Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

7. Goodwill and Intangible Assets

Goodwill and intangible assets with indefinite lives were $236.7 million and $154.8 million as of December 31, 2023 and 2022, respectively. The following is a summary of changes in goodwill and intangible assets for the year ended December 31, 2023:


	(In thousands)
Balance at December 31, 2022	$	154,789
Goodwill from Pragma Acquisition		81,917
Balance at December 31, 2023	$	236,706

Intangible assets that are subject to amortization, including the related accumulated amortization, are comprised of the following:


	December 31, 2023							December 31, 2022
	Cost		Accumulated amortization			Net carrying amount		Cost		Accumulated amortization			Net carrying amount
	(In thousands)

Customer relationships	$	140,348	$	(50,987	)	$	89,361	$	129,991	$	(34,310	)	$	95,681
Technology and other intangibles		41,130		(11,383	)		29,747		11,430		(9,046	)		2,384
Total	$	181,478	$	(62,370	)	$	119,108	$	141,421	$	(43,356	)	$	98,065

Amortization expense associated with identifiable intangible assets was $18.6 million, $16.4 million and $13.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Annual estimated total amortization expense is $19.9 million, $17.0 million, $15.3 million, $13.9 million and $12.3 million for the years ended December 31, 2024 through 2028, respectively.