Goodwill and Intangible Assets (Notes)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets, Net

Goodwill

    The following table presents the changes in the carrying amount of our goodwill (in thousands):

	Total
Balance as of January 1, 2024	$	1,472,446
Currency translation	(13,078)
Balance as of March 31, 2024	$	1,459,368

Intangible Assets, Net

    Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows (in thousands):

	Weighted-Average Amortization Life in Years	March 31, 2024
		Cost		Accumulated Amortization		Net
Patents	10	$	34,257	$	21,188	$	13,069
Customer contracts	12	9,891		6,792		3,099
Non-contractual customer relationships	8	550,922		187,090		363,832
Trademarks	1	5,425		5,425		—
Trade name	15	18,245		7,457		10,788
Developed technology	10	587,115		182,377		404,738
Non-compete	3	9,100		8,000		1,100
Total amortized intangible assets		$	1,214,955	$	418,329	$	796,626
Internally developed software(1)		$	40,278			$	40,278
Total intangible assets		$	1,255,233	$	418,329	$	836,904

______________________________

(1) Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

	Weighted-Average Amortization Life in Years	December 31, 2023
		Cost		Accumulated Amortization		Net
Patents	10	$	33,261	$	20,637	$	12,624
Customer contracts	12	10,018		6,755		3,263
Non-contractual customer relationships	8	554,982		171,279		383,703
Trademarks	1	5,425		5,425		—
Trade name	15	18,251		7,162		11,089
Developed technology	10	587,852		167,913		419,939
Non-compete	3	9,100		7,450		1,650
Total amortized intangible assets		$	1,218,889	$	386,621	$	832,268
Internally developed software(1)		$	38,320			$	38,320
Total intangible assets		$	1,257,209	$	386,621	$	870,588

______________________________

(1) Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $33.1 million and $32.3 million during the three months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):

Remainder of 2024	$	98,985
2025	124,715
2026	123,950
2027	113,873
2028	113,275
2029	110,189
Thereafter	111,639
Total	$	796,626