GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

As of December 31, 2023 and 2022, goodwill and other intangible assets consisted of the following:


	2023		2022

	(in thousands)

Goodwill	$	26,743,523	$	23,320,736
Other intangible assets:
Customer-related intangible assets	$	10,653,036	$	9,524,922
Acquired technologies	3,005,576		2,863,731
Contract-based intangible assets	2,254,273		1,741,321
Trademarks and trade names	1,074,631		1,067,745
	16,987,516		15,197,719
Less accumulated amortization:
Customer-related intangible assets	3,866,686		3,155,838
Acquired technologies	2,047,330		1,692,762
Contract-based intangible assets	309,886		197,478
Trademarks and trade names	595,568		493,267
	6,819,470		5,539,345
	$	10,168,046	$	9,658,374

The following table sets forth the changes by reportable segment in the carrying amount of goodwill for the years ended December 31, 2023, 2022 and 2021:


	Merchant Solutions		Issuer Solutions		Consumer Solutions		Total

	(in thousands)

Balance at December 31, 2020	$	13,548,690	$	9,481,183	$	841,578	$	23,871,451
Goodwill acquired	557,044		431,797		—		988,841
Effect of foreign currency translation	(36,192)		(4,826)		—		(41,018)
Measurement-period adjustments	(5,860)		(140)		—		(6,000)
Balance at December 31, 2021	14,063,682		9,908,014		841,578		24,813,274
Goodwill acquired	3,296		—		—		3,296
Effect of foreign currency translation	(66,251)		(29,009)		—		(95,260)
Goodwill derecognized in connection with the sale of a business (1)	(17,719)		—		—		(17,719)
Impairment of goodwill (2)	—		—		(833,075)		(833,075)
Reallocation of accumulated impairment losses due to change in reporting units (2)	—		(357,933)		357,933		—
Reclassification of goodwill to assets held for sale (3)	(163,105)		—		(366,436)		(529,541)
Measurement-period adjustments	(2,958)		(17,281)		—		(20,239)
Balance at December 31, 2022	13,816,945		9,503,791		—		23,320,736
Goodwill acquired	3,283,285		—		—		3,283,285
Effect of foreign currency translation	126,835		12,904		—		139,739
Measurement-period adjustments	(237)		—		—		(237)
Balance at December 31, 2023	$	17,226,828	$	9,516,695	$	—	$	26,743,523

(1) Reflects goodwill derecognized in connection with the sale of our Merchant Solutions business in Russia. See “Note 3—Business Dispositions” for further discussion.

(2) Reflects a goodwill impairment charge related to our former Business and Consumer Solutions reporting unit. In connection with the change in presentation of segment information during the year ended December 31, 2022, accumulated impairment losses associated with our former Business and Consumer Solutions reporting unit were reallocated to our new reporting units based on relative fair value. See "Note 1— Summary of Significant Accounting Policies" for further discussion.

(3) Reflects the reclassification of goodwill in connection with the presentation of the consumer and gaming businesses as held for sale. See “Note 3—Business Dispositions” for further discussion.

Accumulated impairment losses for goodwill as of December 31, 2023 were $357.9 million. Accumulated impairment losses for goodwill as of December 31, 2022 were $833.1 million, of which $475.2 million related to assets held for sale.

Customer-related intangible assets, acquired technologies, contract-based intangible assets, and trademarks and trade names acquired during the year ended December 31, 2023 had weighted-average amortization periods of 10.8 years, 6.3 years, 12.0 years, and 2.0 years, respectively. Customer-related intangible assets, acquired technologies, contract-based intangible assets, and trademarks and trade names acquired during the year ended December 31, 2021 had weighted-average amortization periods of 11.9 years, 6.0 years, 18.5 years, and 15.0 years, respectively. Amortization expense of acquired intangibles was $1,318.5 million for the year ended December 31, 2023, $1,263.0 million for the year ended December 31, 2022 and $1,295.0 million for the year ended December 31, 2021.

The estimated amortization expense of acquired intangibles as of December 31, 2023 for the next five years, calculated using the currency exchange rate at the date of acquisition, if applicable, is as follows (in thousands):


2024	$	1,348,934
2025	1,268,360
2026	1,121,414
2027	890,245
2028	820,752