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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amounts of Goodwill
The changes in carrying amounts of goodwill for the three months ended March 31, 2024 are as follows (in thousands):
Digital MediaCybersecurity and MartechConsolidated
Balance as of January 1, 2024
$1,016,880 $529,185 $1,546,065 
Goodwill acquired (1)
85,900 — 85,900 
Goodwill removed due to sale of businesses (2)
(3,983)— (3,983)
Foreign exchange translation(1,188)(2,166)(3,354)
Balance as of March 31, 2024$1,097,609 $527,019 $1,624,628 
(1)Goodwill recognized in connection with the acquisition during the three months ended March 31, 2024 (see Note 3 — Business Acquisitions).
(2)During the three months ended March 31, 2024, in a cash transaction, the Company sold an international asset at Digital Media within its shopping vertical, which resulted in $4.0 million of goodwill being removed in connection with this sale.
Intangible Assets Subject to Amortization
As of March 31, 2024, intangible assets subject to amortization relate primarily to the following (in thousands):
Historical
Cost
Accumulated
Amortization
Net
Trade names and trademarks$349,490 $199,293 $150,197 
Customer relationships
774,154 569,148 205,006 
Other purchased intangibles396,962 351,603 45,359 
Total$1,520,606 $1,120,044 $400,562 

As of December 31, 2023, intangible assets subject to amortization relate primarily to the following (in thousands):
Historical
Cost
Accumulated
Amortization
Net
Trade names and trademarks$347,895 $192,111 $155,784 
Customer relationships
692,634 555,384 137,250 
Other purchased intangibles379,703 347,331 32,372 
Total$1,420,232 $1,094,826 $325,406