GOODWILL

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

GOODWILL

Goodwill represents the excess of the purchase price over the fair value of net assets of businesses acquired. The carrying amount of goodwill was $1.1 billion as of December 31, 2023 and $846.7 million as of December 31, 2022. Goodwill increased for the year ended December 31, 2023 primarily due to acquisitions. The carrying amount of goodwill in foreign countries was $112.6 million as of December 31, 2023 and $97.4 million as of December 31, 2022.

The changes in the carrying amount of goodwill for the twelve months ended December 31, 2023 and 2022 were as follows (in thousands):

Goodwill:
Balance at December 31, 2021	$	786,504
Additions	64,997
Adjustments due to currency translation and other	(4,797)
Balance at December 31, 2022	846,704
Additions	224,014
Dispositions	(2,466)
Adjustments due to currency translation and other	2,058
Balance at December 31, 2023	$	1,070,310