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Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill And Other Intangible Assets Disclosure [Abstract]  
Changes in Carrying Value of Goodwill

The following table represents the change in the carrying value of goodwill for the nine months ended September 30, 2024 (amounts in thousands):

 

Balance at December 31, 2023

 

$

987,120

 

Measurement period adjustment - Metenova

 

 

(56

)

Cumulative translation adjustment

 

 

556

 

Balance at September 30, 2024

 

$

987,620

 
Schedule of Intangible Assets

Intangible assets, net, consisted of the following at September 30, 2024:

 

 

September 30, 2024

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Technology – developed

 

$

256,482

 

 

$

(56,803

)

 

$

199,679

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

—

 

 

 

8

 

Customer relationships

 

 

270,049

 

 

 

(97,210

)

 

 

172,839

 

 

 

15

 

Trademarks

 

 

8,757

 

 

 

(2,183

)

 

 

6,574

 

 

 

19

 

Other intangibles

 

 

3,917

 

 

 

(2,955

)

 

 

962

 

 

 

3

 

Total finite-lived intangible assets

 

 

539,445

 

 

 

(159,391

)

 

 

380,054

 

 

 

15

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

—

 

 

 

700

 

 

 

—

 

Total intangible assets

 

$

540,145

 

 

$

(159,391

)

 

$

380,754

 

 

 

 

 

Intangible assets, net, consisted of the following at December 31, 2023:

 

 

 

December 31, 2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Restated)

 

 

(As Restated)

 

 

(As Restated)

 

 

 

 

Technology – developed

 

$

256,536

 

 

$

(44,633

)

 

$

211,903

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

—

 

 

 

8

 

Customer relationships

 

 

269,949

 

 

 

(83,963

)

 

 

185,986

 

 

 

15

 

Trademarks

 

 

8,757

 

 

 

(1,789

)

 

 

6,968

 

 

 

19

 

Other intangibles

 

 

3,914

 

 

 

(2,514

)

 

 

1,400

 

 

 

3

 

Total finite-lived intangible assets

 

 

539,396

 

 

 

(133,139

)

 

 

406,257

 

 

 

15

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

—

 

 

 

700

 

 

 

—

 

Total intangible assets

 

$

540,096

 

 

$

(133,139

)

 

$

406,957

 

 

 

 
Schedule of Amortization Expense for Amortized Intangible Assets As of September 30, 2024, the Company expects to record the following amortization expense in future periods (amounts in thousands):

 

 

 

Estimated

 

 

 

Amortization

 

For the Years Ended December 31,

 

Expense

 

2024 (remaining three months)

 

$

8,620

 

2025

 

 

34,354

 

2026

 

 

34,000

 

2027

 

 

33,965

 

2028

 

 

33,863

 

2029 and thereafter

 

 

235,252

 

Total

 

$

380,054