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Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill represents the excess of purchase price and related costs over the value assigned to net tangible and identifiable intangible assets acquired in business combinations.
The following table presents the changes in the carrying amount of goodwill for the years ended December 31, 2022 and 2021 (in thousands):
Balance as of December 31, 2020$286,251 
Goodwill acquired1,334,074 
Measurement period adjustment(198)
Balance as of December 31, 20211,620,127 
Goodwill acquired1,579,936 
Measurement period adjustment892 
Balance as of December 31, 2022$3,200,955 
Intangible Assets, Net
The following tables present details of our intangible assets, excluding goodwill (in thousands, except for weighted-average useful life):
As of December 31, 2022
Weighted-Average
Useful Life
(1)
(In Years)
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Developed technology7.3$1,239,431 $(137,782)$1,101,649 
Customer relationships3.9621,326 (53,243)568,083 
Trademark4.5110,567 (17,273)93,294 
Contractual relationship8.0200,000 (40,792)159,208 
Total intangible assets$2,171,324 $(249,090)$1,922,234 
As of December 31, 2021
Weighted-Average
Useful Life
(1)
(In Years)
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Developed technology8.8$580,204 $(52,811)$527,393 
Customer relationships2.950,171 (16,980)33,191 
Trademark5.760,557 (3,937)56,620 
Contractual relationship8.0200,000 (2,818)197,182 
Total intangible assets$890,932 $(76,546)$814,386 
(1)    Based on weighted-average useful life established as of the acquisition date.
The following table presents the amortization of finite-lived intangible assets included on our consolidated statements of operations (in thousands):
Year Ended December 31,
202220212020
Amortization expense$172,551 $33,483 $17,755 
As of December 31, 2022, the estimated future amortization of finite-lived intangible assets for each of the next five years and thereafter was as follows (in thousands):
2023$394,582 
2024404,639 
2025360,835 
2026307,580 
2027454,598 
Thereafter— 
Total$1,922,234