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Goodwill and Other Intangible Assets, net
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, net
 
4.
Goodwill and Other Intangible Assets, net
Goodwill related to our June 15, 2015 acquisition of Hudson IT totaled $8.4 million. Goodwill related to our July 13, 2017 acquisition of the services division of InfoTrellis totaled $27.4 million. Goodwill related to our October 1, 2020 acquisition of AmberLeaf totaled $6.4 million. During 2018, the Company recorded a goodwill impairment related to the InfoTrellis acquisition of $9.7 million.
A reconciliation of the beginning and ending amounts of goodwill by operating segment for the three years ended December 31, 2022 is as follows:
 
    
Years Ended December 31,
 
    
2022
    
2021
    
2020
 
    
(Amounts in thousands)
 
IT Staffing Services:
                          
Beginning balance
   $ 8,427      $ 8,427      $ 8,427  
Goodwill recorded
     —          —          —    
Impairment
     —          —          —    
    
 
 
    
 
 
    
 
 
 
Ending balance
   $ 8,427      $ 8,427      $ 8,427  
    
 
 
    
 
 
    
 
 
 
    
Years Ended December 31,
 
    
2022
    
2021
    
2020
 
    
(Amounts in thousands)
 
Data and Analytics Services:
                          
Beginning balance
   $ 24,083      $ 24,083      $ 17,679  
Goodwill recorded
     —          —          6,404  
Impairment
     —          —          —    
    
 
 
    
 
 
    
 
 
 
Ending balance
   $ 24,083      $ 24,083      $ 24,083  
    
 
 
    
 
 
    
 
 
 
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 December 31, 2022 and 2021:
 
   
As of December 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      $ 5,027      $ 2,972  
Covenant-not-to-compete
    5        319        319        —    
Trade name
    3        249        249        —    
         
Data and Analytics Services:
                                  
Client relationships
    12        19,641        8,140        11,501  
Covenant-not-to-compete
    5        1,201        959        242  
Trade name
    5        1,711        1,441        270  
Technology
    7        1,979        1,191        788  
            
 
 
    
 
 
    
 
 
 
Total Intangible Assets
           $ 33,099      $ 17,326      $ 15,773  
            
 
 
    
 
 
    
 
 
 
 
   
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 years ended December 31, 2022, 2021 and 2020 totaled $3.0 mi
llion, $3.2 mill
ion and $2.8 million, respectively and is included in selling, general and administrative expenses in the Consolidated Statement of Operations.
The estimated aggregate amortization expense for intangible assets for the years ending December 31, 2023 through 2027 is as follows:
 
    
Years Ended December 31,
 
    
2023
    
2024
    
2025
    
2026
    
2027
 
    
(Amounts in thousands)
 
Amortization expense
   $ 2,772      $ 2,693      $ 2,553      $ 2,413      $ 2,025