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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill as of December 31, 2023 and December 31, 2022 was as follows:
Goodwill | December 31, 2023 |  | December 31, 2022
| (In thousands)
Goodwill, beginning of period | $ | 213,559 |  |  | $ | 181,254 |
Goodwill acquired | — |  |  | 33,354 |
Currency translation adjustment | 1,003 |  |  | (1,049) |
Goodwill, end of period | $ | 214,562 |  |  | $ | 213,559 |
The Company’s purchased intangible assets as of December 31, 2023 and December 31, 2022 were as follows:
| December 31, 2023 |  | December 31, 2022
| Gross |  | Additions |  | Accumulated Amortization |  | Impairment |  | 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 |  |  | — |  |  | (27,093) |  |  | — |  |  | 23,951 |  |  | 38,650 |  |  | 12,394 |  |  |  |  | (17,260) |  |  | 33,784 |
Customer relationships | 55,106 |  |  | — |  |  | (29,527) |  |  | (3,807) |  |  | 21,772 |  |  | 41,021 |  |  | 14,085 |  |  |  |  | (19,702) |  |  | 35,404 |
Trade names | 37,700 |  |  | — |  |  | (15,173) |  |  | — |  |  | 22,527 |  |  | 37,700 |  |  | — |  |  |  |  | (7,633) |  |  | 30,067 |
Order backlog | 600 |  |  | — |  |  | (600) |  |  | — |  |  | — |  |  | 600 |  |  | — |  |  |  |  | (600) |  |  | — |
Total purchased intangible assets | $ | 144,736 |  |  | $ | — |  |  | $ | (72,393) |  |  | $ | (3,807) |  |  | $ | 68,536 |  |  | $ | 118,257 |  |  | $ | 26,479 |  |  |  |  | $ | (45,195) |  |  | $ | 99,541 |
During the year ended December 31, 2023, intangible assets acquired increased 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:
|  |  | Years Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  |
|  |  |  |  | (In thousands)
Developed technology |  |  |  |  | $ | 9,832 |  |  | $ | 8,303 |  |  |
Customer relationships |  |  |  |  | 9,826 |  |  | 8,253 |  |  |
Trade names |  |  |  |  | 7,540 |  |  | 7,540 |  |  |
Order backlog |  |  |  |  | — |  |  | 600 |  |  |
Total amortization expense |  |  |  |  | $ | 27,198 |  |  | $ | 24,696 |  |  |
Amortization of developed technology is recorded to cost of revenues, 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 December 31, 2023 is presented below:
| December 31, 2023
| (In thousands)
Fiscal year: |
2024 | $ | 22,745 |
2025 | 21,420 |
2026 | 19,131 |
2027 | 4,954 |
Total | $ | 68,250 |
During the year ended December 31, 2023, the Company determined that a triggering event had occurred as a result of changes to the Company’s long-term projections and performed additional analysis on the valuation of the acquired customer relationship asset and concluded that the fair value was below its carrying amount. Accordingly, the Company recorded an impairment charge for the customer relationship asset of $3.8 million in “Restructuring and asset impairment charges” in the consolidated statement of operations for the year ended December 31, 2023.

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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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