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Goodwill and Intangible Assets (Notes)
9 Months Ended
Sep. 30, 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 translation5,847 
Balance as of September 30, 2024
$1,478,293 

Intangible Assets, Net

    Intangible assets, carried at cost less accumulated amortization and amortized on a straight-line basis, were as follows (in thousands):
 Weighted-Average Amortization Life in YearsSeptember 30, 2024
 CostAccumulated
Amortization
Net
Patents10$35,880 $22,320 $13,560 
Customer contracts129,928 6,958 2,970 
Non-contractual customer relationships8562,067 225,145 336,922 
Trademarks15,425 5,425 — 
Trade name1518,254 8,070 10,184 
Developed technology10625,128 213,734 411,394 
Non-compete39,100 9,100 — 
Total amortized intangible assets $1,265,782 $490,752 $775,030 
Internally developed software(1)
$10,793 $10,793 
Total intangible assets$1,276,575 $490,752 $785,823 
______________________________
(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
 CostAccumulated
Amortization
Net
Patents10$33,261 $20,637 $12,624 
Customer contracts1210,018 6,755 3,263 
Non-contractual customer relationships8554,982 171,279 383,703 
Trademarks15,425 5,425 — 
Trade name1518,251 7,162 11,089 
Developed technology10587,852 167,913 419,939 
Non-compete39,100 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 $34.3 million and $100.5 million during the three and nine months ended September 30, 2024, respectively, of which $0.7 million and $0.7 million, respectively, are included in cost of goods sold and $33.4 million and $98.8 million during the three and nine months ended September 30, 2023, respectively, with none included in cost of goods sold in both periods.

As of September 30, 2024 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):
Remainder of 2024$34,116 
2025132,064 
2026129,927 
2027119,765 
2028119,167 
2029116,077 
Thereafter123,914 
Total$775,030