Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2022

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, 2021	$	531,163
Acquisition initial value adjustment		(1,602	)
Foreign currency translation		(4,297	)
Balance at March 31, 2022	$	525,264

There were no impairments recorded against goodwill during the three months ended March 31, 2022 and for the year ended December 31, 2021.

Intangible assets consisted of the following (in thousands):

				As of March 31, 2022
	Gross carrying amount		Weighted average life (years)	Accumulated amortization			Net carrying amount
Amortizable intangible assets:
Developed technology	$	43,010	3.41	$	(19,318	)	$	23,692
Tradenames		26,138	4.02		(12,462	)		13,676
Customer relationships		217,780	8.35		(46,277	)		171,503
Total intangible assets	$	286,928		$	(78,057	)	$	208,871

					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

Amortization expense for intangible assets was $11.6 million and $7.9 million for the three months ended March 31, 2022 and 2021, respectively. The Company recorded amortization expense attributed to developed technology within cost of revenue of $3.2 million and $2.6 million for the three months ended March 31, 2022 and 2021, respectively. During the three months ended March 31, 2022, the Company retired $5.4 million of fully amortized intangible assets.

The expected amortization of the intangible assets, as of March 31, 2022, for each of the next five years and thereafter is as follows (in thousands):


2022 (for the remaining nine months)	$	32,736
2023		39,454
2024		34,005
2025		27,533
2026		21,415
Thereafter		53,728
	$	208,871