Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill [Line Items]

Schedule of Changes in the Carrying Amount of Goodwill

Changes in the net carrying amount of goodwill during the nine months ended September 30, 2022 were as follows (in thousands):

	Net
	Carrying
	Amount
Balance as of December 31, 2021	$	1,466,884
Acquisition of Safekeep, Inc.		27,383
Balance as of September 30, 2022	$	1,494,267

Intangible Assets—The Company’s intangible assets are primarily the result of business acquisitions.

Summary of Intangible Assets Balance

The intangible assets balance as of September 30, 2022, is reflected below (in thousands):

		Weighted-
		Average
	Estimated	Remaining		Gross					Net
	Useful Life	Useful Life		Carrying		Accumulated			Carrying
	(Years)	(Years)		Amount		Amortization			Amount
Customer relationships	16–18		12.6	$	1,299,750	$	(392,029	)	$	907,721
Acquired technologies	3–7		2.0		187,950		(142,511	)		45,439
Subtotal					1,487,700		(534,540	)		953,160
Trademarks—indefinite life					190,470		—			190,470
Total intangible assets				$	1,678,170	$	(534,540	)	$	1,143,630

The intangible assets balance as of December 31, 2021, is reflected below (in thousands):

		Weighted-
		Average
	Estimated	Remaining		Gross					Net
	Useful Life	Useful Life		Carrying		Accumulated			Carrying
	(Years)	(Years)		Amount		Amortization			Amount
Customer relationships	16–18		13.3	$	1,299,750	$	(337,831	)	$	961,919
Acquired technologies	3–7	2.3			183,164		(122,318	)		60,846
Favorable lease terms	6	0.3			280		(266	)		14
Subtotal					1,483,194		(460,415	)		1,022,779
Trademarks—indefinite life					190,470		—			190,470
Total intangible assets				$	1,673,664	$	(460,415	)	$	1,213,249

Schedule of Future Amortization Expense for Intangible Assets

Future amortization expense for the remainder of the year ended December 31, 2022 and the following four years ended December 31 and thereafter for intangible assets as of September 30, 2022, is as follows (in thousands):

Years Ending December 31:
2022	$	24,818
2023		99,003
2024		81,417
2025		72,949
2026		72,949
Thereafter		602,024
Total	$	953,160