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Goodwill and Intangible Assets (Notes) | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Intangible Assets, Net Goodwill The following table presents the changes in the carrying amount of our goodwill (in thousands):
|  | Total
Balance as of January 1, 2024 |  | $ | 1,472,446 |
Currency translation |  | (13,078) |
Balance as of March 31, 2024 |  | $ | 1,459,368 |
Intangible Assets, Net Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows (in thousands):
|  | Weighted-Average Amortization Life in Years |  | March 31, 2024
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 34,257 |  |  | $ | 21,188 |  |  | $ | 13,069 |
Customer contracts |  | 12 |  | 9,891 |  |  | 6,792 |  |  | 3,099 |
Non-contractual customer relationships |  | 8 |  | 550,922 |  |  | 187,090 |  |  | 363,832 |
Trademarks |  | 1 |  | 5,425 |  |  | 5,425 |  |  | — |
Trade name |  | 15 |  | 18,245 |  |  | 7,457 |  |  | 10,788 |
Developed technology |  | 10 |  | 587,115 |  |  | 182,377 |  |  | 404,738 |
Non-compete |  | 3 |  | 9,100 |  |  | 8,000 |  |  | 1,100 |
Total amortized intangible assets |  |  |  | $ | 1,214,955 |  |  | $ | 418,329 |  |  | $ | 796,626 |
Internally developed software(1) |  |  |  | $ | 40,278 |  |  |  |  | $ | 40,278 |
Total intangible assets |  |  |  | $ | 1,255,233 |  |  | $ | 418,329 |  |  | $ | 836,904 |
______________________________ (1) Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.
|  | Weighted-Average Amortization Life in Years |  | December 31, 2023
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 33,261 |  |  | $ | 20,637 |  |  | $ | 12,624 |
Customer contracts |  | 12 |  | 10,018 |  |  | 6,755 |  |  | 3,263 |
Non-contractual customer relationships |  | 8 |  | 554,982 |  |  | 171,279 |  |  | 383,703 |
Trademarks |  | 1 |  | 5,425 |  |  | 5,425 |  |  | — |
Trade name |  | 15 |  | 18,251 |  |  | 7,162 |  |  | 11,089 |
Developed technology |  | 10 |  | 587,852 |  |  | 167,913 |  |  | 419,939 |
Non-compete |  | 3 |  | 9,100 |  |  | 7,450 |  |  | 1,650 |
Total amortized intangible assets |  |  |  | $ | 1,218,889 |  |  | $ | 386,621 |  |  | $ | 832,268 |
Internally developed software(1) |  |  |  | $ | 38,320 |  |  |  |  | $ | 38,320 |
Total intangible assets |  |  |  | $ | 1,257,209 |  |  | $ | 386,621 |  |  | $ | 870,588 |
______________________________ (1) Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use. Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $33.1 million and $32.3 million during the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):
Remainder of 2024 |  | $ | 98,985 |
2025 |  | 124,715 |
2026 |  | 123,950 |
2027 |  | 113,873 |
2028 |  | 113,275 |
2029 |  | 110,189 |
Thereafter |  | 111,639 |
Total |  | $ | 796,626 |

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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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