XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Goodwill and Other Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | NOTE 6 - GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the fiscal years ended December 31 were as follows:
|  | 2023 |  |  | 2022 |
Balance as of January 1, 2023 |  | $ | 1,212,898 |  |  | $ | 1,046,760 |
Add: Goodwill resulting from business combinations |  |  | 21,133 |  |  |  | 171,415 |
Less: Goodwill resulting from business divestitures |  |  | (16,921 | ) |  |  | — |
Effect of foreign currency translation |  |  | 2,366 |  |  |  | (5,277 | )
Balance as of December 31, 2023 |  | $ | 1,219,476 |  |  | $ | 1,212,898 |
See “Note 16 – Acquisitions and Divestitures” for the details of the business combination and divestiture resulting in the changes in goodwill. Other Intangible Assets Intangible assets with definite lives are primarily amortized over periods ranging from approximately 1 to 9 years. The weighted-average period of amortization for all intangible assets, calculated as of December 31, 2023, is 5.7 years. The customer-related intangible assets, which consist of customer contracts, backlog, and non-contractual customer relationships, are being amortized based on estimated cash flows and respective estimated economic benefit of the assets. The weighted-average period of amortization of the customer-related intangibles calculated as of December 31, 2023 is 5.7 years. Intangible assets related to developed technology are being amortized on an accelerated basis over a weighted-average period, calculated as of December 31, 2023, of 9.6 years. Intangible assets with an indefinite life consist of a domain name. Other intangibles consisted of the following at December 31:
|  | 2023 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Customer-related |  | $ | 185,723 |  |  | $ | (93,911 | ) |  | $ | 91,812 |
Developed technology |  |  | 3,902 |  |  |  | (904 | ) |  |  | 2,998 |
Trade name |  |  | 1,280 |  |  |  | (1,280 | ) |  |  | — |
Total amortizable intangible assets |  |  | 190,905 |  |  |  | (96,095 | ) |  |  | 94,810 |
Intangible with indefinite life |  |  | 94 |  |  |  | — |  |  |  | 94 |
Total other intangible assets |  | $ | 190,999 |  |  | $ | (96,095 | ) |  | $ | 94,904 |
|  | 2022 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Customer-related |  | $ | 240,591 |  |  | $ | (118,412 | ) |  | $ | 122,179 |
Developed technology |  |  | 4,480 |  |  |  | (512 | ) |  |  | 3,968 |
Trade name |  |  | 1,180 |  |  |  | (884 | ) |  |  | 296 |
Total amortizable intangible assets |  |  | 246,251 |  |  |  | (119,808 | ) |  |  | 126,443 |
Intangible with indefinite life |  |  | 94 |  |  |  | — |  |  |  | 94 |
Total other intangible assets |  | $ | 246,345 |  |  | $ | (119,808 | ) |  | $ | 126,537 |
Aggregate amortization expense for the years ended December 31, 2023, 2022, and 2021, was approximately $35.5 million, $28.4 million, and $12.5 million, respectively. The estimated future amortization expense relating to intangible assets is as follows:
Year ending December 31, |  |  |
2024 |  | $ | 32,992 |
2025 |  |  | 32,074 |
2026 |  |  | 18,533 |
2027 |  |  | 3,407 |
2028 |  |  | 2,047 |
Thereafter |  |  | 5,757 |
Total |  | $ | 94,810 |

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