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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary Of Changes In Goodwill

Changes in goodwill for the years ended December 31, 2022 and 2021, are as follows:

 

 

 

Sales

 

 

Marketing

 

 

Total

 

(in thousands)

 

 

 

 

 

 

 

 

 

Gross carrying amount as of January 1, 2021

 

$

2,114,378

 

 

$

700,961

 

 

$

2,815,339

 

Accumulated impairment charge

 

 

(652,000

)

 

 

—

 

 

 

(652,000

)

Balance at January 1, 2021

 

 

1,462,378

 

 

 

700,961

 

 

 

2,163,339

 

Acquisitions

 

 

32,087

 

 

 

13,315

 

 

 

45,402

 

Measurement period adjustments

 

 

179

 

 

 

(1,043

)

 

 

(864

)

Foreign exchange translation effects

 

 

(1,873

)

 

 

—

 

 

 

(1,873

)

Balance at December 31, 2021

 

 

1,492,771

 

 

 

713,233

 

 

 

2,206,004

 

Acquisitions

 

 

5,732

 

 

 

52,855

 

 

 

58,587

 

Measurement period adjustments

 

 

(392

)

 

 

—

 

 

 

(392

)

Impairment charge

 

 

(1,275,719

)

 

 

(91,804

)

 

 

(1,367,523

)

Foreign exchange translation effects

 

 

(8,727

)

 

 

—

 

 

 

(8,727

)

Balance at December 31, 2022

 

$

213,665

 

 

$

674,284

 

 

$

887,949

 
Summary Of Intangible Assets

The following tables set forth information for intangible assets:

 

 

 

 

 

December 31, 2022

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment Charges

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,488,802

 

 

$

1,338,381

 

 

$

—

 

 

$

1,150,421

 

Trade names

 

10 years

 

 

97,009

 

 

 

47,986

 

 

 

—

 

 

 

49,023

 

Developed technology

 

6 years

 

 

7,500

 

 

 

4,441

 

 

 

—

 

 

 

3,059

 

Total finite-lived intangible assets(1)

 

 

2,593,311

 

 

 

1,390,808

 

 

 

—

 

 

 

1,202,503

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

 

1,480,000

 

 

 

—

 

 

 

785,000

 

 

 

695,000

 

Total other intangible assets

 

 

 

$

4,073,311

 

 

$

1,390,808

 

 

$

785,000

 

 

$

1,897,503

 

 

 

 

 

 

 

December 31, 2021

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment Charges

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,480,167

 

 

$

1,158,732

 

 

$

—

 

 

$

1,321,435

 

Trade names

 

8 years

 

 

138,206

 

 

 

78,355

 

 

 

—

 

 

 

59,851

 

Developed technology

 

5 years

 

 

13,260

 

 

 

8,206

 

 

 

—

 

 

 

5,054

 

Covenant not to compete

 

5 years

 

 

6,100

 

 

 

4,926

 

 

 

—

 

 

 

1,174

 

Total finite-lived intangible assets(1)

 

 

2,637,733

 

 

 

1,250,219

 

 

 

—

 

 

 

1,387,514

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

 

1,480,000

 

 

 

—

 

 

 

580,000

 

 

 

900,000

 

Total other intangible assets

 

$

4,117,733

 

 

$

1,250,219

 

 

$

580,000

 

 

$

2,287,514

 

 
Summary Of Estimated Future Amortization Expenses Of Intangible Assets

As of December 31, 2022, estimated future amortization expenses of the Company’s existing intangible assets are as follows:

 

(in thousands)

 

 

 

 

 

 

 

2023

 

$

197,995

 

2024

 

 

196,626

 

2025

 

 

190,571

 

2026

 

 

186,582

 

2027

 

 

182,030

 

Thereafter

 

 

248,699

 

Total amortization expense

 

$

1,202,503