Goodwill and Intangible Assets (Notes)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets, Net

Goodwill

    The following table presents the changes in the carrying amount of our goodwill (in thousands):

	Total
Balance as of January 1, 2023	$	1,449,258
Currency translation	(4,802)
Balance as of September 30, 2023	$	1,444,456

Intangible Assets, Net

    Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows (in thousands):

	Weighted-Average Amortization Life in Years	September 30, 2023
		Cost		Accumulated Amortization		Net
Patents	10	$	32,741	$	20,107	$	12,634
Customer contracts	12	9,860		6,631		3,229
Non-contractual customer relationships	8	545,192		151,573		393,619
Trademarks	1	5,425		5,425		—
Trade name	15	18,243		6,852		11,391
Developed technology	10	583,845		152,444		431,401
Non-compete	3	9,100		6,900		2,200
Total amortized intangible assets		$	1,204,406	$	349,932	$	854,474
Internally developed software*		$	36,806			$	36,806
Total intangible assets		$	1,241,212	$	349,932	$	891,280

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* Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

	Weighted-Average Amortization Life in Years	December 31, 2022
		Cost		Accumulated Amortization		Net
Patents	10	$	29,998	$	18,610	$	11,388
Customer contracts	12	10,026		6,443		3,583
Non-contractual customer relationships	8	546,935		101,556		445,379
Trademarks	1	5,425		5,425		—
Trade name	15	18,251		5,959		12,292
Developed technology	10	583,176		108,708		474,468
Non-compete	3	9,100		5,250		3,850
Total amortized intangible assets		$	1,202,911	$	251,951	$	950,960
Internally developed software*		$	31,806			$	31,806
Total intangible assets		$	1,234,717	$	251,951	$	982,766

______________________________

* Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $33.4 million and $98.8 million during the three and nine months ended September 30, 2023, respectively, and $35.6 million and $108.9 million during the three and nine months ended September 30, 2022, respectively.

As of September 30, 2023 estimated annual amortization for our intangible assets for each of the next five years is approximately (in thousands):

Remainder of 2023	$	32,407
2024	131,060
2025	123,490
2026	122,832
2027	112,782
2028	112,184
Thereafter	219,719
Total	$	854,474