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Goodwill and Intangible Assets (Notes) | 9 Months Ended
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Sep. 30, 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 |  | 5,847 |
Balance as of September 30, 2024 |  | $ | 1,478,293 |
Intangible Assets, Net Intangible assets, carried at cost less accumulated amortization and amortized on a straight-line basis, were as follows (in thousands):
|  | Weighted-Average Amortization Life in Years |  | September 30, 2024
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 35,880 |  |  | $ | 22,320 |  |  | $ | 13,560 |
Customer contracts |  | 12 |  | 9,928 |  |  | 6,958 |  |  | 2,970 |
Non-contractual customer relationships |  | 8 |  | 562,067 |  |  | 225,145 |  |  | 336,922 |
Trademarks |  | 1 |  | 5,425 |  |  | 5,425 |  |  | — |
Trade name |  | 15 |  | 18,254 |  |  | 8,070 |  |  | 10,184 |
Developed technology |  | 10 |  | 625,128 |  |  | 213,734 |  |  | 411,394 |
Non-compete |  | 3 |  | 9,100 |  |  | 9,100 |  |  | — |
Total amortized intangible assets |  |  |  | $ | 1,265,782 |  |  | $ | 490,752 |  |  | $ | 775,030 |
Internally developed software(1) |  |  |  | $ | 10,793 |  |  |  |  | $ | 10,793 |
Total intangible assets |  |  |  | $ | 1,276,575 |  |  | $ | 490,752 |  |  | $ | 785,823 |
______________________________ (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 $34.3 million and $100.5 million during the three and nine months ended September 30, 2024, respectively, of which $0.7 million and $0.7 million, respectively, are included in cost of goods sold and $33.4 million and $98.8 million during the three and nine months ended September 30, 2023, respectively, with none included in cost of goods sold in both periods. As of September 30, 2024 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):
Remainder of 2024 |  | $ | 34,116 |
2025 |  | 132,064 |
2026 |  | 129,927 |
2027 |  | 119,765 |
2028 |  | 119,167 |
2029 |  | 116,077 |
Thereafter |  | 123,914 |
Total |  | $ | 775,030 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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