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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

As of June 30, 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 six months ended June 30, 2024.

Intangible assets

Intangible assets consisted of the following:

						As of June 30, 2024
						Cost						Accumulated Amortization						Net
Amortizable intangible assets:						(In thousands)
Developed technology						$	397,473					$	(288,369)					$	109,104
Customer relationships						349,074						(193,460)						155,614
Supplier relationships						49,756						(30,823)						18,933
Trade names						25,968						(24,474)						1,494
Order backlog						10,000						(10,000)						—
Patent						3,968						(1,000)						2,968
Total amortizable intangible assets						836,239						(548,126)						288,113
Non-amortizable intangible assets:
Telecommunication licenses						4,920						—						4,920
Trademarks and other						295						—						295
Total						$	841,454					$	(548,126)					$	293,328

						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 $28.2 million and $50.2 million for the three months ended June 30, 2024 and 2023, respectively, and $57.2 million and $101.1 million for the six months ended June 30, 2024 and 2023, respectively.

Total estimated future amortization expense is as follows:

						As of June 30, 2024
Year Ended December 31,						(In thousands)
2024 (remaining six months)						$	54,880
2025						107,862
2026						42,149
2027						25,330
2028						19,055
Thereafter						38,837
Total						$	288,113

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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