Goodwill and Intangibles
|3 Months Ended|
Mar. 31, 2023
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangibles||Goodwill and Intangibles
The goodwill balance was $1,235.0 million and $1,233.2 million at March 31, 2023 and December 31, 2022, respectively. The $1.8 million change in goodwill for the three months ended March 31, 2023 was related to a business acquisition during the first quarter of 2023.
Intangible assets consisted of the following:
Other intangible assets at March 31, 2023 and December 31, 2022 include a facility license as well as trade names and customer relationships associated with our race registration and timing businesses. The facility license is associated with an outdoor enthusiast and bicycling event, which was acquired during the year ended December 31, 2021 for approximately $10.2 million, of which approximately $1.1 million was paid during the three months ended March 31, 2023. This license expires in April 2031. The transaction was accounted for as an asset acquisition, and the associated 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 three months ended March 31, 2023 and 2022 was $0.3 million and $0.5 million, respectively. Amortization expense associated with intangible assets is included in Depreciation and amortization in our condensed consolidated statements of operations.
There were no goodwill or intangible asset impairment charges recorded during the three months ended March 31, 2023 and 2022.
No definition available.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef