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Goodwill and Other Intangible Assets, net | 6 Months Ended
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Jun. 30, 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 June 30, 2022 and December 31, 2021:
|  | As of June 30, 2022 |
(Amounts in thousands) |  | Amortization Period (In Years) |  |  | Gross Carrying Value |  |  | Accumulative Amortization |  |  | Net Carrying Value |
IT Staffing Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Client relationships |  |  | 12 |  |  | $ | 7,999 |  |  | $ | 4,694 |  |  | $ | 3,305 |
Covenant-not-to-compete |  |  | 5 |  |  |  | 319 |  |  |  | 319 |  |  |  | — |
Trade name |  |  | 3 |  |  |  | 249 |  |  |  | 249 |  |  |  | — |
Data and Analytics Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Client relationships |  |  | 12 |  |  |  | 19,641 |  |  |  | 7,322 |  |  |  | 12,319 |
Covenant-not-to-compete |  |  | 5 |  |  |  | 1,201 |  |  |  | 908 |  |  |  | 293 |
Trade name |  |  | 5 |  |  |  | 1,711 |  |  |  | 1,382 |  |  |  | 329 |
Technology |  |  | 7 |  |  |  | 1,979 |  |  |  | 1,049 |  |  |  | 930 |
Total Intangible Assets |  |  |  |  |  | $ | 33,099 |  |  | $ | 15,923 |  |  | $ | 17,176 |
|  | 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 and six month periods ended June 30, 2022 totaled $792,000 and $1.6 million, respectively and is included in selling, general and administrative expenses in the Consolidated Statement of Operations. For the three and six month periods ended June 30, 2021, amortization expense was $793,000 and $1.6 million, respectively. 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 |

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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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