XML 20 R13.htm IDEA: XBRL DOCUMENT v3.24.3

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

3. GOODWILL AND INTANGIBLE ASSETS

Goodwill. The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows (in thousands):

January 1, 2024, balance		$	308,596
Effects of changes in foreign currency exchange rates			4,191
Goodwill acquired during the period			10,662
September 30, 2024, balance		$	323,449

Goodwill acquired during the period relates to the acquisitions discussed in Note 5.

Other Intangible Assets. Our other intangible assets subject to ongoing amortization consist of acquired customer contracts and software. As of September 30, 2024 and December 31, 2023, the carrying values of these assets were as follows (in thousands):

		September 30, 2024												December 31, 2023
		Gross Carrying Amount				Accumulated Amortization				Net Amount				Gross Carrying Amount				Accumulated Amortization				Net Amount
Acquired customer contracts		$	177,528			$	(134,742	)		$	42,786			$	162,348			$	(126,469	)		$	35,879
Software			191,761				(168,808	)			22,953				171,825				(157,601	)			14,224
Total other intangible assets		$	369,289			$	(303,550	)		$	65,739			$	334,173			$	(284,070	)		$	50,103

Acquired customer contracts and software as of September 30, 2024 include the assets acquired as part of the acquisitions discussed in Note 5.

The total amortization expense related to other intangible assets for the third quarters of 2024 and 2023 was $7.1 million and $6.4 million, respectively, and for the nine months ended September 30, 2024 and 2023 was $18.8 million and $19.5 million, respectively. Based on the September 30, 2024 net carrying value of our intangible assets, the estimated total amortization expense for each of the five succeeding fiscal years ending December 31 is: 2024 - $25.7 million; 2025 - $21.9 million; 2026 - $15.1 million; 2027 - $7.0 million; and 2028 - $4.3 million.

Customer Contract Costs. As of September 30, 2024 and December 31, 2023, the carrying values of our customer contract cost assets, related to those contracts with a contractual term greater than one year, were as follows (in thousands):

		September 30, 2024												December 31, 2023
		Gross Carrying Amount				Accumulated Amortization				Net Amount				Gross Carrying Amount				Accumulated Amortization				Net Amount
Customer contract costs		$	107,131			$	(46,641	)		$	60,490			$	96,515			$	(42,094	)		$	54,421

The total amortization expense related to customer contract costs for the third quarters of 2024 and 2023 was $5.4 million and $5.0 million, respectively, and for the nine months ended September 30, 2024 and 2023 was $16.1 million and $14.4 million, respectively.

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ 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

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration