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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill As of each of September 30, 2024 and December 31, 2023, the Company’s goodwill was $670.4 million. The Company did not record an impairment charge on goodwill during each of the three and nine months ended September 30, 2024 and 2023. As of September 30, 2024 and December 31, 2023, the Company’s intangible assets consisted of the following:
|  | As of September 30, 2024 |  | As of December 31, 2023
|  | Gross carrying value |  | Accumulated amortization |  | Net carrying value |  | Gross carrying value |  | Accumulated amortization |  | Net carrying value
|  | (in thousands)
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 69,860 |  |  | $ | (35,141) |  |  | $ | 34,719 |  |  | $ | 69,860 |  |  | $ | (28,473) |  |  | $ | 41,387 |
Developed technology |  | 50,130 |  |  | (39,968) |  |  | 10,162 |  |  | 50,130 |  |  | (32,424) |  |  | 17,706 |
Trade names |  | 3,910 |  |  | (3,656) |  |  | 254 |  |  | 3,910 |  |  | (3,542) |  |  | 368 |
Internet protocol addresses |  | 4,984 |  |  | (2,343) |  |  | 2,641 |  |  | 4,984 |  |  | (1,970) |  |  | 3,014 |
Total intangible assets |  | $ | 128,884 |  |  | $ | (81,108) |  |  | $ | 47,776 |  |  | $ | 128,884 |  |  | $ | (66,409) |  |  | $ | 62,475 |
The Company’s customer relationships, developed technology, trade names and internet protocol addresses represent intangible assets subject to amortization. Amortization expense was $4.9 million and $5.2 million for the three months ended September 30, 2024 and 2023, respectively. Amortization expense was $14.7 million and $15.5 million for the nine months ended September 30, 2024 and 2023, respectively. The Company did not purchase any intangible assets during both the three and nine months ended September 30, 2024 and 2023. The Company did not record an impairment charge on its intangible assets during both the three and nine months ended September 30, 2024 and 2023. The expected amortization expense of intangible assets subject to amortization as of September 30, 2024 is as follows:
| As of September 30, 2024
| (in thousands)
Remainder of 2024 | $ | 4,900 |
2025 | 16,976 |
2026 | 9,193 |
2027 | 9,051 |
2028 | 6,891 |
Thereafter | 765 |
Total | $ | 47,776 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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