| Schedule of Intangible Assets and Goodwill |
The carrying amounts of goodwill and intangible assets, as of September 30, 2024 and December 31, 2023, consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2024 |
|
(in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
410,390 |
|
|
$ |
(188,358 |
) |
|
$ |
222,032 |
|
Developed technologies |
|
|
85,191 |
|
|
|
(41,157 |
) |
|
|
44,034 |
|
Tradenames |
|
|
36,121 |
|
|
|
(11,095 |
) |
|
|
25,026 |
|
Database |
|
|
51,457 |
|
|
|
(48,019 |
) |
|
|
3,438 |
|
Total finite-lived intangible assets |
|
|
583,159 |
|
|
|
(288,629 |
) |
|
|
294,530 |
|
Goodwill |
|
|
490,343 |
|
|
|
— |
|
|
|
490,343 |
|
Total goodwill and intangible assets |
|
$ |
1,073,502 |
|
|
$ |
(288,629 |
) |
|
$ |
784,873 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
(in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
410,210 |
|
|
$ |
(163,586 |
) |
|
$ |
246,624 |
|
Developed technologies |
|
|
78,434 |
|
|
|
(33,769 |
) |
|
|
44,665 |
|
Tradenames |
|
|
36,062 |
|
|
|
(9,379 |
) |
|
|
26,683 |
|
Database |
|
|
50,221 |
|
|
|
(45,072 |
) |
|
|
5,149 |
|
Total finite-lived intangible assets |
|
|
574,927 |
|
|
|
(251,806 |
) |
|
|
323,121 |
|
Goodwill |
|
|
1,075,080 |
|
|
|
— |
|
|
|
1,075,080 |
|
Total goodwill and intangible assets |
|
$ |
1,650,007 |
|
|
$ |
(251,806 |
) |
|
$ |
1,398,201 |
|
|
| Schedule of Future Amortization Expense |
Estimated total intangible amortization expense during the next five years and thereafter is as follows:
|
|
|
|
|
(in thousands) |
|
|
|
2024, excluding the nine months ended September 30, 2024 |
|
$ |
12,213 |
|
2025 |
|
|
47,425 |
|
2026 |
|
|
41,250 |
|
2027 |
|
|
35,045 |
|
2028 |
|
|
30,778 |
|
Thereafter |
|
|
127,819 |
|
Total |
|
$ |
294,530 |
|
|
| Schedule of Goodwill |
As of and for the periods ended September 30, 2024 and December 31, 2023, goodwill consisted of the following:
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Nine Months Ended
September 30, 2024 |
|
|
Twelve Months Ended
December 31, 2023 |
|
Goodwill, gross - beginning of period |
|
$ |
1,362,480 |
|
|
$ |
1,324,733 |
|
Accumulated impairment losses |
|
|
(287,400 |
) |
|
|
— |
|
Goodwill, net - beginning of period |
|
|
1,075,080 |
|
|
|
1,324,733 |
|
Goodwill acquired during period |
|
|
7,057 |
|
|
|
37,747 |
|
Goodwill impairment loss |
|
|
(591,794 |
) |
|
|
(287,400 |
) |
Goodwill, net - end of period |
|
$ |
490,343 |
|
|
$ |
1,075,080 |
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Nine Months Ended
September 30, 2024 |
|
|
Twelve Months Ended
December 31, 2023 |
|
Goodwill, gross - end of period |
|
$ |
1,369,537 |
|
|
$ |
1,362,480 |
|
Accumulated impairment losses |
|
|
(879,194 |
) |
|
|
(287,400 |
) |
Goodwill, net - end of period |
|
$ |
490,343 |
|
|
$ |
1,075,080 |
|
|