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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Change in Goodwill | The change in goodwill during 2023 consisted of the following:
(dollars in thousands) | Total
Balance at December 31, 2022 | $ | 1,050,272 |
Adjustments related to prior year business combination(1) | 36 |
Effect of foreign currency translation | 3,430 |
Balance at December 31, 2023 | $ | 1,053,738 |
(1)Represents immaterial measurement period adjustments during the year ended December 31, 2023 to the fair value of the Kilter assets acquired and liabilities assumed.
Fair Values Of Intangible Assets Acquired In Various Business Combinations By Class | The table below sets forth the balances of each class of intangible asset and related amortization as of:
| December 31,
(dollars in thousands) | 2023 | 2022
Finite-lived gross carrying amount |  |
Customer relationships | $ | 570,104 |  | $ | 569,009 |
Marketing assets | 71,308 |  | 69,643 |
Developed technology | 182,956 |  | 182,463 |
Content | 17,900 |  | 17,900 |
Total finite-lived gross carrying amount | 842,268 |  | 839,015 |
Accumulated amortization |  |
Customer relationships | (174,982) |  | (146,948) |
Marketing assets | (11,985) |  | (8,371) |
Developed technology | (69,386) |  | (46,571) |
Content | (3,978) |  | (1,989) |
Total accumulated amortization | (260,331) |  | (203,879) |
Intangible assets, net | $ | 581,937 |  | $ | 635,136 |
Summary of Amortization Expense | The following table summarizes amortization expense of our finite-lived intangible assets:
| Years ended December 31,
(dollars in thousands) | 2023 | 2022 | 2021
Included in cost of revenue: |  |  |
Cost of recurring | $ | 51,079 |  | $ | 47,085 |  | $ | 33,132 |
Cost of one-time services and other | 1,384 |  | 1,407 |  | 1,680 |
Total included in cost of revenue | 52,463 |  | 48,492 |  | 34,812 |
Included in operating expenses | 3,139 |  | 2,925 |  | 2,227 |
Total amortization of intangibles from business combinations | $ | 55,602 |  | $ | 51,417 |  | $ | 37,039 |
Future Amortization Expense for Finite-Lived Intangible Assets | The following table outlines the estimated future amortization expense for each of the next five years for our finite-lived intangible assets as of December 31, 2023:
Years ending December 31, (dollars in thousands) | Amortization expense
2024 | 62,332 |
2025 | 65,873 |
2026 | 64,234 |
2027 | 60,038 |
2028 | 52,544 |
Total | $ | 305,021 |

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