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INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2023

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL

NOTE 11.           INTANGIBLE ASSETS AND GOODWILL

Intangible assets consisted of the following:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2023
​		Gross Carrying			Accumulated			Net Carrying			Weighted Average Remaining
​	​	Amount		​	Amortization		​	Amount			Useful Life (in years)
Technology	​	$	97,961	​	$	(60,412)	​	$	37,549	​	6.8
Customer relationships	​		168,685	​	​	(58,835)	​		109,850	​	9.5
Trademarks and other	​		27,141	​	​	(13,062)	​		14,079	​	5.6
Total	​	$	293,787	​	$	(132,309)	​	$	161,478	​	8.5
​	​	​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2022
​		Gross Carrying			Accumulated			Net Carrying		​	​
​	​	Amount		​	Amortization		​	Amount		​	​
Technology	​	$	97,237	​	$	(47,196)	​	$	50,041	​	​
Customer relationships	​		167,631	​	​	(44,774)	​		122,857	​	​
Trademarks and other	​		27,036	​	​	(10,408)	​		16,628	​	​
Total	​	$	291,904	​	$	(102,378)	​	$	189,526	​	​

​

Amortization expense related to intangible assets was as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	Years Ended December 31,
​		​	2023			2022			2021
Amortization expense	​	​	$	28,254	​	$	26,114	​	$	22,060

​

Estimated future amortization expense related to intangibles is as follows:

​

​	​	​	​
Year Ending December 31,		​	​
2024	​	$	25,250
2025	​		21,013
2026	​		19,297
2027	​		17,384
2027	​	​	16,141
Thereafter	​		62,393
Total	​	$	161,478

​

​

The following table summarizes the changes in goodwill:

​

​	​	​	​	​	​	​
​	​	December 31,		​	December 31,
​	​	2023			2022
Balance at beginning of period	​	$	281,433	​	$	212,190
Measurement period adjustments	​	​	353	​	​	40
Additions from acquisition	​	​	—	​	​	70,686
Foreign currency translation	​	​	2,054	​	​	(1,483)
Balance at end of period		$	283,840	​	$	281,433

​

Additions and adjustments are the result of business combinations. Refer to Note 2. Acquisitions.

X

- References

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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