GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 5—GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets, net, are as follows:

	December 31,
	2023		2022
	(In thousands)
Goodwill	$	2,342,612	$	2,348,366
Intangible assets with indefinite lives	183,053		189,006
Intangible assets with definite lives, net	122,693		168,741
Total goodwill and intangible assets, net	$	2,648,358	$	2,706,113

The following table presents the balance of goodwill, including the changes in the carrying value of goodwill, for the years ended December 31, 2023 and 2022:

	December 31,
	2023		2022
	(In thousands)
Balance at January 1	$	2,348,366	$	2,411,996
Additions	12,525		27,086
Foreign Exchange Translation	(18,279)		(90,716)
Balance at December 31	$	2,342,612	$	2,348,366

During the year ended December 31, 2022, the Company recognized impairment charges of $270.1 million related to Hyperconnect indefinite- and definite-lived intangible assets related to a decline in long-term projections for the business since the acquisition in June 2021, including adverse foreign currency impacts in certain of Hyperconnect’s key markets, and the use of higher discount rates to value the assets. Additionally, the Company recognized $49.4 million of impairment during the year ended December 31, 2022 related to certain trade names including the Meetic and Match brands in Europe and certain affinity brands in the U.S., primarily due to declining projections at such brands. These charges are included within impairment and amortization of intangibles in the consolidated statement of operations.

Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2023 and 2022, intangible assets with definite lives are as follows:

	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life  (Years)
	(In thousands)
Customer lists	$	120,764	$	(65,596)	$	55,168	5.0
Patent and technology	65,443		(45,863)		19,580		4.7
Trade names	57,955		(10,010)		47,945		7.8
Other	20		(20)		—		—
Total	$	244,182	$	(121,489)	$	122,693	6.0

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life  (Years)
	(In thousands)
Customer lists	$	123,531	$	(41,866)	$	81,665	4.9
Patent and technology	66,754		(33,778)		32,976		4.5
Trade names	56,594		(2,503)		54,091		7.7
Other	22		(13)		9		2.0
Total	$	246,901	$	(78,160)	$	168,741	5.7

At December 31, 2023, amortization of intangible assets with definite lives is estimated to be as follows:

	(In thousands)
2024	$	42,386
2025	35,799
2026	18,253
2027	7,968
2028 and thereafter	18,287
Total	$	122,693