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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | NOTE 8 – Goodwill and Other Intangible Assets Goodwill Changes in the net carrying amount of goodwill were as follows:
|  | Total |
Goodwill as of December 31, 2023 |  | $ | 157,638 |
Foreign exchange impact |  |  | (1,577 | )
Goodwill as of June 30, 2024 |  | $ | 156,061 |
Other Intangible Assets Other intangible assets, net consist of the following components:
|  | As of |
|  | June 30, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Amount |
Customer lists/relationships |  | $ | 143,337 |  |  | $ | (66,956 | ) |  | $ | 76,381 |
Technology and other intangibles |  |  | 53,855 |  |  |  | (33,409 | ) |  |  | 20,446 |
Other intangible assets, net |  | $ | 197,192 |  |  | $ | (100,365 | ) |  | $ | 96,827 |
|  | As of |
|  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Amount |
Customer lists/relationships |  | $ | 144,671 |  |  | $ | (63,006 | ) |  | $ | 81,665 |
Technology and other intangibles |  |  | 54,052 |  |  |  | (31,760 | ) |  |  | 22,292 |
Other intangible assets, net |  | $ | 198,723 |  |  | $ | (94,766 | ) |  | $ | 103,957 |
Amortization expense for the three months ended June 30, 2024 and June 30, 2023 was $2,807 and $2,857, respectively. Amortization expense for the six months ended June 30, 2024 and June 30, 2023 was $5,633 and $5,368, respectively. The changes in the gross carrying amounts of intangible assets are due to foreign exchange impacts in the quarter. Future amortization expense for other intangible assets as of June 30, 2024 is as follows:
|  | Amortization expense |
Remaining 2024 |  | $ | 5,476 |
2025 |  |  | 10,613 |
2026 |  |  | 10,458 |
2027 |  |  | 10,399 |
2028 |  |  | 10,364 |
Thereafter |  |  | 49,517 |
Total amortization expense |  | $ | 96,827 |

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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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