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Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill |
8. | INTANGIBLE ASSETS AND GOODWILL
Intangible assets The Company’s finite-lived intangible assets are summarized as follows (in thousands):
|  | December 31, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted-Average Remaining Useful Life (Years) |
Developed technology |  | $ | 157,130 |  |  | $ | (41,968 | ) |  | $ | 115,162 |  |  |  | 5.1 |
Customer relationships |  |  | 66,350 |  |  |  | (18,559 | ) |  |  | 47,791 |  |  |  | 4.9 |
Total |  | $ | 223,480 |  |  | $ | (60,527 | ) |  | $ | 162,953 |  |  |  | 5.1 |
|  | December 31, 2021 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted-Average Remaining Useful Life (Years) |
Developed technology |  | $ | 157,773 |  |  | $ | (16,013 | ) |  | $ | 141,760 |  |  |  | 6.0 |
Customer relationships |  |  | 66,350 |  |  |  | (6,133 | ) |  |  | 60,217 |  |  |  | 5.7 |
Total |  | $ | 224,123 |  |  | $ | (22,146 | ) |  | $ | 201,977 |  |  |  | 5.9 |
The Company estimates that there is no significant residual value related to its intangible assets. Intangible assets amortization expense is summarized as follows (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Cost of revenue |  | $ | 22,428 |  |  | $ | 7,522 |  |  | $ | 3,315 |
Sales and marketing |  |  | 12,425 |  |  |  | 3,600 |  |  |  | 1,728 |
Research and development |  |  | 3,528 |  |  |  | 2,674 |  |  |  | 721 |
Total amortization of acquired intangible assets |  | $ | 38,381 |  |  | $ | 13,796 |  |  | $ | 5,764 |
The following table outlines the estimated future amortization expense related to finite-lived intangible assets (in thousands):
Years Ending December 31, |  |  |  |
2023 |  | $ | 37,033 |
2024 |  |  | 36,816 |
2025 |  |  | 33,373 |
2026 |  |  | 18,692 |
2027 |  |  | 17,797 |
Thereafter |  |  | 19,242 |
Total |  | $ | 162,953 |
Goodwill The following table presents the changes in carrying amount of goodwill (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Beginning balance |  | $ | 540,922 |  |  | $ | 125,966 |
Additions |  |  | - |  |  |  | 415,482 |
Other adjustments, net (1) |  |  | (1,794 | ) |  |  | (526 | )
Ending balance |  | $ | 539,128 |  |  | $ | 540,922 |
| (1) | Includes post-closing working capital adjustments and the effect of foreign currency translation
The additions to goodwill in 2021 were due to the acquisitions of Levelset, LaborChart, and Indus, as disclosed in Note 7 to the consolidated financial statements. There was no impairment of goodwill during any period presented.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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