Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

v3.22.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net consisted of the following:
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 
December 31, 2020
Gross Accumulated Amortization Net
(in thousands)
Customer relationships $ 433,410  $ (119,971) $ 313,439 
Trade names 105,401  (17,567) 87,834 
Developed software - for internal use 75,605  (30,611) 44,994 
Databases 2,959  (1,180) 1,779 
Favorable contracts 1,497  (727) 770 
Total intangible assets, net $ 618,872  $ (170,056) $ 448,816 
Total amortization expense for intangible assets was $67.1 million, $64.9 million, and $63.7 million for the years ended December 31, 2021, 2020, and 2019, respectively. Amortization expense related to developed software was $10.5 million, $9.4 million, and $8.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.
The Company capitalized $7.8 million, $6.1 million, and $7.1 million of software development costs for the years ended December 31, 2021, 2020, and 2019, respectively.
At December 31, 2021, the weighted average remaining useful life of intangible assets subject to amortization was approximately 6.5 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, 2021, 2020, and 2019.
The estimated future amortization expense related to intangible assets as of December 31, 2021 was as follows:
Year Ended December 31,
(in thousands)
2022 $ 66,108 
2023 65,939 
2024 65,412 
2025 60,623 
2026 57,063 
Thereafter 74,338 
Total amortization $ 389,483