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GOODWILL AND ACQUIRED INTANGIBLES | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND ACQUIRED INTANGIBLES | GOODWILL AND ACQUIRED INTANGIBLES There have been no changes to the carrying amounts of goodwill since December 31, 2022. The carrying amounts of goodwill for the three months ended March 31, 2023 are as follows (in thousands):
| Cardlytics Platform |  | Bridg Platform |  | Consolidated
Gross goodwill | $ | 210,692 |  |  | $ | 538,271 |  |  | $ | 748,963 |
Accumulated impairments | (46,262) |  |  | (349,980) |  |  | (396,242) |
Net goodwill | $ | 164,430 |  |  | $ | 188,291 |  |  | $ | 352,721 |
Goodwill is tested annually for impairment, unless certain triggering events require an interim impairment analysis, including macroeconomic conditions, industry and market considerations, costs factors, overall financial performance and other relevant entity-specific events and changes. These considerations are evaluated holistically to assess whether it is more likely than not that a reporting unit's carrying value exceeds its fair value. Our reporting units consist of the Cardlytics platform in the U.S., the Cardlytics platform in the U.K. and the Bridg platform. There is no goodwill recorded within the Cardlytics platform in the U.K. We have assessed the triggering events criteria along with related conditions and developments as of March 31, 2023. We have determined that none of the conditions collectively constitute a triggering event. As such, we have determined that it is not more likely than not that the carrying values of our reporting units exceed their respective fair values, and an impairment test was not required as of March 31, 2023. As of June 30, 2022 we determined that it was necessary to perform an interim impairment test for goodwill, in which we recognized goodwill impairment of $83.1 million related to the Bridg platform. Subsequently, we performed our annual impairment test as of October 1, 2022 and determined that the carrying value of both the Cardlytics platform in the U.S. and the Bridg platform exceeded their respective fair values, and we recognized goodwill impairment of $313.1 million as of December 31, 2022. Acquired intangible assets subject to amortization as of March 31, 2023 were as follows:
|  | Gross Carrying Amount (1) |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life
|  | (in thousands) |  | (in years)
Trade name |  | $ | 2,315 |  |  | $ | (1,836) |  |  | $ | 479 |  |  | 0.6
Developed technology |  | 64,070 |  |  | (27,174) |  |  | 36,896 |  |  | 1.0
Merchant relationships |  | 25,915 |  |  | (13,374) |  |  | 12,541 |  |  | 1.3
Total other intangible assets |  | $ | 92,300 |  |  | $ | (42,384) |  |  | $ | 49,916 |  |  |
(1)We recorded an impairment of intangible assets in the amount of $56.4 million as of December 31, 2022. Amortization expense of acquired intangibles during the three months ended March 31, 2022 and 2023 was $7.1 million and $3.5 million, respectively. Acquired intangible assets subject to amortization as of December 31, 2022 were as follows:
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Impairments of Intangible Assets |  | Net |  | Weighted Average Remaining Useful Life
|  | (in thousands) |  | (in years)
Trade name |  | $ | 3,500 |  |  | $ | (1,744) |  |  | $ | (1,185) |  |  | $ | 571 |  |  | 1.4
Developed technology |  | 91,700 |  |  | (24,882) |  |  | (27,630) |  |  | 39,188 |  |  | 3.6
Merchant relationships |  | 40,300 |  |  | (12,301) |  |  | (14,385) |  |  | 13,614 |  |  | 1.7
Partner relationships |  | 2,000 |  |  | (450) |  |  | (1,550) |  |  | — |  |  | 0.0
Card-linked subscriber user base |  | 17,000 |  |  | (5,355) |  |  | (11,645) |  |  | — |  |  | 0.0
Total other intangible assets |  | $ | 154,500 |  |  | $ | (44,732) |  |  | $ | (56,395) |  |  | $ | 53,373 |  |  |
As of March 31, 2023, we expect amortization expense in future periods to be as follows (in thousands):
|  | Amount
2023 (remaining nine months) |  | 10,278 |
2024 |  | 13,269 |
2025 |  | 11,808 |
2026 |  | 9,673 |
2027 |  | 4,888 |
Thereafter |  | — |
Total expected future amortization expense |  | $ | 49,916 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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