Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.22.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill
The changes in the carrying amount of goodwill allocated to the origination segment are presented in the following table:
Balance at December 31, 2021 $ 175,144 
Measurement period adjustment(1)
(1,710)
Balance at March 31, 2022 $ 173,434 
______________________________
(1)During the three months ended March 31, 2022, we recorded a measurement period adjustment which included a decrease to goodwill of $1.7 million and an increase to income tax receivable of $1.7 million. This adjustment did not impact the Company's statement of income.
Intangible Assets
The following table presents our intangible assets, net as of March 31, 2022:
  Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (Years)
Referral network $ 42,300  $ 5,287  $ 37,013  4.9
Non-compete agreements 2,700  675  2,025  0.1
  $ 45,000  $ 5,962  $ 39,038  5.1
Amortization expense related to intangible assets was $2.0 million for the three months ended March 31, 2022.