Changes in the Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 are as follows: | | | | | | | | | | | Nine months ended September 30, 2022 | | | (in thousands) | Balance as of December 31, 2021 | | $ | 636,805 | | Goodwill acquired from business combinations | | 33,419 | | Foreign currency translation and other adjustments | | (66) | | Balance as of September 30, 2022 | | $ | 670,158 | |
|
Schedule of Intangible Assets |
As of September 30, 2022 and December 31, 2021, the Company's intangible assets consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of September 30, 2022 | | As of December 31, 2021 | | | Gross carrying value | | Accumulated amortization | | Net carrying value | | Gross carrying value | | Accumulated amortization | | Net carrying value | | | (in thousands) | Intangible assets: | | | | | | | | | | | | | Customer relationships | | $ | 69,860 | | | $ | (17,359) | | | $ | 52,501 | | | $ | 69,100 | | | $ | (10,797) | | | $ | 58,303 | | Developed technology | | 50,130 | | | (19,853) | | | 30,277 | | | 49,500 | | | (12,375) | | | 37,125 | | Trade names | | 3,910 | | | (2,251) | | | 1,659 | | | 3,300 | | | (1,375) | | | 1,925 | | Internet protocol addresses | | 4,984 | | | (1,346) | | | 3,638 | | | 4,984 | | | (973) | | | 4,011 | | Backlog | | 2,200 | | | (2,200) | | | — | | | 2,200 | | | (1,375) | | | 825 | | In-process research and development ("IPR&D") | | 368 | | | — | | | 368 | | | 368 | | | — | | | 368 | | Domain name | | 39 | | | — | | | 39 | | | 39 | | | — | | | 39 | | Total intangible assets | | $ | 131,491 | | | $ | (43,009) | | | $ | 88,482 | | | $ | 129,491 | | | $ | (26,895) | | | $ | 102,596 | |
|
Expected Amortization Expense of Intangible Assets |
The expected amortization expense of intangible assets subject to amortization as of September 30, 2022 is as follows: | | | | | | | As of September 30, 2022 | | (in thousands) | Remainder of 2022 | $ | 5,198 | | 2023 | 20,437 | | 2024 | 19,603 | | 2025 | 16,977 | | 2026 | 9,193 | | Thereafter | 16,706 | | Total | $ | 88,114 | |
|