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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill, by segment | Goodwill consisted of the following:
| As of September 30, |  | As of December 31,
(in thousands) | 2023 |  | 2022 |  | 2022
North America | $ | 101,487 |  |  | $ | 96,087 |  |  | $ | 103,572 |
Europe | 380,699 |  |  | 370,669 |  |  | 390,799 |
Asia/Pacific | 1,227 |  |  | 1,234 |  |  | 1,301 |
Total | $ | 483,413 |  |  | $ | 467,990 |  |  | $ | 495,672 |
Schedule of net intangible assets, by segment | ntangible assets, net, consisted of the following:
| As of September 30, 2023
| Gross |  |  |  | Net
| Carrying |  | Accumulated |  | Carrying
(in thousands) | Amount |  | Amortization |  | Amount
North America | $ | 64,189 |  |  | $ | (32,876) |  |  | $ | 31,313 |
Europe | 369,827 |  |  | (48,510) |  |  | 321,317 |
Asia/Pacific | 4,025 |  |  | (205) |  |  | 3,820 |
Total | $ | 438,041 |  |  | $ | (81,591) |  |  | $ | 356,450 |
| As of September 30, 2022
| Gross |  |  |  | Net
(in thousands) | Carrying Amount |  | Accumulated Amortization |  | Carrying Amount
North America | $ | 46,717 |  |  | $ | (28,922) |  |  | $ | 17,795 |
Europe | 342,407 |  |  | (29,669) |  |  | 312,738 |
Total | $ | 389,124 |  |  | $ | (58,591) |  |  | $ | 330,533 |
| As of December 31, 2022
| Gross |  |  |  | Net
(in thousands) | Carrying Amount |  | Accumulated Amortization |  | Carrying Amount
North America | $ | 53,498 |  |  | $ | (29,782) |  |  | $ | 23,716 |
Europe | 373,538 |  |  | (34,337) |  |  | 339,201 |
Total | $ | 427,036 |  |  | $ | (64,119) |  |  | $ | 362,917 |
Schedule of estimated future amortization of intangible assets | At September 30, 2023, the estimated future amortization of definite-lived intangible assets was as follows:
(in thousands) |
Remaining three months of 2023 | $ | 5,699 |
2024 | 22,303 |
2025 | 22,086 |
2026 | 21,967 |
2027 | 21,774 |
2028 | 21,515 |
Thereafter | 150,674 |
| $ | 266,018 |
Changes in the carrying amount of goodwill and intangible assets | The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2023, were as follows:
|  |  | Intangible
(in thousands) | Goodwill |  | Assets
Balance at December 31, 2022 | $ | 495,672 |  |  | $ | 362,917 |
Acquisition1 | (2,077) |  |  | 14,916 |
Disposal | (5,678) |  |  | — |
Amortization | — |  |  | (17,517) |
Foreign exchange | (4,504) |  |  | (3,866) |
Balance at September 30, 2023 | $ | 483,413 |  |  | $ | 356,450 |

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