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Goodwill

3 Months Ended

Mar. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

6. Goodwill

The following table sets forth the changes in the carrying amount of goodwill for the three months ended March 31, 2021 (in thousands):


Balance as of December 31, 2020 (1)	$	785,305
BMC Merger		1,751,604
Balance as of March 31, 2021 (1)	$	2,536,909

(1)

Goodwill is presented net of accumulated impairment losses of $44.6 million.

In 2021, the change in the carrying amount of goodwill is attributable to the BMC Merger. As a result of the change in segments discussed in Note 1 to these condensed consolidated financial statements, the Company has determined that the reporting units used in the analysis of goodwill impairment should align with its three operating segments. As of March 31, 2021, no triggering events have occurred. The amount allocated to goodwill is attributable to the assembled workforce of BMC as well as expected growth from the expanded product and service offerings. The goodwill recognized from the BMC Merger will not be deductible for tax purposes.