Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 are as follows:


	Nine months ended September 30, 2022
	(in thousands)
Balance as of December 31, 2021	$	636,805
Goodwill acquired from business combinations	33,419
Foreign currency translation and other adjustments	(66)
Balance as of September 30, 2022	$	670,158

The Company did not record an impairment charge on goodwill during either of the three and nine months ended September 30, 2022 or 2021.

As of September 30, 2022 and December 31, 2021, the Company's intangible assets consisted of the following:


	As of September 30, 2022						As of December 31, 2021
	Gross carrying value		Accumulated amortization		Net carrying value		Gross carrying value		Accumulated amortization		Net carrying value
	(in thousands)
Intangible assets:
Customer relationships	$	69,860	$	(17,359)	$	52,501	$	69,100	$	(10,797)	$	58,303
Developed technology	50,130		(19,853)		30,277		49,500		(12,375)		37,125
Trade names	3,910		(2,251)		1,659		3,300		(1,375)		1,925
Internet protocol addresses	4,984		(1,346)		3,638		4,984		(973)		4,011
Backlog	2,200		(2,200)		—		2,200		(1,375)		825
In-process research and development ("IPR&D")	368		—		368		368		—		368
Domain name	39		—		39		39		—		39
Total intangible assets	$	131,491	$	(43,009)	$	88,482	$	129,491	$	(26,895)	$	102,596

The Company's customer relationships, developed technology, trade names, internet protocol addresses, backlog and domain name intangible assets are subject to amortization. IPR&D is indefinite-lived that is not subject to amortization. Amortization expense was $5.5 million and $5.3 million for the three months ended September 30, 2022 and 2021, respectively. Amortization expense was $16.1 million and $15.9 million for the nine months ended September 30, 2022 and 2021, respectively.

Other than the acquired intangible assets described in Note 5 - Business Combinations, the Company did not purchase any intangible assets during the three and nine months ended September 30, 2022. The Company did not record any impairment charges on its intangible assets during both the three and nine months ended September 30, 2022 and 2021.

The expected amortization expense of intangible assets subject to amortization as of September 30, 2022 is as follows:


	As of September 30, 2022
	(in thousands)
Remainder of 2022	$	5,198
2023	20,437
2024	19,603
2025	16,977
2026	9,193
Thereafter	16,706
Total	$	88,114