Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

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