Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill as of September 30, 2024 and December 31, 2023 are as follows:

	Consolidated
	(In thousands)
Balance as of December 31, 2022	$	296,214
Adjustments to goodwill:
Goodwill impairment (1)	(11,895)
Foreign exchange adjustment	1,312
Balance as of December 31, 2023	$	285,631
Adjustments to goodwill:
Goodwill impairment (1)	(3,627)
Foreign exchange adjustment	327
Balance as of September 30, 2024	$	282,331

——————————————

(1) The sum of these amounts represents the accumulated goodwill impairment balance in our operating segment as of September 30, 2024.

Summary of Intangible Assets

Intangible assets are summarized as follows as of the dates presented:

	September 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Amortization Period
	(In thousands)						(In years)
Amortizing intangible assets:
Technology	$	94,586	$	(70,923)	$	23,663	5.0
Customer relationships	32,066		(21,143)		10,923		10.0
Patents	17,088		(2,394)		14,694		12.6
Trademarks	1,404		(863)		541		5.0
Trade names	1,045		(1,045)		—		2.8
Other	914		(835)		79		4.1
Total	$	147,103	$	(97,203)	$	49,900

	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Amortization Period
	(In thousands)						(In years)
Amortizing intangible assets:
Technology	$	94,549	$	(60,465)	$	34,084	5.0
Customer relationships	32,025		(19,542)		12,483		10.0
Patents	15,350		(1,916)		13,434		12.9
Trademarks	1,400		(707)		693		5.0
Trade names	1,044		(672)		372		2.8
Other	914		(355)		559		4.1
Total	$	145,282	$	(83,657)	$	61,625

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of September 30, 2024, estimated annual amortization expense for the next five years and thereafter is as follows:  

	Estimated Amortization Expense
	(In thousands)
Remainder of 2024	$	3,660
2025	14,230
2026	11,544
2027	1,436
2028	1,368
Thereafter	17,662
Total	$	49,900