Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):


	Goodwill
Balance at December 31, 2021	$	486,919
Cumulative translation adjustment	102
Balance at September 30, 2022	$	487,021

For additional information on Goodwill, see Note 4—“Acquisitions.”

Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets.

Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):


	September 30, 2022
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	173,273	$	70,630	$	102,643	9.5
Technology	23,997		23,997		—		N/A
Noncompete agreements	19,818		19,031		787		4.2
Patents	11,307		10,375		932		3.1
All other	17,462		7,086		10,376		8.5
Total definite life intangible assets	245,857		131,119		114,738		9.3
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,242		—		2,242		N/A
Total indefinite life intangible assets	81,812		—		81,812		N/A
Total	$	327,669	$	131,119	$	196,550	9.3


	December 31, 2021
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	173,786	$	61,571	$	112,215	10.1
Technology	23,997		23,427		570		0.2
Noncompete agreements	19,820		18,891		929		4.9
Patents	10,861		10,265		596		2.6
All other	17,269		5,738		11,531		9.0
Total definite life intangible assets	245,733		119,892		125,841		9.9
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,336		—		2,336		N/A
Total indefinite life intangible assets	81,906		—		81,906		N/A
Total	$	327,639	$	119,892	$	207,747	9.9

Intangible amortization expense was $3.7 million and $5.0 million for the three months ended September 30, 2022 and 2021, respectively. Intangible amortization expense was $11.7 million and $18.6 million for the nine months ended September 30, 2022 and 2021, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for the three and nine months ended September 30, 2022 and 2021.

The estimated future amortization expense of definite life intangible assets as of September 30, 2022 is as follows (in millions):


2022	$	3.6
2023	14.6
2024	14.6
2025	14.6
2026	14.2
2027 and thereafter	53.1
Total	$	114.7