Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Activity in the Goodwill Balance

The following table summarizes the activity in the Company’s goodwill balance (in thousands):

	MCM		Cabot		Total
Balance as of December 31, 2020	$	148,936	$	758,026	$	906,962
Effect of foreign currency translation	—		(9,167)		(9,167)
Balance as of December 31, 2021	148,936		748,859		897,795
Effect of foreign currency translation	—		(76,581)		(76,581)
Balance as of December 31, 2022	148,936		672,278		821,214
Goodwill impairment	—		(238,200)		(238,200)
Effect of foreign currency translation	—		23,461		23,461
Balance as of December 31, 2023	$	148,936	$	457,539	$	606,475

Schedule of Acquired Intangible Assets

The Company’s acquired intangible assets are summarized as follows (in thousands):

	As of December 31, 2023						As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	—	$	—	$	—	$	45,498	$	(23,507)	$	21,991
Trade name and other	918		(870)		48		909		(788)		121
Total intangible assets	$	918	$	(870)	$	48	$	46,407	$	(24,295)	$	22,112

Weighted-Average Useful Lives of Intangible Assets

The weighted-average useful lives of intangible assets at the time of acquisition were as follows (in years):

	Weighted-Average Useful Lives
Customer relationships	10
Trade name and other	7