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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | NOTE 4—GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets, net, are as follows:
|  | September 30, 2021 |  | December 31, 2020
|  | (In thousands)
Goodwill |  | $ | 2,427,450 |  |  | $ | 1,270,532 |
Intangible assets with indefinite lives |  | 585,679 |  |  | 226,605 |
Intangible assets with definite lives, net |  | 207,323 |  |  | 4,295 |
Total goodwill and intangible assets, net |  | $ | 3,220,452 |  |  | $ | 1,501,432 |
The following table presents the balance of goodwill, including the changes in the carrying value of goodwill, for the nine months ended September 30, 2021:
| (In thousands)
Balance at December 31, 2020 | $ | 1,270,532 |
Additions | 1,243,331 |
Foreign Exchange Translation | (86,413) |
Balance at September 30, 2021 | $ | 2,427,450 |
On June 17, 2021, Match Group completed the acquisition of all capital stock of Hyperconnect, Inc. (“Hyperconnect”), a leading social discovery and video technology company based in Seoul, South Korea. The acquisition increases our presence in certain Asian markets and enhances the real-time video capabilities of Match Group. The accounting purchase price was $1.75 billion, net of cash acquired, which consists of $863.3 million of cash, net of cash acquired, and 5.9 million shares of Match Group common stock at a basis of the closing market price on the acquisition date. The purchase price has been preliminarily allocated to goodwill of $1.2 billion that is not deductible for tax purposes, intangible assets of $615.0 million with a related deferred tax liability of $135.4 million, and $31.2 million of other net assets. The allocation of the accounting purchase price is preliminary and will be finalized within the allowable measurement period. Intangible assets with indefinite lives consist of trade names and trademarks acquired in various business acquisitions. At September 30, 2021 and December 31, 2020, intangible assets with definite lives are as follows:
|  | September 30, 2021
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted-Average Useful Life (Years)
|  | (In thousands) |  |
Customer lists |  | $ | 128,304 |  |  | $ | (8,406) |  |  | $ | 119,898 |  |  | 4.8
Patents and technology |  | 101,001 |  |  | (13,893) |  |  | 87,108 |  |  | 4.2
Trade names |  | 5,140 |  |  | (4,946) |  |  | 194 |  |  | 1.3
Other |  | 3,426 |  |  | (3,303) |  |  | 123 |  |  | 2.8
Total |  | $ | 237,871 |  |  | $ | (30,548) |  |  | $ | 207,323 |  |  | 4.6
|  | December 31, 2020
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted-Average Useful Life (Years)
|  | (In thousands) |  |
Customer lists |  | $ | 288 |  |  | $ | (288) |  |  | $ | — |  |  | — |
Patents and technology |  | 11,044 |  |  | (6,943) |  |  | 4,101 |  |  | 9.3
Trade names |  | 5,114 |  |  | (5,114) |  |  | — |  |  | — |
Other |  | 3,400 |  |  | (3,206) |  |  | 194 |  |  | 3.0
Total |  | $ | 19,846 |  |  | $ | (15,551) |  |  | $ | 4,295 |  |  | 9.0
At September 30, 2021, future amortization of intangible assets with definite lives is estimated to be as follows:
|  | (In thousands)
Remainder of 2021 |  | $ | 12,832 |
2022 |  | 51,256
2023 |  | 48,989
2024 |  | 47,063
2025 |  | 34,862
2026 and thereafter |  | 12,321
Total |  | $ | 207,323 |

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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