Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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