XML 27 R14.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2024
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, 2023$335,872 
Foreign currency translation adjustments(9,652)
Balance as of June 30, 2024$326,220 
Intangible Assets
Intangible assets, net consisted of the following:
As of June 30,As of December 31,
20242023
Gross
Amount
Accumulated
Amortization
Net Carrying
Value
Gross
Amount
Accumulated
Amortization
Net Carrying
Value
(In thousands)
Customer relationships$146,560 $(40,215)$106,345 $147,426 $(35,599)$111,827 
Developed technology77,364 (28,367)48,997 79,702 (25,239)54,463 
Other, definite lived2,828 (2,828)— 2,828 (2,828)— 
Licenses, indefinite lived624 — 624 624 — 624 
Total intangible assets, net$227,376 $(71,410)$155,966 $230,580 $(63,666)$166,914 
The Company recognized amortization expense as follows:
Three months ended June 30,Six months ended June 30,
2024202320242023
(In thousands)
Cost of revenue$1,941 $1,959 $3,900 $3,904 
Sales and marketing2,395 2,379 4,797 4,708 
Total amortization expense$4,336 $4,338 $8,697 $8,612 
The remaining weighted average amortization period for definite lived intangible assets is 9.4 years.
Future estimated amortization expense for definite lived intangible assets is as follows:
As of June 30,
2024
(In thousands)
2024 (remaining)$8,667 
202517,334 
202617,334 
202717,334 
202817,334 
Thereafter77,339 
$155,342