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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill, by segment | Goodwill by segment were as follows:
| As of September 30, |  | As of December 31,
(in thousands) | 2024 |  | 2023 |  | 2023
North America | $ | 144,369 |  |  | $ | 101,487 |  |  | $ | 101,558 |
Europe | 405,257 |  |  | 380,699 |  |  | 399,693 |
Asia/Pacific | 1,320 |  |  | 1,227 |  |  | 1,299 |
Total | $ | 550,946 |  |  | $ | 483,413 |  |  | $ | 502,550 |
Schedule of net intangible assets, by segment | assets, net, by segment were as follows:
| As of September 30, 2024
| Gross |  |  |  | Net
| Carrying |  | Accumulated |  | Carrying
(in thousands) | Amount |  | Amortization |  | Amount
North America | $ | 107,561 |  |  | $ | (37,131) |  |  | $ | 70,430 |
Europe | 389,148 |  |  | (67,801) |  |  | 321,347 |
Asia/Pacific | 4,296 |  |  | (556) |  |  | 3,740 |
Total | $ | 501,005 |  |  | $ | (105,488) |  |  | $ | 395,517 |
| As of September 30, 2023
| Gross |  |  |  | Net
(in thousands) | Carrying Amount |  | Accumulated Amortization |  | Carrying 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 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 September 30, 2024, the estimated future amortization of definite-lived intangible assets was as follows:
(in thousands) |
Remaining three months of 2024 | $ | 7,513 |
2025 | 29,204 |
2026 | 28,552 |
2027 | 28,369 |
2028 | 28,619 |
Thereafter | 177,498 |
| $ | 299,755 |
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, 2024, were as follows:
|  |  | Intangible
(in thousands) | Goodwill |  | Assets
Balance at December 31, 2023 | $ | 502,550 |  |  | $ | 365,339 |
Acquisitions 1 | 42,870 |  |  | 43,372 |
Amortization | — |  |  | (17,965) |
Foreign exchange | 5,526 |  |  | 4,771 |
Balance at September 30, 2024 | $ | 550,946 |  |  | $ | 395,517 |

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