Goodwill and other intangible assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

Goodwill and other intangible assets

The change in the carrying amount of goodwill was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in thousands)
Goodwill, beginning of period	$	841,984	$	541,850	$	845,734	$	541,480
Goodwill acquired	—		—		3,014		370
Foreign currency translation adjustment	(18,313)		—		(25,077)		—
Goodwill, end of period	$	823,671	$	541,850	$	823,671	$	541,850

The gross carrying amount and accumulated amortization of intangible assets other than goodwill were as follows:

	June 30, 2022
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	3 - 8 years	$	34,652	$	19,988	$	14,664	3.3 years
Customer relationships	2 ‑ 12 years	247,507		86,183		161,324		7.8 years
Developed technology	5 - 6.5 years	111,415		56,869		54,546		4.9 years
Non‑competes	2 - 3 years	1,588		649		939		1.6 years
Order backlog	2.5 years	3,533		1,449		2,084		1.5 years
Total intangible assets		$	398,695	$	165,138	$	233,557

	December 31, 2021
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	3 - 8 years	$	34,690	$	17,788	$	16,902	3.8 years
Customer relationships	2 ‑ 12 years	249,495		75,600		173,895		8.3 years
Developed technology	5 - 6.5 years	116,193		47,142		69,051		5.1 years
Non‑competes	2 - 2.5 years	1,797		439		1,358		2.0 years
Order backlog	2.5 years	3,745		758		2,987		2.0 years
Total intangible assets subject to amortization		405,920		141,727		264,193
IPR&D	Indefinite	400		—		400
Total intangible assets		$	406,320	$	141,727	$	264,593

The gross value in the tables above includes a cumulative foreign currency translation adjustment of $(10.4) million and $(2.1) million as of June 30, 2022 and December 31, 2021, respectively. The accumulated amortization in the table above includes a cumulative foreign currency translation adjustment of $(1.0) million as of June 30, 2022. The cumulative foreign currency translation adjustment for accumulated amortization was not material as of December 31, 2021.

Amortization expense was $12.3 million and $8.5 million for the three months ended June 30, 2022 and 2021, respectively, and $24.5 million and $16.9 million for the six months ended June 30, 2022 and 2021, respectively.

There were no impairments to goodwill during the three and six months ended June 30, 2022 and 2021. There were no material impairments to intangible assets during the three and six months ended June 30, 2022 and 2021.