XML 25 R14.htm IDEA: XBRL DOCUMENT v3.23.2
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Intangible assets are classified as follows:
 June 30, 2023December 31, 2022
(in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Finite-lived intangible assets:
Developed software and core technologies
$1,142,199 $(519,683)$1,106,789 $(483,033)
Customer lists288,261 (77,486)205,484 (71,618)
Trade names 189,992 (139,622)186,424 (135,220)
Total$1,620,452 $(736,791)$1,498,697 $(689,871)
Indefinite-lived intangible asset:
Trade name$357 $357 
Finite-lived intangible assets are amortized over their estimated useful lives of two years to seventeen years.
As of June 30, 2023, estimated future amortization expense for the intangible assets reflected above was as follows:
(in thousands) 
Remainder of 2023$53,280 
2024112,021 
2025114,673 
2026115,521 
2027118,339 
2028111,449 
Thereafter258,378 
Total intangible assets subject to amortization883,661 
Indefinite-lived trade name357 
Other intangible assets, net$884,018 
The changes in goodwill during the six months ended June 30, 2023 and 2022 were as follows:
(in thousands)20232022
Beginning balance – January 1$3,658,267 $3,409,271 
Acquisitions and adjustments(1)
115,644 196,417 
Currency translation18,205 (38,720)
Ending balance – June 30$3,792,116 $3,566,968 
(1) In accordance with the accounting for business combinations, we recorded adjustments to goodwill for the effect of changes in the provisional fair values of the assets acquired and liabilities assumed during the measurement period (up to one year from the acquisition date) as we obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date.
During the first quarter of 2023, we completed the annual impairment test for goodwill and the indefinite-lived intangible asset and determined that these assets had not been impaired as of the test date, January 1, 2023. No events or circumstances changed during the six months ended June 30, 2023 that would indicate that the fair values of our reporting unit and indefinite-lived intangible asset are below their carrying amounts.