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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill, by segment | Goodwill consisted of the following:
| As of June 30, |  | As of December 31,
(in thousands) | 2024 |  | 2023 |  | 2023
North America | $ | 109,949 |  |  | $ | 103,630 |  |  | $ | 101,558 |
Europe | 386,768 |  |  | 390,172 |  |  | 399,693 |
Asia/Pacific | 1,273 |  |  | 1,263 |  |  | 1,299 |
Total | $ | 497,990 |  |  | $ | 495,065 |  |  | $ | 502,550 |
Schedule of net intangible assets, by segment | Intangible assets, net, consisted of the following:
| As of June 30, 2024
| Gross |  |  |  | Net
| Carrying |  | Accumulated |  | Carrying
(in thousands) | Amount |  | Amortization |  | Amount
North America | $ | 72,438 |  |  | $ | (35,390) |  |  | $ | 37,048 |
Europe | 374,748 |  |  | (62,990) |  |  | 311,758 |
Asia/Pacific | 4,157 |  |  | (467) |  |  | 3,690 |
Total | $ | 451,343 |  |  | $ | (98,847) |  |  | $ | 352,496 |
| As of June 30, 2023
| Gross |  |  |  | Net
(in thousands) | Carrying Amount |  | Accumulated Amortization |  | Carrying Amount
North America | $ | 63,269 |  |  | $ | (31,765) |  |  | $ | 31,504 |
Europe | 377,866 |  |  | (43,748) |  |  | 334,118 |
Asia/Pacific | 4,224 |  |  | (197) |  |  | 4,027 |
Total | $ | 445,359 |  |  | $ | (75,710) |  |  | $ | 369,649 |
| 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 June 30, 2024, the estimated future amortization of definite-lived intangible assets was as follows:
(in thousands) |
Remaining six months of 2024 | $ | 21,294 |
2025 | 23,321 |
2026 | 22,678 |
2027 | 22,603 |
2028 | 22,335 |
2029 | 21,738 |
Thereafter | 126,924 |
| $ | 260,893 |
Changes in the carrying amount of goodwill and intangible assets | The changes in the carrying amount of goodwill and intangible assets for the six months ended June 30, 2024, were as follows:
|  |  | Intangible
(in thousands) | Goodwill |  | Assets
Balance at December 31, 2023 | $ | 502,550 |  |  | $ | 365,339 |
Acquisition1 | 8,484 |  |  | 8,249 |
Amortization | — |  |  | (11,323) |
Foreign exchange | (13,044) |  |  | (9,769) |
Balance at June 30, 2024 | $ | 497,990 |  |  | $ | 352,496 |

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