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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill are as follows:
Balance, December 31, 2021 | $ | 1,588,477 |
Acquisitions | 658,806 |
Foreign currency translation adjustments | (8,426) |
Other adjustments | (1,673) |
Balance, December 31, 2022 | 2,237,184 |
Acquisitions | 19,934 |
Foreign currency translation adjustments | 11,732 |
Other adjustments | 486 |
Balance, December 31, 2023 | $ | 2,269,336 |
Goodwill consists of the excess of cost over the fair value of net assets acquired in business combinations. Goodwill is not amortized, but instead is tested annually for impairment on October 1, or more frequently if events occur or circumstances change that would more likely than not reduce its fair value below its carrying amount. The Company allocates goodwill to reporting units on a relative fair value basis. In testing for goodwill impairment, the Company may first qualitatively assess whether it is more likely than not (a likelihood of more than 50 percent) that a goodwill impairment exists. If it is determined that a quantitative assessment is required and the carrying amount exceeds its fair value, the Company will recognize goodwill impairment in the amount in which the carrying amount of the reporting unit exceeds its fair value, but not to exceed the carrying amount of goodwill within the reporting unit. There was no impairment of goodwill as a result of the Company’s annual impairment assessments conducted for the years ended December 31, 2023, 2022, or 2021. Details of intangible assets other than goodwill are as follows:
|  |  | December 31, 2023 |  | December 31, 2022
| Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |
Software and technology | 3-5 years |  | $ | 89,693 |  |  | $ | (59,045) |  |  | $ | 30,648 |  |  | $ | 92,390 |  |  | $ | (51,938) |  |  | $ | 40,452 |
Customer relationships | 3-10 years |  | 323,442 |  |  | (142,378) |  |  | 181,064 |  |  | 323,164 |  |  | (114,387) |  |  | 208,777 |
Trademarks | 3-10 years |  | 70,710 |  |  | (33,709) |  |  | 37,001 |  |  | 69,803 |  |  | (26,904) |  |  | 42,899 |
Non-compete agreements | 5 years |  | 350 |  |  | (276) |  |  | 74 |  |  | 350 |  |  | (207) |  |  | 143 |
Total intangible assets |  |  | $ | 484,195 |  |  | $ | (235,408) |  |  | $ | 248,787 |  |  | $ | 485,707 |  |  | $ | (193,436) |  |  | $ | 292,271 |
The aggregate amortization expense for purchased intangible assets with finite lives was reflected in the Company’s consolidated statements of operations as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Cost of subscriptions and licenses | $ | 12,704 |  |  | $ | 12,478 |  |  | $ | 8,125 |
Amortization of purchased intangibles | 38,515 |  |  | 41,114 |  |  | 25,601 |
Total amortization expense | $ | 51,219 |  |  | $ | 53,592 |  |  | $ | 33,726 |
Intangible assets arise from acquisitions and principally consist of goodwill, trademarks, customer relationships, in‑process research and development, and acquired software and technology. Intangible assets, other than goodwill and in‑process research and development, are amortized on a straight‑line basis over their estimated useful lives. Amortization expense for the years following December 31, 2023 are estimated as follows:
2024 | $ | 46,582 |
2025 | 43,494 |
2026 | 35,125 |
2027 | 27,972 |
2028 | 27,276 |
Thereafter | 68,338 |
| $ | 248,787 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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