Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

As of March 31, 2024 and December 31, 2023, the balance of the Company’s goodwill was $5.2 billion, of which $4.9 billion relates to the Communications reportable segment and $306.1 million relates to the Segment reportable segment. There was no goodwill activity during the three months ended March 31, 2024.

Intangible assets

Intangible assets consisted of the following:


	As of March 31, 2024
	Cost		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	397,473	$	(274,167)	$	123,306
Customer relationships	349,074		(182,045)		167,029
Supplier relationships	49,756		(28,586)		21,170
Trade names	25,968		(24,204)		1,764
Order backlog	10,000		(10,000)		—
Patent	3,968		(951)		3,017
Total amortizable intangible assets	836,239		(519,953)		316,286
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920
Trademarks and other	295		—		295
Total	$	841,454	$	(519,953)	$	321,501


	As of December 31, 2023
	Cost		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	397,473	$	(259,635)	$	137,838
Customer relationships	349,074		(170,511)		178,563
Supplier relationships	49,756		(26,316)		23,440
Trade names	25,968		(23,600)		2,368
Order backlog	10,000		(10,000)		—
Patent	3,968		(902)		3,066
Total amortizable intangible assets	836,239		(490,964)		345,275
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920
Trademarks and other	295		—		295
Total	$	841,454	$	(490,964)	$	350,490

Amortization expense was $29.0 million and $50.8 million for the three months ended March 31, 2024 and 2023, respectively.

Total estimated future amortization expense is as follows:


	As of March 31, 2024
Year Ended December 31,	(In thousands)
2024 (remaining nine months)	$	83,053
2025	107,862
2026	42,149
2027	25,330
2028	19,055
Thereafter	38,837
Total	$	316,286