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Goodwill and intangible assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and intangible assets | Goodwill and intangible assets The following table presents the changes in goodwill for the year ended December 31, 2023 and the three months ended March 31, 2024:
| For the year ended December 31, 2023 |  | For the three months ended March 31, 2024
Opening balance | 1,684,196 |  | 1,683,782
Effect of exchange rate fluctuations | (414) |  | (4,062) |
Closing balance | 1,683,782 |  | 1,679,720 |
The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2023:
| Financial Services |  | Consumer and Healthcare |  | High Tech and Manufacturing |  | Total
Opening balance | 408,736 |  | 592,907 |  | 682,553 |  | 1,684,196
Effect of exchange rate fluctuations | (62) |  |  | (127) |  |  | (225) |  |  | (414) |
Closing balance | 408,674 |  | 592,780 |  | 682,328 |  | 1,683,782
9. Goodwill and intangible assets (Continued) The following table presents the changes in goodwill by reporting unit for the three months ended March 31, 2024:
| Financial Services |  | Consumer and Healthcare |  | High Tech and Manufacturing |  | Total
Opening balance | 408,674 |  | 592,780 |  | 682,328 |  | 1,683,782
Effect of exchange rate fluctuations | (1,133) |  |  | (1,473) |  |  | (1,456) |  |  | (4,062) |
Closing balance | 407,541 |  |  | 591,307 |  |  | 680,872 |  |  | 1,679,720 |
The total amount of goodwill deductible for tax purposes was $263,910 and $256,767 as of December 31, 2023 and March 31, 2024, respectively. The Company’s intangible assets are as follows:
| As of December 31, 2023 |  | As of March 31, 2024
| Gross carrying amount |  | Accumulated amortization & Impairment |  | Net |  | Gross carrying amount |  | Accumulated amortization & Impairment |  | Net
Customer-related intangible assets | $ | 474,090 |  |  | $ | 436,104 |  |  | $ | 37,986 |  |  | $ | 472,062 |  |  | $ | 439,269 |  |  | $ | 32,793 |
Marketing-related intangible assets | 97,840 |  | 88,648 |  | 9,192 |  | 97,748 |  | 89,850 |  | 7,898
Technology-related intangible assets | 129,600 |  | 123,750 |  | 5,850 |  | 130,094 |  | 124,480 |  | 5,614
| $ | 701,530 |  |  | $ | 648,502 |  |  | $ | 53,028 |  |  | $ | 699,904 |  |  | $ | 653,599 |  |  | $ | 46,305 |
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 three months ended March 31, 2023 and 2024 were $8,255 and $6,927, 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 three months ended March 31, 2023 and 2024 were $2,251 and $458, respectively. During the three months ended March 31, 2023 and 2024, 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 market trends and the Company’s investment strategy, including the Company's decision to cease certain service offerings. Based on the results of this testing, the Company determined that the carrying values of the assets tested were recoverable. There was no impairment expense recorded in the three months ended March 31, 2023 and 2024.

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