Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 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, 2019	$	91,421
Increase due to acquisitions		89,033
Foreign currency translation		6,957
Balance at December 31, 2020		187,411
Increase due to acquisitions		348,794
Foreign currency translation		(5,042	)
Balance at December 31, 2021	$	531,163

There were no impairments recorded against goodwill in 2021, 2020 or 2019.

Intangible assets consisted of the following (in thousands):

					As of December 31, 2021
	Gross carrying amount		Weighted- average life (years)		Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	43,178		3.41	$	(16,214	)	$	26,964
Tradenames		28,250		4.13		(12,779	)		15,471
Customer relationships		219,850		8.30		(42,966	)		176,884
Total intangible assets	$	291,278			$	(71,959	)	$	219,319

					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 $40.5 million, $20.2 million and $10.4 million for the years ended December 31, 2021, 2020 and 2019, respectively. Amortization expense of tradenames and customer relationships is included within general and administrative expenses, while amortization of developed technology is included in cost of revenue. The Company recorded amortization expense attributed to developed technology of $12.1 million, $4.2 million and $2.1 million for the period ended December 31, 2021, 2020 and 2019, respectively. In December 2020, the Company completed an asset acquisition and recorded $17.1 million to developed technology. During the year ended December 31, 2021, the Company recognized a $3.0 million reduction in the cost basis of the developed technology due to a partial return of the purchase price. The average useful life for the December 2020 asset acquisition of acquired technology is 4.0 years. During the year ended December 31, 2021, the Company retired $1.9 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of December 31, 2021, for each of the next five years and thereafter is as follows (in thousands):

2022	$	44,297
2023		39,351
2024		33,841
2025		27,442
2026		21,260
Thereafter		53,128
	$	219,319