Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 5 - Goodwill and Intangible Assets, net

Goodwill

The changes in the carrying amount of goodwill for the period presented are as follows (in thousands):


Balance as of December 31, 2023	$	1,585,750
Foreign currency translation adjustment		(908	)
Balance as of March 31, 2024	$	1,584,842

There were no impairment charges recorded for goodwill for the three months ended March 31, 2024 and 2023.

Intangible Assets, net

A summary of the Company’s intangible assets, net is as follows (in thousands):


	March 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment Losses			Net Carrying Amount		Weighted- Average Remaining Useful Life (Years)
Brands - indefinite-lived	$	1,511,269	$	—		$	(141,000	)	$	1,370,269	Indefinite
Brands - definite-lived		42,479		(5,997	)		—			36,482		12.0
Developed technology		249,380		(206,248	)		—			43,132		0.9
User base		113,742		(113,220	)		—			522		0.5
White label contracts		33,384		(6,953	)		(26,431	)		—		—
Other		30,008		(10,723	)		—			19,285		3.8
Total intangible assets, net	$	1,980,262	$	(343,141	)	$	(167,431	)	$	1,469,690


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment Losses			Net Carrying Amount		Weighted- Average Remaining Useful Life (Years)
Brands - indefinite-lived	$	1,511,269	$	—		$	(141,000	)	$	1,370,269	Indefinite
Brands - definite-lived		43,309		(5,301	)		—			38,008		12.3
Developed technology		249,470		(193,777	)		—			55,693		1.1
User base		113,760		(113,154	)		—			606		0.5
White label contracts		33,384		(6,953	)		(26,431	)		—		—
Other		28,549		(8,835	)		—			19,714		3.9
Total intangible assets, net	$	1,979,741	$	(328,020	)	$	(167,431	)	$	1,484,290

Amortization expense related to intangible assets, net for the three months ended March 31, 2024 and 2023 was $15.3 million and $14.3 million, respectively.