Quarterly report pursuant to Section 13 or 15(d)

Acquisitions, Goodwill and Other Intangible Assets (Tables)

v3.22.2
Acquisitions, Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combinations [Abstract]  
Summary of Goodwill and Intangible Assets, Net
Goodwill and intangible assets, net consisted of the following (in thousands):
 
 
  
June 30, 2022
 
  
December 31, 2021
 
 
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Net Book
Value
 
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Net Book
Value
 
Goodwill and intangible assets:
  
      
  
      
 
      
  
      
  
      
 
      
Goodwill
    $ 38,101      $ —       $ 38,101      $ 34,071      $ —       $ 34,071  
Intangible assets
(1)
     32,444        (12,282 )      20,162        23,974        (9,940 )      14,034  
    
 
 
     
 
 
    
 
 
     
 
 
     
 
 
    
 
 
  
     $ 70,545      $ (12,282 )    $ 58,263      $ 58,045      $ (9,940 )    $ 48,105  
    
 
 
     
 
 
    
 
 
     
 
 
     
 
 
    
 
 
  
 
(1)
Total weighted average amortization period was 4.9 years and 4.4 years as of June 30, 2022 and December 31, 2021, respectively.
Summary of Changes in Carrying Carrying Amount of Goodwill
The changes in the carrying amount of goodwill consisted of the following (in thousands):
 
 
  
Six Months Ended
June 30,
 
 
  
2022
 
  
2021
 
Beginning balance
    $ 34,071      $ 33,375  
Additions from acquisitions
(1)
      4,030        696  
Impairment losses
      —          —    
    
 
 
     
 
 
  
Ending balance
    $ 38,101      $ 34,071  
    
 
 
     
 
 
  
 
(1)
The 2021 addition represents a measurement period adjustment for an acquisition made in 2020.
Schedule of Estimated Amortization Expense for Intangible Assets
Estimated amortization expense for intangible assets by year for the next five years and thereafter consisted of the following (in thousands):
 
     June 30, 2022  
Remainder of 2022
    $ 2,341  
2023
      4,617  
2024
      4,101  
2025
      3,881  
2026
      2,156  
Thereafter
      3,066  
    
 
 
  
     $ 20,162