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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
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:
|  |  |  |  | (In thousands)
Balance as of December 31, 2022 |  |  |  |  | $ | 734,274 |
Foreign currency exchange rate fluctuations |  |  |  |  | 54 |
Balance as of September 30, 2023 |  |  |  |  | $ | 734,328 |
Intangible Assets, Net The carrying amounts and useful lives of intangible assets as of September 30, 2023 and December 31, 2022 were as follows:
| September 30, 2023
| Gross carrying amount |  | Accumulated amortization |  | Foreign currency exchange rate fluctuations |  | Net carrying amount |  | Useful life (years)
| (In thousands, except for years)
Customer relationships | $ | 311,089 |  |  | $ | (113,844) |  |  | $ | (1,482) |  |  | $ | 195,763 |  |  | 4 - 30
Acquired technology | 84,876 |  |  | (64,792) |  |  | — |  |  | 20,084 |  |  | 4 - 20
Backlog | 1,800 |  |  | (1,575) |  |  | — |  |  | 225 |  |  | 2
Trade names | 9,200 |  |  | (7,418) |  |  | — |  |  | 1,782 |  |  | 5 - 12
Patents | 2,430 |  |  | (1,423) |  |  | — |  |  | 1,007 |  |  | 2 - 20
Non-compete agreements | 600 |  |  | (600) |  |  | — |  |  | — |  |  | 3
Total intangibles assets, net | $ | 409,995 |  |  | $ | (189,652) |  |  | $ | (1,482) |  |  | $ | 218,861 |  |  |
| December 31, 2022
| Gross carrying amount |  | Accumulated amortization |  | Foreign currency exchange rate fluctuations |  | Net carrying amount |  | Useful life (years)
| (In thousands, except for years)
Customer relationships | $ | 311,089 |  |  | $ | (99,177) |  |  | $ | (1,514) |  |  | $ | 210,398 |  |  | 4 - 30
Acquired technology | 92,066 |  |  | (64,299) |  |  | — |  |  | 27,767 |  |  | 4 - 20
Backlog | 1,800 |  |  | (900) |  |  | — |  |  | 900 |  |  | 2
Trade names | 9,200 |  |  | (6,633) |  |  | — |  |  | 2,567 |  |  | 5 - 12
Patents | 2,430 |  |  | (1,306) |  |  | — |  |  | 1,124 |  |  | 2 - 20
Non-compete agreements | 600 |  |  | (450) |  |  | — |  |  | 150 |  |  | 3
Total intangibles assets, net | $ | 417,185 |  |  | $ | (172,765) |  |  | $ | (1,514) |  |  | $ | 242,906 |  |  |
Amortization expense of intangible assets was $7.7 million and $8.7 million for the three months ended September 30, 2023 and 2022, respectively, and $24.1 million and $26.7 million for the nine months ended September 30, 2023 and 2022, respectively. The estimated future amortization expenses for amortizable intangible assets were as follows:
| September 30, 2023
| (In thousands)
Remaining three months of 2023 | $ | 7,483 |
2024 | 23,093 |
2025 | 21,056 |
2026 | 18,061 |
2027 | 16,754 |
Thereafter | 132,414 |
Total | $ | 218,861 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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