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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
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:
|  | 2024 |  |  | 2023 |
Balance as of January 1, 2024 |  | $ | 1,219,476 |  |  | $ | 1,212,898 |
Add: Goodwill resulting from business combinations |  |  | 30,200 |  |  |  | 21,133 |
Less: Goodwill resulting from business divestitures |  |  | — |  |  |  | (16,921 | )
Effect of foreign currency translation |  |  | (821 | ) |  |  | 2,366 |
Balance as of December 31, 2024 |  | $ | 1,248,855 |  |  | $ | 1,219,476 |
See “Note 17 – 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 11 years. The weighted-average period of amortization for all intangible assets, calculated as of December 31, 2024, 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, 2024 is 5.7 years. Intangible assets related to developed technology are being amortized over a weighted-average period, calculated as of December 31, 2024, of 7.6 years. Intangible assets with an indefinite life consist of a domain name. Other intangibles consisted of the following at December 31:
|  | 2024 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Customer-related |  | $ | 188,410 |  |  | $ | (108,215 | ) |  | $ | 80,195 |
Developed technology |  |  | 8,902 |  |  |  | (1,279 | ) |  |  | 7,623 |
Trade name |  |  | 1,570 |  |  |  | (1,220 | ) |  |  | 350 |
Total amortizable intangible assets |  |  | 198,882 |  |  |  | (110,714 | ) |  |  | 88,168 |
Intangible with indefinite life |  |  | 94 |  |  |  | — |  |  |  | 94 |
Total other intangible assets |  | $ | 198,976 |  |  | $ | (110,714 | ) |  | $ | 88,262 |
|  | 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 |
Aggregate amortization expense for the years ended December 31, 2024, 2023, and 2022, was approximately $33.0 million, $35.5 million, and $28.4 million, respectively. The estimated future amortization expense relating to intangible assets is as follows:
Year ending December 31, |  |  |
2025 |  | $ | 35,590 |
2026 |  |  | 21,700 |
2027 |  |  | 6,574 |
2028 |  |  | 5,214 |
2029 |  |  | 4,534 |
Thereafter |  |  | 14,556 |
Total |  | $ | 88,168 |

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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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