Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

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


	December 31, 2021		Additions (1)	Foreign currency exchange rate fluctuations	March 31, 2022

	(In thousands)
Goodwill	$	738,900	2,549	(1,023)	$	740,426

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(1) Refer to Note 2, Business Combinations, for further information.

Intangible Assets, Net

The carrying amounts and useful lives of intangible assets as of March 31, 2022 and December 31, 2021 were as follows:


	March 31, 2022
	Gross carrying amount (1)		Accumulated amortization		Foreign currency exchange rate fluctuations		Net carrying amount		Useful life (years)

	(In thousands, except for years)
Customer relationships	$	311,089	$	(83,571)	$	(1,106)	$	226,412	4 - 30
Acquired technology	92,066		(55,492)		—		36,574		4 - 20
Backlog	1,800		(225)		—		1,575		2
Trade names	9,200		(5,848)		—		3,352		5 - 12
Patents	2,430		(1,216)		—		1,214		2 - 20
Non-compete agreements	600		(300)		—		300		3

Total intangibles assets, net	$	417,185	$	(146,652)	$	(1,106)	$	269,427


	December 31, 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	$	309,989	$	(78,093)	$	(933)	$	230,963	10 - 30
Acquired technology	95,466		(55,859)		6		39,613		4 - 20
Backlog	1,800		—		—		1,800		2
Trade names	9,200		(5,600)		14		3,614		5 - 12
Patents	2,462		(1,186)		—		1,276		2 - 20
Non-compete agreements	600		(250)		—		350		3

Total intangibles assets, net	$	419,517	$	(140,988)	$	(913)	$	277,616

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(1) The differences in gross carrying amounts between periods are primarily due to the write-off of certain fully amortized intangible assets, partially offset by additions of intangible assets in connection with the Hub and Spoke Innovations acquisition.

Amortization expense of intangible assets was $9.1 million and $6.3 million for the three months ended March 31, 2022 and 2021, respectively.

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


	March 31, 2022

	(In thousands)
Remaining nine months of 2022	$	26,204
2023	31,594
2024	23,139
2025	21,086
2026	18,099
Thereafter	149,305
Total	$	269,427