XML 29 R16.htm IDEA: XBRL DOCUMENT v3.24.3
Acquired Intangible Assets and Goodwill
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Intangible Assets and Goodwill Acquired Intangible Assets and Goodwill
Acquired intangible assets that are subject to amortization consisted of the following as of September 30, 2024 and December 31, 2023 (in thousands):

 September 30, 2024December 31, 2023
 Gross
Carrying
Amount
Accumulated AmortizationNet
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Completed technologies$464,874 $(214,054)$250,820 $354,539 $(196,572)$157,967 
Customer-related intangible assets603,393 (301,524)301,869 616,267 (273,758)342,509 
Trademarks and trade names15,342 (10,193)5,149 14,659 (9,117)5,542 
Acquired license rights34,810 (6,401)28,409 34,810 (4,685)30,125 
Total$1,118,419 $(532,172)$586,247 $1,020,275 $(484,132)$536,143 

During the third quarter of 2024, the Company recorded an impairment charge of $23.7 million related to completed technologies and customer-related acquired intangible assets whose values were no longer supported by future cash flows. See Note 8 for further discussion. Based on the Company’s acquired intangible assets as of September 30, 2024, aggregate expense related to amortization of acquired intangible assets is expected to be $24.1 million for the remainder of 2024, and $92.3 million, $85.1 million, $70.4 million and $63.3 million for 2025, 2026, 2027 and 2028, respectively.

The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows (in thousands):

Balance as of January 1, 2024$2,850,470 
Acquisition of Noname Security
303,197 
Measurement period adjustments related to acquisitions completed in prior years18 
Foreign currency translation666 
Balance as of September 30, 2024$3,154,351 

The Company tests goodwill for impairment at least annually. Through the date the interim condensed consolidated financial statements were issued, no triggering events have occurred that would indicate that a potential impairment exists.