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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Other Intangible Assets

Other intangible assets, net consist of the following components:

 

 

 

As of December 31, 2022

 

 

 

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Amount

 

 

Weighted
Average
Remaining
Amortization
Period
(in years)

 

Other intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Customer lists / relationships

 

$

148,899

 

 

$

(59,603

)

 

$

89,296

 

 

 

9.4

 

Technology and other intangibles

 

 

45,255

 

 

 

(26,498

)

 

 

18,757

 

 

 

7.4

 

Other intangible assets, net

 

$

194,154

 

 

$

(86,101

)

 

$

108,053

 

 

 

8.2

 

Amortization expense for the year ended December 31, 2022

 

 

 

 

$

11,627

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2021

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Amount

 

Other intangible assets:

 

 

 

 

 

 

 

 

 

Customer lists / relationships

 

$

96,889

 

 

$

(49,213

)

 

$

47,676

 

Technology and other intangibles

 

 

47,441

 

 

 

(25,229

)

 

 

22,212

 

Other intangible assets, net

 

$

144,330

 

 

$

(74,442

)

 

$

69,888

 

Amortization expense for the year ended December 31, 2021

 

 

 

 

$

9,413

 

 

 

 

Amortization expense for the year ended December 31, 2020

 

 

 

 

$

9,055

 

 

 

 

Summary of Estimated Amortization Expense

The estimated amortization expense for the next five years and thereafter is as follows:

 

 

 

Amortization
expense

 

2023

 

$

11,161

 

2024

 

 

10,999

 

2025

 

 

10,610

 

2026

 

 

10,543

 

2027

 

 

10,484

 

Thereafter

 

 

54,256

 

Total future amortization expense

 

$

108,053

 

Summary of Changes in Net Carrying Amount of Goodwill

Changes in the net carrying amount of goodwill were as follows:

 

 

 

Total

 

Goodwill as of December 31, 2020

 

$

109,497

 

Increase due to acquisition

 

 

430

 

Decrease from purchase accounting adjustments

 

 

(129

)

Goodwill as of December 31, 2021

 

$

109,798

 

Increase due to acquisitions

 

 

42,541

 

Foreign exchange impact

 

 

22

 

Goodwill as of December 31, 2022

 

$

152,361