Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill

The changes in the carrying amount of goodwill for the periods presented are as follows:


	Business		Consumer		Total

	(In thousands)
Balance as of December 31, 2021	$	283,191	$	8,024	$	291,215
Adjustments to goodwill:
Acquisitions	15,511		—		15,511
Foreign exchange adjustments	(2,488)		—		(2,488)
Goodwill reclassified to assets held for sale	—		(8,024)		(8,024)
Balance as of December 31, 2022	$	296,214	—		296,214

During the third quarter of each year, the Company evaluates goodwill for impairment at the reporting unit level. The Company uses qualitative factors in accordance with ASC 820 - Fair Value Measurement to determine whether it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a goodwill impairment test. No impairment was recognized for the years ended December 31, 2022, 2021, and 2020.

Intangible Assets, Net

Intangible assets, net are summarized as follows (for details about the intangible assets acquired see Note 9 – Acquisitions):


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Amortization Period

	(In thousands)						(In years)
Amortizing intangible assets:
Technology	$	97,454	$	(45,907)	$	51,547	5.0
Customer relationships	31,987		(17,392)		14,595		10.0
Patents	11,088		(1,419)		9,669		12.8
Trademarks	1,044		(364)		680		5.0
Trade names	1,378		(402)		976		2.8
Other	979		(343)		636		4.1
Total	$	143,930	$	(65,827)	$	78,103


	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Amortization Period

	(In thousands)						(In years)
Amortizing intangible assets:
Technology	$	90,626	$	(30,757)	$	59,869	5.1
Customer relationships	32,162		(15,164)		16,998		10.0
Patents	7,988		(1,137)		6,851		11.8
Trademarks	1,474		(135)		1,339		5.0
Trade names	460		(43)		417		2.1
Other	314		(234)		80		2.2
Total	$	133,024	$	(47,470)	$	85,554

Amortization expense is calculated over the estimated useful life of the asset. Aggregate amortization expense for intangible assets was $18.4 million, $5.6 million, and $2.8 million for the years ended December 31, 2022, 2021, and 2020, respectively, and a portion of this amortization was included in cost of revenue in the consolidated statements of operations.

As of December 31, 2022, estimated annual amortization expense for the next five years and thereafter is as follows:


	Estimated Amortization Expense
	(In thousands)
2023	$	17,954
2024	16,030
2025	15,631
2026	12,942
2027	1,331
Thereafter	14,215
Total	$	78,103