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Goodwill and intangible assets | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and intangible assets | Goodwill and intangible assets The following table presents the changes in goodwill for the years ended December 31, 2020 and 2021:
| As of December 31,
| 2020 |  | 2021
Opening balance | $ | 1,574,466 |  |  | $ | 1,695,688 |
Goodwill relating to acquisitions consummated during the period | 123,595 |  |  | 44,216 |
Impact of measurement period adjustments | (5,653) |  |  | 1,205 |
Effect of exchange rate fluctuations | 3,280 |  |  | (10,082) |
Closing balance | $ | 1,695,688 |  |  | $ | 1,731,027 |
The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2020:
| BCMI |  | CGRLH |  | HMS |  | Total
Opening balance | $ | 417,213 |  |  | $ | 555,130 |  |  | $ | 602,123 |  |  | $ | 1,574,466 |
Goodwill relating to acquisitions consummated during the period | 2,559 |  |  | 52,612 |  |  | 68,424 |  |  | 123,595 |
Impact of measurement period adjustments | (542) |  |  | (1,372) |  |  | (3,739) |  |  | (5,653) |
Effect of exchange rate fluctuations | 942 |  |  | 1,204 |  |  | 1,134 |  |  | 3,280 |
Closing balance | $ | 420,172 |  |  | $ | 607,574 |  |  | $ | 667,942 |  |  | $ | 1,695,688 |
10. Goodwill and intangible assets (Continued) The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2021:
| BCMI |  | CGRLH |  | HMS |  | Total
Opening balance | $ | 420,172 |  |  | $ | 607,574 |  |  | $ | 667,942 |  |  | $ | 1,695,688 |
Goodwill relating to acquisitions consummated during the period | 4,167 |  |  | 7,032 |  |  | 33,017 |  |  | 44,216 |
Impact of measurement period adjustments | 35 |  |  | 309 |  |  | 861 |  |  | 1,205 |
Effect of exchange rate fluctuations | (3,117) |  |  | (3,795) |  |  | (3,170) |  |  | (10,082) |
Closing balance | $ | 421,257 |  |  | $ | 611,120 |  |  | $ | 698,650 |  |  | $ | 1,731,027 |
During the years ended December 31, 2020 and 2021, in accordance with ASC 350, Intangibles-Goodwill and Other, the Company performed an assessment to determine whether events or circumstances exist that may lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on such assessment, as of December 31, 2020 and 2021, the Company concluded that it is not more likely than not that the fair values of any of the Company’s reporting units are less than their carrying amounts. The total amount of the Company’s goodwill deductible for tax purposes was $296,046 and $326,795 as of December 31, 2020 and 2021, respectively. The Company’s intangible assets are as follows:
| As of December 31, 2020 |  | As of December 31, 2021
| Gross carrying amount |  | Accumulated amortization & Impairment |  | Net |  | Gross carrying amount |  | Accumulated amortization & Impairment |  | Net
Customer-related intangible assets | $ | 478,189 |  |  | $ | 359,652 |  |  | $ | 118,537 |  |  | $ | 489,974 |  |  | $ | 394,688 |  |  | $ | 95,286 |
Marketing-related intangible assets | 96,561 |  |  | 61,154 |  |  | 35,407 |  |  | 98,870 |  |  | 76,663 |  |  | 22,207 |
Technology-related intangible assets | 152,293 |  |  | 90,866 |  |  | 61,427 |  |  | 171,772 |  |  | 119,630 |  |  | 52,142 |
Intangible assets under development | 23,864 |  |  | 2,503 |  |  | 21,361 |  |  | — |  |  | — |  |  | — |
Total | $ | 750,907 |  |  | $ | 514,175 |  |  | $ | 236,732 |  |  | $ | 760,616 |  |  | $ | 590,981 |  |  | $ | 169,635 |
Amortization expenses for intangible assets acquired as part of a business combination and disclosed in the consolidated statements of income under amortization of acquired intangible assets for the years ended December 31, 2019, 2020 and 2021 were $32,612, $43,343 and $58,448, respectively. Amortization expenses for internally-developed and other intangible assets disclosed in the consolidated statements of income under cost of revenue and selling, general and administrative expenses for the years ended December 31, 2019, 2020 and 2021 were $18,957, $27,290 and $24,987, respectively. Amortization expenses for the technology-related, internally-developed intangible assets set forth above include the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts, amounting to $(76), $74 and $(157) for the years ended December 31, 2019, 2020 and 2021, respectively. During the years ended December 31, 2019, 2020 and 2021, the Company tested for recoverability certain customer-related and technology-related intangible assets, including those under development, and certain property, plant and equipment, as a result of changes in the Company’s investment strategy and market trends which led to a decision to cease certain service offerings. Based on the results of its testing, the Company determined that the carrying value of certain assets tested were not recoverable and the Company recorded complete write-downs of the carrying values of these assets amounting to $3,511, $14,083 and $915 for the years ended December 31, 2019, 2020 and 2021, respectively. These write-downs have been recorded in “other operating (income) expense, net” in the consolidated statements of income. 10. Goodwill and intangible assets (Continued) The summary below represents the impairment charges recorded for various categories of assets during the years ended December 31, 2019, 2020 and 2021:
|  | Year ended December 31,
|  | 2019 |  | 2020 |  | 2021
Technology related intangibles |  | $ | 3,511 |  |  | $ | 5,179 |  |  | $ | 205 |
Customer related intangibles |  | — |  |  | 938 |  |  | — |
Total Intangibles |  | $ | 3,511 |  |  | $ | 6,117 |  |  | $ | 205 |
Property, plant and equipment |  | $ | — |  |  | $ | 7,966 |  |  | $ | 710 |
Total Property, plant and equipment |  | $ | — |  |  | $ | 7,966 |  |  | $ | 710 |
Grand Total |  | $ | 3,511 |  |  | $ | 14,083 |  |  | $ | 915 |
The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:
For the year ending December 31: |
2022 | $ | 63,620 |
2023 | 48,718 |
2024 | 32,938 |
2025 | 19,527 |
2026 and beyond | 4,832 |
Total | $ | 169,635 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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