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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the fiscal years ended December 31 were as follows:

 

 

 

2023

 

 

2022

 

Balance as of January 1, 2023

 

$

1,212,898

 

 

$

1,046,760

 

 Add: Goodwill resulting from business combinations

 

 

21,133

 

 

 

171,415

 

 Less: Goodwill resulting from business divestitures

 

 

(16,921

)

 

 

 

 Effect of foreign currency translation

 

 

2,366

 

 

 

(5,277

)

Balance as of December 31, 2023

 

$

1,219,476

 

 

$

1,212,898

 

See “Note 16 – Acquisitions and Divestitures” for the details of the business combination and divestiture resulting in the changes in goodwill.
Schedule of Other Intangibles

Other intangibles consisted of the following at December 31:

 

 

 

2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Carrying
Value

 

Customer-related

 

$

185,723

 

 

$

(93,911

)

 

$

91,812

 

Developed technology

 

 

3,902

 

 

 

(904

)

 

 

2,998

 

Trade name

 

 

1,280

 

 

 

(1,280

)

 

 

 

Total amortizable intangible assets

 

 

190,905

 

 

 

(96,095

)

 

 

94,810

 

Intangible with indefinite life

 

 

94

 

 

 

 

 

 

94

 

Total other intangible assets

 

$

190,999

 

 

$

(96,095

)

 

$

94,904

 

 

 

 

 

2022

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Carrying
Value

 

Customer-related

 

$

240,591

 

 

$

(118,412

)

 

$

122,179

 

Developed technology

 

 

4,480

 

 

 

(512

)

 

 

3,968

 

Trade name

 

 

1,180

 

 

 

(884

)

 

 

296

 

Total amortizable intangible assets

 

 

246,251

 

 

 

(119,808

)

 

 

126,443

 

Intangible with indefinite life

 

 

94

 

 

 

 

 

 

94

 

Total other intangible assets

 

$

246,345

 

 

$

(119,808

)

 

$

126,537

 

Schedule of Estimated Future Amortization Expense Relating to Intangible Assets The estimated future amortization expense relating to intangible assets is as follows:

 

Year ending December 31,

 

 

 

2024

 

$

32,992

 

2025

 

 

32,074

 

2026

 

 

18,533

 

2027

 

 

3,407

 

2028

 

 

2,047

 

Thereafter

 

 

5,757

 

Total

 

$

94,810