XML 56 R18.htm IDEA: XBRL DOCUMENT v3.25.0.1
Identifiable Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Identifiable Intangible Assets and Goodwill Identifiable Intangible Assets and Goodwill
The components of identifiable intangible assets are:

December 31,
(in thousands)20242023Estimated Useful LifeWeighted-Average Amortization Period
Acquired developed technology$181,600 $119,800 
3 - 7 years
4.28 years
Internally developed software costs42,353 34,735 3 years2.63 years
Customer relationships115,910 14,510 
5 - 15 years
9.00 years
Trade names3,210 1,410 
2 - 8 years
7.58 years
Non-competition agreements7,230 30 
1 - 5 years
4.25 years
350,303 170,485 
Impact of currency translation on intangible assets(5,557)1,399 
Less: accumulated amortization(119,900)(87,001)
$224,846 $84,883 
Internally developed software costs not meeting general release threshold1,287 2,886 
Trademarks, trade names (non-amortizable)11,200 6,200 Indefinite
$237,333 $93,969  

Internally developed software costs not meeting general release threshold will be ready for their intended use within the next 12 months. Software costs placed into service during the years ended December 31, 2024 and 2023 were $7.6 million and $4.6 million, respectively. Annual amortization charged to cost of sales is computed using the straight-line method over the remaining estimated economic life of the product, generally three years.

The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software costs not meeting the general release threshold, is as follows:

(in thousands)
2025$42,738 
202640,726 
202736,239 
202824,958 
202918,061 
Thereafter62,124 
Total$224,846 

Amortization expense for identifiable intangible assets was allocated as follows:

(in thousands)202420232022
Amortization of acquired developed technology$20,500 $16,281 $15,307 
Amortization of internally developed software4,982 6,167 6,349 
Amortization of identifiable intangible assets recorded in cost of sales$25,482 $22,448 $21,656 
Amortization expense recorded in operating expense8,452 1,858 1,863 
Impact of currency translation on intangible assets359 (909)(304)
The following table presents the goodwill activities for the periods presented:

(in thousands)
Beginning balance - December 31, 2022$486,026 
Foreign currency translation2,892 
Balance - December 31, 2023488,918 
Stuzo Acquisition134,112 
TASK Group Acquisition182,042 
Delaget Acquisition97,017 
Foreign currency translation(14,630)
Ending balance - December 31, 2024$887,459 
Refer to "Note 2 - Acquisitions" for additional information on goodwill recognized in acquisitions