Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The gross carrying amount and accumulated amortization of intangible assets were as follows (in thousands):


		December 31,
		2022						2021
	Useful Life (Years)	Gross Amount		Accumulated Amortization		Net Carrying Amount			Gross Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	5-18	$	109,683	$	(84,130)	$	25,553		$	112,109	$	(80,319)	$	31,790
Software/Technology	3-15	51,028		(28,669)		22,359			52,265		(26,415)		25,850
Covenants not to compete	2-5	12,488		(12,416)		72			12,623		(12,390)		233
Other	2-12	10,389		(9,358)		1,031			10,574		(9,066)		1,508
Total		$	183,588	$	(134,573)	$	49,015		$	187,571	$	(128,190)	$	59,381

As described in Note 8- Goodwill, during the first quarter of 2020, there were negative market indicators that were determined to be triggering events indicating a potential impairment of certain long-lived assets within asset groups in the Services, International, and Products and Systems segments, as well as Corporate and Eliminations. The asset groups are groupings of assets and liabilities determined at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability testing indicated that certain intangible assets and right of use assets (See Note 17-Leases) were potentially impaired. For asset groups that required an impairment measurement, similar to the valuations performed to determine the goodwill impairment, the Company used income and market approaches to estimate the fair value of the long-lived assets, which requires significant judgment in evaluation of the useful lives of the assets, economic and industry trends, estimated future cash flows, discount rates, and other factors. The result of the analysis was an aggregate impairment charge of $28.8 million, which consisted of $25.9 million to software/technology, $2.2 million to customer relationships, $0.5 million to other intangibles and $0.2 million to covenants not to compete, all of which are in the Services reporting unit within the Services segment and are included in Impairment charges on the Consolidated Statements of Income (Loss) for the year ended December 31, 2020.

Amortization expense for the years ended December 31, 2022, 2021 and 2020, was approximately $9.1 million, $9.7 million, and $11.0 million, respectively, including amortization of software/technology for these periods of $2.9 million, $3.0 million, and $3.6 million, respectively.

Amortization expense in each of the five years and thereafter subsequent to December 31, 2022 related to the Company’s intangible assets is expected to be as follows (in thousands):


	Expected Amortization Expense
2023	$	8,915
2024	7,633
2025	5,796
2026	4,988
2027	4,664
Thereafter	17,019
Total	$	49,015