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Goodwill and Other Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill Attributable to Software Reportable Segment

The changes in the carrying amount of goodwill, which is attributable to the Software reportable segment, were as follows (in thousands):

 

Balance as of December 31, 2023

 

$

458,125

 

Acquisitions

 

 

12,482

 

Foreign currency translation

 

 

5,602

 

Balance as of September 30, 2024

 

$

476,209

 

Schedule of Other Intangible Assets

A summary of other intangible assets is shown below (in thousands):

 

 

 

September 30, 2024

 

 

 

Weighted average
amortization period

 

Gross carrying
amount

 

 

Accumulated amortization

 

 

Net carrying amount

 

Developed technology

 

4-6 years

 

$

166,442

 

 

$

109,891

 

 

$

56,551

 

Customer relationships

 

7-10 years

 

 

61,806

 

 

 

44,061

 

 

 

17,745

 

Trade names and other intangibles

 

3-10 years

 

 

11,990

 

 

 

1,382

 

 

 

10,608

 

Total other intangible assets

 

 

 

$

240,238

 

 

$

155,334

 

 

$

84,904

 

 

 

 

December 31, 2023

 

 

 

Weighted average
amortization period

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

Net carrying
amount

 

Developed technology

 

4-6 years

 

$

142,368

 

 

$

90,729

 

 

$

51,639

 

Customer relationships

 

7-10 years

 

 

58,316

 

 

 

37,779

 

 

 

20,537

 

Trade names and other intangibles

 

4-10 years

 

 

11,937

 

 

 

563

 

 

 

11,374

 

Total other intangible assets

 

 

 

$

212,621

 

 

$

129,071

 

 

$

83,550