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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table represents changes in the carrying amount of goodwill:

			December 31, 2020						Additions						Foreign currency exchange rate fluctuations						June 30, 2021
			(In thousands)
Goodwill			$	499,309					—						(43)						$	499,266

Intangible Assets, Net

The carrying amounts and useful lives of intangible assets as of June 30, 2021 and December 31, 2020 were as follows:

			June 30, 2021
			Gross carrying amount (1)						Accumulated amortization						Foreign currency exchange rate fluctuations						Net carrying amount						Useful life (years)
			(In thousands, except for years)
Customer relationships			$	187,889					$	(70,588)					$	(780)					$	116,521					10 - 30
Acquired technology			85,666						(49,904)						6						35,768						5 - 20
Trade names			7,000						(5,327)						14						1,687						1 - 12
Patents			2,890						(1,542)						1						1,349						2 - 20
Non-compete agreements			600						(150)						—						450						3
Total intangibles assets, net			$	284,045					$	(127,511)					$	(759)					$	155,775

 

			December 31, 2020
			Gross carrying amount (1)						Accumulated amortization						Foreign currency exchange rate fluctuations						Net carrying amount						Useful life (years)
			(In thousands, except for years)
Customer relationships			$	187,889					$	(64,254)					$	(777)					$	122,858					10 - 30
Acquired technology			86,029						(44,851)						6						41,184						5 - 20
Backlog			1,150						(1,078)						—						72						4
Trade names			7,850						(5,794)						14						2,070						1 - 12
Patents			2,930						(1,455)						2						1,477						2 - 20
Non-compete agreements			600						(50)						—						550						3
Total intangibles assets, net			$	286,448					$	(117,482)					$	(755)					$	168,211

_________________________________________________

(1)     The differences in gross carrying amounts between periods are primarily due to the write-off of certain fully amortized intangible assets.

Amortization expense of intangible assets was $6.1 million and $4.4 million for the three months ended June 30, 2021 and 2020, respectively, and $12.4 million and $8.9 million for the six months ended June 30, 2021 and 2020, respectively.

The estimated future amortization expenses for amortizable intangible assets were as follows:

			June 30, 2021
			(In thousands)
Remaining six months of 2021			$	11,612
2022			21,176
2023			19,153
2024			12,865
2025			11,608
Thereafter			79,361
Total			$	155,775

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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