Goodwill and Intangibles
|12 Months Ended|
Dec. 31, 2022
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangibles||Goodwill and Intangibles
The goodwill balance was $1,233.2 million at both December 31, 2022 and December 31, 2021. There were no changes in the carrying amount of goodwill during the years ended December 31, 2022 and December 31, 2021.
Intangible assets consisted of the following:
Other intangible assets at both December 31, 2022 and 2021 include a facility license as well as trade names and customer relationships associated with our race registration and timing businesses.
During the year ended December 31, 2021, we acquired a facility license associated with an outdoor enthusiast and bicycling event for approximately $10.2 million, of which approximately $1.1 million was included in Accrued expenses and other current liabilities on our consolidated balance sheets as of December 31, 2022 and which was subsequently paid in February 2023. This license expires in April 2031. The transaction was accounted for as an asset acquisition. The facility license costs are being amortized on a straight-line basis over its estimated useful life of 9.8 years.
Amortization expense associated with intangible assets for the years ended December 31, 2022, 2021 and 2020 was $1.5 million, $1.3 million and $3.8 million, respectively. Amortization of intangible assets is included in Depreciation and amortization in our consolidated statements of operations.
As of December 31, 2022, the expected remaining amortization associated with intangible assets for the next five years was as follows:
No definition available.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef