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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary Of Changes In Goodwill

Changes in goodwill for the six months ended June 30, 2022 are as follows:

 

 

 

Sales

 

 

Marketing

 

 

Total

 

(in thousands)

 

 

 

 

 

 

 

 

 

Balance at January 1, 2021

 

$

1,462,378

 

 

$

700,961

 

 

$

2,163,339

 

Acquisitions

 

 

32,087

 

 

 

13,315

 

 

 

45,402

 

Measurement period adjustments

 

 

179

 

 

 

(1,043

)

 

 

(864

)

Foreign exchange translation effects

 

 

(1,873

)

 

 

 

 

 

(1,873

)

Balance at December 31, 2021

 

$

1,492,771

 

 

$

713,233

 

 

$

2,206,004

 

Acquisitions

 

 

347

 

 

 

50,226

 

 

 

50,573

 

Measurement period adjustments

 

 

(446

)

 

 

 

 

 

(446

)

Foreign exchange translation effects

 

 

(8,665

)

 

 

 

 

 

(8,665

)

Balance at June 30, 2022

 

$

1,484,007

 

 

$

763,459

 

 

$

2,247,466

 

Summary Of Intangible Assets

The following tables set forth information for intangible assets:

 

 

 

 

 

June 30, 2022

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,491,082

 

 

$

1,247,588

 

 

$

1,243,494

 

Trade names

 

8 years

 

 

135,918

 

 

 

82,836

 

 

 

53,082

 

Developed technology

 

5 years

 

 

13,260

 

 

 

9,443

 

 

 

3,817

 

Covenant not to compete

 

5 years

 

 

6,100

 

 

 

5,536

 

 

 

564

 

Total finite-lived intangible assets

 

 

2,646,360

 

 

 

1,345,403

 

 

 

1,300,957

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

 

900,000

 

 

 

 

 

 

900,000

 

Total other intangible assets

 

 

 

$

3,546,360

 

 

$

1,345,403

 

 

$

2,200,957

 

 

 

 

 

 

 

 

December 31, 2021

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,480,167

 

 

$

1,158,732

 

 

$

1,321,435

 

Trade names

 

8 years

 

 

138,206

 

 

 

78,355

 

 

 

59,851

 

Developed technology

 

5 years

 

 

13,260

 

 

 

8,206

 

 

 

5,054

 

Covenant not to compete

 

5 years

 

 

6,100

 

 

 

4,926

 

 

 

1,174

 

Total finite-lived intangible assets

 

 

2,637,733

 

 

 

1,250,219

 

 

 

1,387,514

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

 

900,000

 

 

 

 

 

 

900,000

 

Total other intangible assets

 

$

3,537,733

 

 

$

1,250,219

 

 

$

2,287,514

 

Summary Of Estimated Future Amortization Expenses Of Intangible Assets As of June 30, 2022, estimated future amortization expense of the Company’s existing intangible assets are as follows:

 

(in thousands)

 

 

 

 

 

 

 

Remainder of 2022

 

$

99,832

 

2023

 

 

197,807

 

2024

 

 

196,443

 

2025

 

 

190,396

 

2026

 

 

186,405

 

Thereafter

 

 

430,074

 

Total amortization expense

 

$

1,300,957