Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

(7) Goodwill and Intangible Assets, Net

The following table displays the changes in the gross carrying amount of goodwill (in thousands):


Balance at December 31, 2020	$	187,411
Increase due to acquisitions		219,945
Foreign currency translation		(3,730	)
Balance at September 30, 2021	$	403,626

There were no impairments recorded against goodwill during the nine months ended September 30, 2021 and for the year ended December 31, 2020.

Intangible assets consisted of the following (in thousands):

				As of September 30, 2021
	Gross carrying amount		Weighted average life (years)	Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	42,441	3.40	$	(12,878	)	$	29,563
Tradenames		25,650	4.04		(11,036	)		14,614
Customer relationships		197,696	8.20		(37,261	)		160,435
Total intangible assets	$	265,787		$	(61,175	)	$	204,612

					As of December 31, 2020
	Gross carrying amount		Weighted average life (years)		Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	31,851		3.54	$	(5,322	)	$	26,529
Tradenames		15,360		3.52		(6,638	)		8,722
Customer relationships		100,590		7.41		(22,079	)		78,511
Total intangible assets	$	147,801			$	(34,039	)	$	113,762

Amortization expense for intangible assets was $11.0 million and $5.4 million for the three months ended September 30, 2021 and 2020, respectively. Amortization expense for intangible assets was $28.9 million and $14.3 million for the nine months ended September 30, 2021 and 2020, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $8.8 million and $2.8 million for the nine months ended September 30, 2021 and 2020, respectively. During the nine months ended September 30, 2021, the Company retired $1.1 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of September 30, 2021, for each of the next five years and thereafter is as follows (in thousands):


2021 (for the remaining three months)	$	11,022
2022		41,041
2023		36,084
2024		31,341
2025		23,560
Thereafter		61,564
	$	204,612