GOODWILL AND OTHER INTANGIBLES
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLES GOODWILL AND OTHER INTANGIBLES
Goodwill represents the excess of the purchase price over the identifiable net assets of businesses acquired through business combinations accounted for under the acquisition method. Goodwill is reviewed for impairment annually as of October 31 and between annual tests when events and circumstances indicate that impairment may have occurred. There was no goodwill impairment for the three and six months ended June 30, 2023 and 2022.

Other intangibles, net represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. We have one intangible asset which is being amortized on a straight-line basis over twenty years.
The components of Other intangibles, net as of June 30, 2023 and December 31, 2022 were as follows:
(amounts in thousands)Expected Useful LifeJune 30,
2023		December 31,
2022
Customer relationships – universities20 years$6,402 $6,402 
Accumulated amortization(2,133)(1,973)
Total$4,269 $4,429 

Other intangibles, net, includes assets subject to amortization that are reviewed for impairment under FASB ASC 360, Property, Plant and Equipment. Amortization is recorded in Other expense on the unaudited Consolidated Statements of (Loss) Income. BMTX recorded amortization expense of $0.1 million and $0.2 million for the three and six months ended June 30, 2023, respectively. BMTX recorded amortization expense of $0.1 million and $0.2 million for the three and six months ended June 30, 2022, respectively.
The customer relationships - universities will be amortized in future periods as follows:
Remainder of 2023$160 
2024320 
2025320 
2026320 
2027320 
After 20272,829 
Total$4,269 
There was no impairment for Other intangibles, net, for the three and six months ended June 30, 2023 and 2022.