Goodwill

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The following table sets forth the carrying amount and activity of goodwill as of September 30, 2023:


	Amount
Balance as of December 31, 2022	$	136,463
Acquisitions (Note 2)	173,768

Measurement period adjustment for current year acquisitions	225
Effect of exchange rate on goodwill	(931)
Balance as of September 30, 2023	$	309,525

The change in goodwill is primarily driven by $173,993 increase during the nine months ended September 30, 2023 due to acquisition of Silicon Radar, GEO and Exalos that were completed during the period, as well as a $931 decrease in value due to effect of exchange rate on goodwill. See Note 2 — Business Combinations for a detailed discussion of goodwill acquired.

The Company tests its goodwill for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill may be impaired. There were no indicators of impairment noted during the nine months ended September 30, 2023.