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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill is recorded when the purchase price of an acquisition exceeds the fair value of the net tangible and identified intangible assets acquired.
The following table represents the changes to goodwill during the nine months ended September 30, 2022 (in thousands):
 Carrying
Amount
Balance as of December 31, 2021
$118,071 
Addition from acquisition12,382 
Balance as of September 30, 2022
$130,453 
There are no accumulated impairment losses for any period presented.
Intangible Assets
Intangible assets are carried at cost less accumulated amortization.
The following tables present details of the Company’s intangible assets as of September 30, 2022 and December 31, 2021 (in thousands):
As of September 30, 2022
Gross Carrying AmountAccumulated AmortizationNet Carrying
Amount
Intangible assets with finite lives
Developed Technology$66,559 $(20,662)$45,897 
Assembled Workforce10,000 (3,208)6,792 
Trade Name500 (108)392 
Total Intangible Assets$77,059 $(23,978)$53,081 
As of December 31, 2021
Gross Carrying AmountAccumulated AmortizationNet Carrying
Amount
Intangible assets with finite lives
Developed Technology$62,059 $(11,233)$50,826 
Assembled Workforce8,500 (708)7,792 
Trade Name500 (25)475 
Total Intangible Assets$71,059 $(11,966)$59,093 
The above does not include $0.6 million of indefinite lived intangible assets as of September 30, 2022 and December 31, 2021.
Amortization expense was $4.2 million and $12.0 million for the three and nine months ended September 30, 2022, respectively and $2.7 million and $6.9 million for the three and nine months ended September 30, 2021, respectively.
See Note 6, “Fair Value Measurements” to the Notes to Condensed Consolidated Financial Statements for more information.
The expected future amortization expenses related to the intangible assets as of September 30, 2022 were as follows (in thousands):
Remainder of 2022$4,162 
202316,649 
202415,596 
202512,936 
20263,513 
Thereafter225 
Total remaining amortization$53,081