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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill as of September 30, 2023 and December 31, 2022 were as follows:
Goodwill | September 30, 2023 |  | December 31, 2022
| (In thousands)
Goodwill, beginning of period | $ | 213,559 |  |  | $ | 181,254 |
Goodwill acquired | — |  |  | 33,354 |
Currency translation adjustment | (366) |  |  | (1,049) |
Goodwill, end of period | $ | 213,193 |  |  | $ | 213,559 |
The Company’s purchased intangible assets as of September 30, 2023 and December 31, 2022 were as follows:
| September 30, 2023 |  | December 31, 2022
| Gross |  | Additions |  | Accumulated Amortization |  | Net |  | Gross |  | Additions |  |  |  | Accumulated Amortization |  | Net
| (In thousands)
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other indefinite-lived intangibles | $ | 286 |  |  | $ | — |  |  | $ | — |  |  | $ | 286 |  |  | $ | 286 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 286 |
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Developed technology | 51,044 |  |  | — |  |  | (24,632) |  |  | 26,412 |  |  | 38,650 |  |  | 12,394 |  |  |  |  | (17,260) |  |  | 33,784 |
Customer relationships | 55,106 |  |  | — |  |  | (27,069) |  |  | 28,037 |  |  | 41,021 |  |  | 14,085 |  |  |  |  | (19,702) |  |  | 35,404 |
Trade names | 37,700 |  |  | — |  |  | (13,288) |  |  | 24,412 |  |  | 37,700 |  |  | — |  |  |  |  | (7,633) |  |  | 30,067 |
Order backlog | 600 |  |  | — |  |  | (600) |  |  | — |  |  | 600 |  |  | — |  |  |  |  | (600) |  |  | — |
Total purchased intangible assets | $ | 144,736 |  |  | $ | — |  |  | $ | (65,589) |  |  | $ | 79,147 |  |  | $ | 118,257 |  |  | $ | 26,479 |  |  |  |  | $ | (45,195) |  |  | $ | 99,541 |
During the nine months ended September 30, 2023, intangible assets acquired decreased by less than $0.1 million due to the impact of foreign currency translation. Amortization expense related to finite-lived intangible assets were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
| (In thousands)
Developed technology | $ | 2,456 |  |  | $ | 2,012 |  |  | $ | 7,366 |  |  | $ | 5,888 |  |  |
Customer relationships | 2,456 |  |  | 2,066 |  |  | 7,364 |  |  | 5,891 |  |  |
Trade names | 1,885 |  |  | 1,885 |  |  | 5,655 |  |  | 5,655 |  |  |
Order backlog | — |  |  | — |  |  | — |  |  | 600 |  |  |
Total amortization expense | $ | 6,797 |  |  | $ | 5,963 |  |  | $ | 20,385 |  |  | $ | 18,034 |  |  |
Amortization of developed technology is recorded to cost of sales, amortization of customer relationships and trade names are recorded to sales and marketing expense, and amortization of certain customer relationships is recorded as a reduction to revenue. The expected future amortization expense of intangible assets as of September 30, 2023 is presented below:
| September 30, 2023
| (In thousands)
Fiscal year: |
2023 (remaining three months) | $ | 6,795 |
2024 | 24,365 |
2025 | 23,041 |
2026 | 19,482 |
2027 | 5,178 |
Total | $ | 78,861 |

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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 + Details
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