Goodwill and Other Intangible Assets, net

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, net

3.	Goodwill and Other Intangible Assets, Net

Goodwill related to our June 15, 2015, acquisition of Hudson Global Resources Management’s U.S. IT staffing business (“Hudson IT”) totaled $8.4 million. Goodwill related to our July 13, 2017, acquisition of the services division of InfoTrellis totaled $27.4 million. During 2018, the Company recorded a goodwill impairment related to the InfoTrellis acquisition of $9.7 million. Goodwill related to our October 1, 2020, acquisition of AmberLeaf totaled $6.4 million.

The Company is amortizing the identifiable intangible assets on a straight-line basis over estimated average lives ranging from 3 to 12 years. Identifiable intangible assets were comprised of the following as of March 31, 2022, and December 31, 2021:


	As of March 31, 2022
(Amounts in thousands)	Amortization Period (In Years)		Gross Carrying Value		Accumulative Amortization		Net Carrying Value
IT Staffing Services:
Client relationships		12	$	7,999	$	4,528	$	3,471
Covenant-not-to-compete		5		319		319		—
Trade name		3		249		249		—
Data and Analytics Services:
Client relationships		12		19,641		6,911		12,730
Covenant-not-to-compete		5		1,201		848		353
Trade name		5		1,711		1,297		414
Technology		7		1,979		979		1,000

Total Intangible Assets			$	33,099	$	15,131	$	17,968


	As of December 31, 2021
(Amounts in thousands)	Amortization Period (In Years)		Gross Carrying Value		Accumulative Amortization		Net Carrying Value
IT Staffing Services:
Client relationships		12	$	7,999	$	4,361	$	3,638
Covenant-not-to-compete		5		319		319		—
Trade name		3		249		249		—
Data and Analytics Services:
Client relationships		12		19,641		6,503		13,138
Covenant-not-to-compete		5		1,201		788		413
Trade name		5		1,711		1,211		500
Technology		7		1,979		908		1,071

Total Intangible Assets			$	33,099	$	14,339	$	18,760

Amortization expense for the three months ended March 31, 2022 and 2021 totaled $792,000 and $793,000, respectively, and is included in selling, general and administrative expenses in the Condensed Consolidated Statement of Operations.

The estimated aggregate amortization expense for intangible assets for the years ending December 31, 2022 through 2026 is as follows:


	Years Ended December 31,
	2022		2023		2024		2025		2026

	(Amounts in thousands)
Amortization expense	$	2,987	$	2,772	$	2,693	$	2,553	$	2,413