| Schedule of components of intangible assets |
The following table provides the components of the Company’s intangible assets (in thousands, except weighted average amortization period in years): | | | | | | | | | | | | | | | | | | | | | | | | | Weighted | | | | | | | | | | | | | | | | | | | | | | Average | | As of June 30, 2025 | | As of December 31, 2024 | | | | Amortization | | Initial | | Accumulated | | Net | | Initial | | Accumulated | | Net | | | | Period | | Cost | | Amortization | | Balance | | Cost | | Amortization | | Balance | Franchise agreements | | | 11.9 | | $ | 224,208 | | $ | (149,368) | | $ | 74,840 | | $ | 222,055 | | $ | (140,869) | | $ | 81,186 | Other intangible assets: | | | | | | | | | | | | | | | | | | | | | | Software (a) | | | 3.4 | | $ | 59,839 | | $ | (50,149) | | $ | 9,690 | | $ | 57,243 | | $ | (46,829) | | $ | 10,414 | Trademarks | | | 9.7 | | | 915 | | | (726) | | | 189 | | | 900 | | | (684) | | | 216 | Non-compete agreements | | | 5.0 | | | 12,915 | | | (10,990) | | | 1,925 | | | 12,721 | | | (9,969) | | | 2,752 | Training materials | | | — | | | — | | | — | | | — | | | 2,400 | | | (2,400) | | | — | Other | | | — | | | — | | | — | | | — | | | 870 | | | (870) | | | — | Total other intangible assets | | | 4.0 | | $ | 73,669 | | $ | (61,865) | | $ | 11,804 | | $ | 74,134 | | $ | (60,752) | | $ | 13,382 |
| (a) | As of June 30, 2025 and December 31, 2024, capitalized software development costs of $2.0 million and $1.2 million, respectively, were related to technology projects not yet complete and ready for their intended use and thus were not subject to amortization. |
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| Schedule of estimated future amortization of intangible assets, other than goodwill |
As of June 30, 2025, the estimated future amortization expense related to intangible assets includes the estimated amortization expense associated with the Company’s intangible assets assumed with the Company’s acquisitions (in thousands): | | | | Remainder of 2025 | | $ | 11,516 | 2026 | | | 17,810 | 2027 | | | 10,696 | 2028 | | | 8,883 | 2029 | | | 7,145 | Thereafter | | | 30,594 | | | $ | 86,644 |
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| Schedule of changes to goodwill |
The following table presents changes to goodwill at the Real Estate reporting unit (in thousands): | | | | | | Real Estate | Balance, January 1, 2025 | | $ | 237,239 | Effect of changes in foreign currency exchange rates | | | 2,309 | Balance, June 30, 2025 | | $ | 239,548 |
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