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Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets | 8. Intangible Assets The Company holds definite and indefinite-lived intangible assets. The indefinite-lived intangible assets consist of trade names of $21.7 million as of June 30, 2020. This balance consists of four trade names, arising from the acquisitions of Hawk Parent, TriSource, APS and Ventanex in the Successor period from July 11, 2019 to June 30, 2020. Definite-lived intangible assets consisted of the following:
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (Years) |
Customer relationships |  | $ | 280,700,000 |  |  | $ | 25,273,001 |  |  | $ | 255,426,999 |  |  |  | 9.03 |
Channel relationships |  |  | 3,000,000 |  |  |  | 291,935 |  |  |  | 2,708,065 |  |  |  | 9.03 |
Software costs |  |  | 83,848,542 |  |  |  | 24,261,513 |  |  |  | 59,587,029 |  |  |  | 1.97 |
Non-compete agreements |  |  | 3,990,000 |  |  |  | 1,580,529 |  |  |  | 2,409,471 |  |  |  | 1.84 |
Balance as of June 30, 2020 |  | $ | 371,538,542 |  |  | $ | 51,406,978 |  |  | $ | 320,131,564 |  |  |  | 7.36 |
Customer relationships |  | $ | 256,000,000 |  |  | $ | 11,393,825 |  |  | $ | 244,606,175 |  |  |  | 9.48 |
Channel relationships |  |  | 3,000,000 |  |  |  | 141,935 |  |  |  | 2,858,065 |  |  |  | 9.53 |
Software costs |  |  | 72,290,752 |  |  |  | 11,080,696 |  |  |  | 61,210,056 |  |  |  | 2.54 |
Non-compete agreements |  |  | 3,900,000 |  |  |  | 733,495 |  |  |  | 3,166,505 |  |  |  | 2.28 |
Balance as of December 31, 2019 |  | $ | 335,190,752 |  |  | $ | 23,349,951 |  |  | $ | 311,840,801 |  |  |  | 7.90 |
The Company’s amortization expense for intangible assets was $14.4 million and $28.1 million for the three and six months ended June 30, 2020, respectively. The amortization expense for intangible assets was $2.8 million and $5.6 million for the three and six months ended June 30, 2019, respectively. The estimated amortization expense for the next five years and thereafter in the aggregate is as follows:
Year Ending December 31, |  | Estimated Future Amortization Expense |
2020 |  | $ | 28,308,907 |
2021 |  |  | 59,063,840 |
2022 |  |  | 53,076,421 |
2023 |  |  | 28,795,778 |
2024 |  |  | 28,808,700 |
2025 |  |  | 24,833,333 |
Thereafter |  |  | 97,244,585 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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