Our acquisitions have resulted in the recording of goodwill and other identifiable intangible assets. Goodwill is an asset representing operational synergies and future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets consist of internally developed software, domain names and other identifiable intangible assets, such as trade names, developed technologies, and customer relationships related to the acquisitions the Company has completed. The changes in goodwill and intangible assets are as follows:


	Goodwill		Trade Names		Developed Technologies		Customer Relationships		Domain Names		Internally Developed Software		Total Intangible Assets, net
($ in thousands)	Unamortized		Unamortized		Amortized		Amortized		Amortized		Amortized
Net balance as of September 30, 2024	$	336,602	$	149,921	$	3,964	$	46,403	$	1,750	$	3,353	$	205,391
Acquisitions and additions during the six months ended March 31, 2025	—		—		—		—		—		757		757
Other adjustments during the six months ended March 31, 2025	—		—		—		—		(28)		—		(28)
Accumulated amortization for the six months ended March 31, 2025	—		—		(269)		(3,049)		(317)		(634)		(4,269)
Net balance as of March 31, 2025	$	336,602	$	149,921	$	3,695	$	43,354	$	1,405	$	3,476	$	201,851

Amortization expense is recorded in depreciation and amortization expense in the unaudited condensed consolidated statements of operations and was $2.1 million for the three months ended March 31, 2025 and 2024, which includes amortization expense of $0.3 million for the three months ended March 31, 2025 and 2024, for internally developed software. Amortization expense was $4.3 million and $3.7 million for the six months ended March 31, 2025 and 2024, respectively, which includes amortization expense of $0.6 million and $0.5 million for the six months ended March 31, 2025 and 2024, respectively, for internally developed software. For internally developed software acquisitions and additions during the six months ended March 31, 2025, the weighted average useful life is 4.2 years.

As of March 31, 2025 and September 30, 2024, the carrying value of goodwill totaled $336.6 million, of which $295.3 million was related to our Dealerships reporting segment and $41.3 million was related to our Distribution reporting segment.