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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 6. Goodwill and Intangible Assets Goodwill The following table presents the changes in the carrying amount of the goodwill for the six months ended June 30, 2025 (in thousands):
| Amount |
Ending balance as of December 31, 2024 | $ | 2,326,831 |  |
Foreign currency translation adjustment | 65,002 |  |
Ending Balance as of June 30, 2025 | $ | 2,391,833 |  |
Goodwill represents the excess of consideration paid over the estimated fair value of net tangible and identifiable intangible assets acquired in business combinations. Intangible Assets The carrying amounts of the intangible assets other than goodwill as of June 30, 2025 and December 31, 2024 are as follows (in thousands):
|  | June 30, 2025 |  | December 31, 2024
| Cost |  | Accumulated Amortization |  | Net |  | Cost |  | Accumulated Amortization |  | Net
Customer relationships |  | $ | 2,163,568 |  |  | $ | (1,653,369) |  |  | $ | 510,199 |  |  | $ | 2,153,972 |  |  | $ | (1,603,568) |  |  | $ | 550,404 |
Other intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Acquired developed and core technology |  | 880,923 |  |  | (876,050) |  |  | 4,873 |  |  | 880,662 |  |  | (874,981) |  |  | 5,681 |
Total intangible assets, net |  | $ | 3,044,491 |  |  | $ | (2,529,419) |  |  | $ | 515,072 |  |  | $ | 3,034,634 |  |  | $ | (2,478,549) |  |  | $ | 556,085 |
The Company amortizes its intangible assets over their remaining estimated useful life using cash flow projections, revenue projections, or the straight-line method. Total amortization expense related to intangible assets was $25.5 million a nd $32.7 million for the three months ended June 30, 2025 and 2024, respectively. Total amortization expense related to intangible assets was $50.9 million an d $65.5 million for the six months ended June 30, 2025 and 2024, respectively. The allocation of the amortization of intangible assets for the periods indicated below is as follows (in thousands):
| Three Months Ended June 30, |  | Six months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cost of revenues | $ | 538 |  |  | $ | 1,027 |  |  | $ | 1,069 |  |  | $ | 2,061 |
Operating expenses | 25,010 |  |  | 31,718 |  |  | 49,801 |  |  | 63,457 |
Total amortization of intangible assets | $ | 25,548 |  |  | $ | 32,745 |  |  | $ | 50,870 |  |  | $ | 65,518 |
Certain intangible assets are recorded in foreign currencies; and therefore, the gross carrying amount and accumulated amortization are subject to foreign currency translation adjustments. As of June 30, 2025, the amortization expense related to identifiable intangible assets in future periods is expected to be as follows (in thousands):
| Customer Relationships Intangible Asset |  | Other Intangible Assets |  | Total Intangible Assets
Remaining 2025 | $ | 50,360 |  |  | $ | 1,085 |  |  | $ | 51,445 |
2026 | 87,557 |  |  | 1,470 |  |  | 89,027 |
2027 | 75,961 |  |  | 729 |  |  | 76,690 |
2028 | 65,996 |  |  | 573 |  |  | 66,569 |
2029 | 57,291 |  |  | 358 |  |  | 57,649 |
Thereafter | 173,034 |  |  | 658 |  |  | 173,692 |
Total expected amortization expense | $ | 510,199 |  |  | $ | 4,873 |  |  | $ | 515,072 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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