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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill And Other Intangible Assets Disclosure [Abstract]  
Changes in Carrying Value of Goodwill

The following table represents the change in the carrying value of goodwill for the three months ended March 31, 2024 (amounts in thousands):

 

Balance at December 31, 2023

 

$

987,120

 

Measurement period adjustment - Metenova

 

 

(56

)

Cumulative translation adjustment

 

 

(1,101

)

Balance at March 31, 2024

 

$

985,963

 

Schedule of Intangible Assets

Intangible assets, net, consisted of the following at March 31, 2024:

 

 

March 31, 2024

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Restated)

 

 

(As Restated)

 

 

(As Restated)

 

 

 

 

Technology - developed

 

$

253,664

 

 

$

(48,507

)

 

$

205,157

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

 

 

 

8

 

Customer relationships

 

 

268,688

 

 

 

(88,043

)

 

 

180,645

 

 

 

16

 

Trademarks

 

 

8,695

 

 

 

(1,914

)

 

 

6,781

 

 

 

19

 

Other intangibles

 

 

3,857

 

 

 

(2,641

)

 

 

1,216

 

 

 

3

 

Total finite-lived intangible assets

 

 

535,144

 

 

 

(141,345

)

 

 

393,799

 

 

 

16

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

 

 

 

700

 

 

 

 

Total intangible assets

 

$

535,844

 

 

$

(141,345

)

 

$

394,499

 

 

 

 

 

Intangible assets, net, consisted of the following at December 31, 2023:

 

 

 

December 31, 2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Restated)

 

 

(As Restated)

 

 

(As Restated)

 

 

 

 

Technology - developed

 

$

256,536

 

 

$

(44,633

)

 

$

211,903

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

 

 

 

8

 

Customer relationships

 

 

269,949

 

 

 

(83,963

)

 

 

185,986

 

 

 

15

 

Trademarks

 

 

8,757

 

 

 

(1,789

)

 

 

6,968

 

 

 

19

 

Other intangibles

 

 

3,914

 

 

 

(2,514

)

 

 

1,400

 

 

 

3

 

Total finite-lived intangible assets

 

 

539,396

 

 

 

(133,139

)

 

 

406,257

 

 

 

15

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

 

 

 

700

 

 

 

 

Total intangible assets

 

$

540,096

 

 

$

(133,139

)

 

$

406,957

 

 

 

 

Schedule of Amortization Expense for Amortized Intangible Assets As of March 31, 2024, the Company expects to record the following amortization expense in future periods (amounts in thousands):

 

 

 

Estimated

 

 

 

Amortization

 

 

 

Expense

 

For the Years Ended December 31,

 

(As Restated)

 

2024 (remaining nine months)

 

$

25,801

 

2025

 

 

34,119

 

2026

 

 

33,660

 

2027

 

 

33,696

 

2028

 

 

33,598

 

2029 and thereafter

 

 

232,925

 

Total

 

$

393,799