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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Change in Goodwill
The change in goodwill during 2024 consisted of the following:
(dollars in thousands)Total
Balance at December 31, 2023$1,053,738 
Effect of foreign currency translation(1,232)
Balance at December 31, 2024$1,052,506 
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)20242023
Finite-lived gross carrying amount
Customer relationships$243,203 $570,104 
Marketing assets29,876 71,308 
Developed technology110,606 182,956 
Content— 17,900 
Total finite-lived gross carrying amount383,685 842,268 
Accumulated amortization
Customer relationships(173,720)(174,982)
Marketing assets(11,660)(11,985)
Developed technology(65,424)(69,386)
Content— (3,978)
Total accumulated amortization(250,804)(260,331)
Intangible assets, net$132,881 $581,937 
Summary of Amortization Expense
The following table summarizes amortization expense of our finite-lived intangible assets:
Years ended December 31,
(dollars in thousands)202420232022
Included in cost of revenue:
Cost of recurring$55,659 $51,079 $47,085 
Cost of one-time services and other1,298 1,384 1,407 
Total included in cost of revenue56,957 52,463 48,492 
Included in operating expenses3,541 3,139 2,925 
Total amortization of intangibles from business combinations$60,498 $55,602 $51,417 
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, 2024:
Years ending December 31,
(dollars in thousands)
Amortization
expense
2025 29,498 
2026 23,771 
2027 20,518 
2028 15,484 
2029 14,061 
Total$103,332