Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

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Intangible Assets, Net
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net consisted of the following:
December 31, 2023
Gross Accumulated Amortization Net
(in thousands)
Customer relationships $ 429,329  $ (262,064) $ 167,265 
Trade names 105,801  (38,671) 67,130 
Developed software - for internal use 103,518  (64,024) 39,494 
Databases 4,693  (3,261) 1,432 
Biometric screening platform
 23,000  (920) 22,080 
Total intangible assets, net $ 666,341  $ (368,940) $ 297,401 
December 31, 2022
Gross Accumulated Amortization Net
(in thousands)
Customer relationships $ 427,033  $ (213,243) $ 213,790 
Trade names 105,401  (31,620) 73,781 
Developed software - for internal use 92,907  (50,224) 42,683 
Databases 3,876  (2,532) 1,344 
Total intangible assets, net $ 629,217  $ (297,619) $ 331,598 
Total amortization expense for intangible assets was $70.1 million for the years ended December 31, 2023 and $67.1 million, for each of the years ended December 31, 2022, and 2021, respectively. Amortization expense related to developed software was $13.8 million, $11.7 million, and $10.5 million for the years ended December 31, 2023, 2022 and 2021, respectively.
The Company capitalized $16.4 million, $12.1 million, and $7.8 million of software development costs for the years ended December 31, 2023, 2022, and 2021, respectively.
At December 31, 2023 and 2022, the weighted-average remaining useful life of intangible assets subject to amortization was approximately 5.5 years and 5.6 years respectively.
For the year ended December 31, 2022, the Company recorded accelerated depreciation of $0.5 million related to obsolete capitalized software, which was recorded in depreciation and amortization on the consolidated statements of operations. No impairments of intangible assets were recorded for the years ended December 31, 2023, 2022, and 2021.
The estimated future amortization expense related to intangible assets as of December 31, 2023 was as follows:
Year Ended December 31,
(in thousands)
2024 $ 71,058 
2025 67,694 
2026 58,677 
2027 34,597 
2028 11,144 
Thereafter 54,231 
Total amortization $ 297,401