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Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

Goodwill

The change in the carrying amounts of goodwill was as follows:

			Total
			(In thousands)
Balance as of December 31, 2022			$	326,405
Foreign currency translation adjustments			(4,402)
Balance as of September 30, 2023			$	322,003

Intangible Assets

Intangible assets, net consisted of the following as of September 30, 2023:

			Gross Amount						Accumulated Amortization						Net Carrying Value
			(In thousands)
Customer relationships			$	142,148					$	(32,160)					$	109,988
Developed technology			76,342						(22,266)						54,076
Other, definite lived			2,828						(2,828)						—
Licenses, indefinite lived			624						—						624
Total intangible assets, net			$	221,942					$	(57,254)					$	164,688

Intangible assets, net consisted of the following as of December 31, 2022:

			Gross Amount						Accumulated Amortization						Net Carrying Value
			(In thousands)
Customer relationships			$	141,146					$	(25,037)					$	116,109
Developed technology			77,409						(16,772)						60,637
Other, definite lived			2,828						(2,828)						—
Licenses, indefinite lived			624						—						624
Total intangible assets, net			$	222,007					$	(44,637)					$	177,370

The Company recognized amortization expense as follows:

			Three months ended September 30,												Nine months ended September 30,
			2023						2022						2023						2022
			(In thousands)
Cost of revenue			$	1,959					$	1,831					$	5,863					$	5,797
Sales and marketing			2,389						2,287						7,097						7,221
Total amortization expense			$	4,348					$	4,118					$	12,960					$	13,018

The remaining weighted average amortization period for definite lived intangible assets is 10.3 years.

Future estimated amortization expense for definite lived intangible assets is as follows:

			As of September 30,
			2023
			(In thousands)
2023 (remaining)			$	4,234
2024			16,937
2025			16,937
2026			16,937
2027			16,937
Thereafter			92,082
			$	164,064

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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