Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.22.4
Intangible Assets
12 Months Ended
Dec. 31, 2022
Goodwill and Other Intangible Assets.  
Goodwill and Other Intangible Assets

6.Intangible Assets

All our intangible assets are subject to amortization and substantially all are related to customer contracts acquired through acquisitions. The components of the intangible assets are as follows:

(in thousands)

    

December 31, 

    

2022

2021

Gross Value

$

366,683

$

365,032

Accumulated Amortization

(96,838)

(60,102)

Net Carrying Value

$

269,845

$

304,930

Substantially all the net carrying value of our intangible assets is attributable to contracts that expire in 2035. The table below shows the expected amortization of intangibles as of December 31, 2022:

(in thousands)

    

Amount

2023

$

37,569

2024

37,053

2025

35,215

2026

32,123

2027

27,893

Thereafter

99,992

Amortization expense totaled $36.7 million, $32.6 million, and $20.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.