Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of changes in the Company’s goodwill is as follows (in thousands):


	December 31, 2022		Acquisitions		Acquisition Accounting Adjustments		Foreign Currency		March 31, 2023






Goodwill	$	5,201,435	$	132,774	$	2,171	$	43,670	$	5,380,050

As of March 31, 2023 and December 31, 2022, other intangibles consisted of the following (in thousands):


		March 31, 2023						December 31, 2022
	Weighted- Avg Useful Lives (Years)	Gross Carrying Amounts		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amounts		Accumulated Amortization		Net Carrying Amount
Customer and vendor relationships	16.7	$	3,049,204	$	(1,396,086)	$	1,653,118	$	2,922,586	$	(1,332,542)	$	1,590,044
Trade names and trademarks—indefinite lived	N/A	424,684		—		424,684		419,270		—		419,270
Trade names and trademarks—other	2.0	49,370		(10,931)		38,439		47,939		(9,111)		38,828
Software	6.1	285,447		(223,076)		62,371		278,460		(216,858)		61,602
Non-compete agreements	4.4	80,965		(61,990)		18,975		80,098		(58,868)		21,230
Total other intangibles		$	3,889,670	$	(1,692,083)	$	2,197,587	$	3,748,353	$	(1,617,379)	$	2,130,974

Changes in foreign exchange rates resulted in a $15.8 million increase to the net carrying values of other intangibles in the three months ended March 31, 2023. Amortization expense related to intangible assets for the three months ended March 31, 2023 and 2022 was $57.7 million and $54.9 million, respectively.