Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

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Intangible Assets, Net
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net consisted of the following:
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 
December 31, 2021
Gross Accumulated Amortization Net
(in thousands)
Customer relationships $ 432,606  $ (167,885) $ 264,721 
Trade names 105,401  (24,594) 80,807 
Developed software - for internal use 80,854  (38,480) 42,374 
Databases 3,392  (1,811) 1,581 
Favorable contracts 1,497  (1,497) — 
Total intangible assets, net $ 623,750  $ (234,267) $ 389,483 
Total amortization expense for intangible assets was $67.1 million, $67.1 million, and $64.9 million for the years ended December 31, 2022, 2021, and 2020, respectively. Amortization expense related to developed software
was $11.7 million, $10.5 million, and $9.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.
The Company capitalized $12.1 million, $7.8 million, and $6.1 million of software development costs for the years ended December 31, 2022, 2021, and 2020, respectively.
At December 31, 2022, the weighted average remaining useful life of intangible assets subject to amortization was approximately 5.6 years.
For the year ended December 31, 2021, 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, 2022, 2021, and 2020.
The estimated future amortization expense related to intangible assets as of December 31, 2022 was as follows:
Year Ended December 31,
(in thousands)
2023 $ 66,772 
2024 66,603 
2025 63,023 
2026 56,361 
2027 30,483 
Thereafter 48,356 
Total amortization $ 331,598