Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

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


	December 31, 2021		Additions (1)	Measurement Period Adjustments (1)	Foreign currency exchange rate fluctuations	September 30, 2022

	(In thousands)
Goodwill	$	738,900	2,549	(4,041)	(6,114)	$	731,294

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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 September 30, 2022 and December 31, 2021 were as follows:


	September 30, 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	$	(94,108)	$	(1,880)	$	215,101	4 - 30
Acquired technology	92,066		(61,471)		—		30,595		4 - 20
Backlog	1,800		(675)		—		1,125		2
Trade names	9,200		(6,371)		—		2,829		5 - 12
Patents	2,430		(1,276)		—		1,154		2 - 20
Non-compete agreements	600		(400)		—		200		3

Total intangibles assets, net	$	417,185	$	(164,301)	$	(1,880)	$	251,004


	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 $8.7 million and $6.3 million for the three months ended September 30, 2022 and 2021, respectively, and $26.7 million and $18.7 million for the nine months ended September 30, 2022 and 2021, respectively.

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


	September 30, 2022

	(In thousands)
Remaining three months of 2022	$	8,463
2023	31,463
2024	23,015
2025	20,970
2026	18,027
Thereafter	149,066
Total	$	251,004