3. GOODWILL AND INTANGIBLE ASSETS-NET

The following is the summary of the carrying amount of goodwill for the six months ended June 30, 2023 and the year ended December 31, 2022:

  SCHEDULE OF INTANGIBLE ASSETS AND GOODWILL

Intangible assets – net as of June 30, 2023 and December 31, 2022 consist of the following:

  SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS

Capitalized software represents payroll and development costs incurred for internally developed software. Other intangible assets primarily represent purchased intangibles. Amortization expense was approximately $5.4 million and $4.9 million for the six months ended June 30, 2023 and 2022. The weighted-average amortization period is three years.

As of June 30, 2023, future amortization scheduled to be expensed is as follows:

  SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE