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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill, by segment | Goodwill consisted of the following:
| As of March 31, |  | As of December 31,
(in thousands) | 2024 |  | 2023 |  | 2023
North America | $ | 101,496 |  |  | $ | 103,570 |  |  | $ | 101,558 |
Europe | 390,026 |  |  | 395,903 |  |  | 399,693 |
Asia/Pacific | 1,245 |  |  | 1,276 |  |  | 1,299 |
Total | $ | 492,767 |  |  | $ | 500,749 |  |  | $ | 502,550 |
Schedule of net intangible assets, by segment | Intangible assets, net, consisted of the following:
| As of March 31, 2024
| Gross |  |  |  | Net
| Carrying |  | Accumulated |  | Carrying
(in thousands) | Amount |  | Amortization |  | Amount
North America | $ | 64,189 |  |  | $ | (34,505) |  |  | $ | 29,684 |
Europe | 377,408 |  |  | (58,263) |  |  | 319,145 |
Asia/Pacific | 4,077 |  |  | (379) |  |  | 3,698 |
Total | $ | 445,674 |  |  | $ | (93,147) |  |  | $ | 352,527 |
| As of March 31, 2023
| Gross |  |  |  | Net
(in thousands) | Carrying Amount |  | Accumulated Amortization |  | Carrying Amount
North America | $ | 53,353 |  |  | $ | (30,744) |  |  | $ | 22,609 |
Europe | 378,158 |  |  | (38,824) |  |  | 339,334 |
Asia/Pacific | 4,179 |  |  | — |  |  | 4,179 |
Total | $ | 435,690 |  |  | $ | (69,568) |  |  | $ | 366,122 |
| As of December 31, 2023
| Gross |  |  |  | Net
(in thousands) | Carrying Amount |  | Accumulated Amortization |  | Carrying Amount
North America | $ | 64,190 |  |  | $ | (33,740) |  |  | $ | 30,450 |
Europe | 384,432 |  |  | (53,493) |  |  | 330,939 |
Asia/Pacific | 4,240 |  |  | (290) |  |  | 3,950 |
Total | $ | 452,862 |  |  | $ | (87,523) |  |  | $ | 365,339 |
Schedule of estimated future amortization of intangible assets | At March 31, 2024, the estimated future amortization of definite-lived intangible assets was as follows:
(in thousands) |
Remaining nine months of 2024 | $ | 21,568 |
2025 | 22,097 |
2026 | 21,428 |
2027 | 21,292 |
2028 | 20,982 |
2029 | 21,015 |
Thereafter | 131,721 |
| $ | 260,103 |
Changes in the carrying amount of goodwill and intangible assets | The changes in the carrying amount of goodwill and intangible assets for the three months ended March 31, 2024, were as follows:
|  |  | Intangible
(in thousands) | Goodwill |  | Assets
Balance at December 31, 2023 | $ | 502,550 |  |  | $ | 365,339 |
Amortization | — |  |  | (5,624) |
Foreign exchange | (9,783) |  |  | (7,188) |
Balance at March 31, 2024 | $ | 492,767 |  |  | $ | 352,527 |

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