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ACQUIRED INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
ACQUIRED INTANGIBLE ASSETS | ACQUIRED INTANGIBLE ASSETS The following table details acquired intangible assets (in thousands):
| Balance at June 30, 2024
Weighted Average Estimated Useful Life |  | Cost |  | Accumulated Amortization |  | Net
Technology assets | 5 years |  | $ | 391,629 |  |  | $ | (236,447) |  |  | $ | 155,182 |
Customer assets | 15 years |  | 1,463,273 |  |  | (296,870) |  |  | 1,166,403 |
Trade names | 9 years |  | 426,845 |  |  | (125,172) |  |  | 301,673 |
Other | 9 years |  | 13,299 |  |  | (7,374) |  |  | 5,925 |
Total |  |  | $ | 2,295,046 |  |  | $ | (665,863) |  |  | $ | 1,629,183 |
| Balance at December 31, 2023
Weighted Average Estimated Useful Life |  | Cost |  | Accumulated Amortization |  | Net
Technology assets | 5 years |  | $ | 393,511 |  |  | $ | (201,409) |  |  | $ | 192,102 |
Customer assets | 14 years |  | 1,473,970 |  |  | (237,316) |  |  | 1,236,654 |
Trade names | 9 years |  | 428,944 |  |  | (102,774) |  |  | 326,170 |
Other | 9 years |  | 13,299 |  |  | (6,704) |  |  | 6,595 |
Total |  |  | $ | 2,309,724 |  |  | $ | (548,203) |  |  | $ | 1,761,521 |
All intangible assets are amortized over their estimated useful lives. The change in the carrying value of intangible assets was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Acquired intangible assets, net, beginning of the period | $ | 1,673,618 |  |  | $ | 1,949,086 |  |  | $ | 1,761,521 |  |  | $ | 2,014,034 |
Amortization expense | (58,402) |  |  | (55,257) |  |  | (119,711) |  |  | (110,852) |
Foreign currency translation and other adjustments | 13,967 |  |  | (15,591) |  |  | (12,627) |  |  | (24,944) |
Acquired intangible assets, net, end of the period | $ | 1,629,183 |  |  | $ | 1,878,238 |  |  | $ | 1,629,183 |  |  | $ | 1,878,238 |
The estimated future amortization expense of intangible assets as of June 30, 2024 was as follows (in thousands):
Remainder of 2024 | $ | 105,960 |
2025 | 206,929 |
2026 | 192,863 |
2027 | 146,050 |
2028 | 141,880 |
Thereafter | 835,501 |
Total | $ | 1,629,183 |

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