Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2021
Goodwill and Other Intangible Assets.  
Goodwill and Other Intangible Assets

6.Goodwill and Other Intangible Assets

Goodwill

Changes in the carrying amount of goodwill were as follows:

(in thousands)

Total

Balance as of December 31, 2019

$

26,357

Additions

7,589

Measurement Period Adjustment

639

Balance as of December 31, 2020

34,585

Current Period Changes

-

Balance as of December 31, 2021

$

34,585

Our goodwill is not deductible for federal income tax purposes. See Note. 4. Acquisitions.

Intangible Assets

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

(in thousands)

    

December 31, 

    

2021

    

2020

Gross Value

$

365,032

$

365,032

Accumulated Amortization

(60,102)

(27,497)

Net Carrying Value

$

304,930

$

337,535

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, 2021:

(in thousands)

    

Amount

2022

$

36,735

2023

37,404

2024

36,888

2025

35,050

2026

31,958

Thereafter

126,895

Amortization expense was $32.6 million, $20.4 million and $6.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.