (B2B Payments) | 7,261 |  |  | 7,252 |  |  |
Total | $ | 376,112 |  |  | $ | 376,103 |  |  |
The following table summarizes the changes in the carrying value of goodwill:
(in thousands) | Amount
Balance at December 31, 2023 | $ | 376,103 |
Plastiq adjustment | 9 |
Balance at March 31, 2024 | $ | 376,112 |
Schedule of Other Intangible Assets | Other intangible assets consisted of the following:
| March 31, 2024 |  | Weighted-average Useful Life
(in thousands, except weighted-average data) | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |
Other intangible assets: |  |  |  |  |  |  |
ISO and referral partner relationships | $ | 182,339 |  |  | $ | (39,824) |  |  | $ | 142,515 |  |  | 14.6
Residual buyouts | 135,164 |  |  | (95,505) |  |  | 39,659 |  |  | 6.3
Customer relationships | 109,017 |  |  | (93,459) |  |  | 15,558 |  |  | 8.4
Merchant portfolios | 83,350 |  |  | (59,565) |  |  | 23,785 |  |  | 6.5
Technology | 57,639 |  |  | (23,989) |  |  | 33,650 |  |  | 8.7
Trade names | 7,104 |  |  | (2,713) |  |  | 4,391 |  |  | 10.6
Non-compete agreements | 3,390 |  |  | (3,390) |  |  | — |  |  | 0.0
Money transmission licenses(1) | 2,100 |  |  | — |  |  | 2,100 |  |  |
Total | $ | 580,103 |  |  | $ | (318,445) |  |  | $ | 261,658 |  |  | 9.6
(1)These assets have an indefinite useful life.
| December 31, 2023 |  | Weighted-average Useful Life
(in thousands, except weighted-average data) | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |
Other intangible assets: |  |  |  |  |  |  |
ISO and referral partner relationships | $ | 182,339 |  |  | $ | (36,506) |  |  | $ | 145,833 |  |  | 14.7
Residual buyouts | 135,164 |  |  | (92,699) |  |  | 42,465 |  |  | 6.3
Customer relationships | 109,017 |  |  | (92,781) |  |  | 16,236 |  |  | 8.4
Merchant portfolios | 83,350 |  |  | (56,139) |  |  | 27,211 |  |  | 6.5
Technology | 57,639 |  |  | (22,712) |  |  | 34,927 |  |  | 9.0
Trade names | 7,104 |  |  | (2,526) |  |  | 4,578 |  |  | 11.7
Non-compete agreements | 3,390 |  |  | (3,390) |  |  | — |  |  | 0.0
Money transmission licenses(1) | 2,100 |  |  | — |  |  | 2,100 |  |  |
Total | $ | 580,103 |  |  | $ | (306,753) |  |  | $ | 273,350 |  |  | 9.7
(1)These assets have an indefinite useful life.
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2024 |  | 2023
Amortization expense(1) |  |  |  |  | $ | 12,083 |  |  | $ | 15,291 |
(1)Included in amortization expense is $0.4 million and $0.1 million as of March 31, 2024 and 2023, respectively, related to the amortization of certain contract acquisition costs.

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