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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract] |
Summary of business combination assets acquired liabilities assumed | The following table presents the allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of May 16, 2023 (in thousands):
Purchase Price |  |  |  |
Cash paid |  | $ | 1,307,978 |
Less: cash acquired |  |  | (25,624 | )
Net cash consideration |  |  | 1,282,354 |
Identifiable Net Assets (Liabilities) Acquired |  |  |  |
Accounts receivable |  |  | 20,099 |
Inventory |  |  | 14,706 |
Deferred tax assets |  |  | 11,335 |
Prepaid and other assets |  |  | 1,096 |
Property, plant and equipment |  |  | 9,056 |
Operating lease assets |  |  | 5,204 |
Intangible assets |  |  | 418,100 |
Accounts payable and accrued expenses |  |  | (31,664 | )
Operating lease liabilities |  |  | (5,204 | )
Tax liabilities |  |  | (3,917 | )
Deferred revenue |  |  | (15,219 | )
Other liabilities |  |  | (5,728 | )
Total identifiable net assets acquired |  |  | 417,864 |
Goodwill |  |  | 864,490 |
Cash consideration paid |  | $ | 1,282,354 |
Summary of the purchase price allocated to the intangible assets acquired and the estimated useful lives | The details of the purchase price allocated to the intangible assets acquired and the estimated useful lives are as follows (dollars in thousands):
|  | Amount |  |  | Weighted-Average Life |
Developed technology |  | $ | 80,000 |  |  |  | 10 years |
Customer relationships |  |  | 330,600 |  |  |  | 10 years |
Trade name |  |  | 7,500 |  |  |  | 5 years |
Total |  |  | $418,100 |  |  |  |  |
Summary of Business Acquisition Pro Forma Information | The following unaudited pro forma information shows the results of the Company’s operations for the twelve months ended December 31, 2023 and 2022, as if the acquisition had occurred on January 1, 2022 (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Revenue |  | $ | 2,995,001 |  |  | $ | 3,086,281 |
Net income |  |  | 658,431 |  |  |  | 651,869 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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