Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table represents changes in the carrying amount of goodwill:

	(In thousands)
Balance as of December 31, 2022	$	734,274
Foreign currency exchange rate fluctuations	1,536
Balance as of December 31, 2023	735,810
Foreign currency exchange rate fluctuations	(1,083)
Balance as of December 31, 2024	$	734,727

Intangible Assets, Net

The carrying amounts and useful lives of intangible assets were as follows:

	December 31, 2024
	Gross carrying amount (1)		Accumulated amortization		Foreign currency exchange rate fluctuations		Net carrying amount		Useful life (years)
	(In thousands, except for years)
Customer relationships	$	307,418	$	(133,111)	$	(1,373)	$	172,934	4 - 30
Acquired technology	46,134		(32,421)		—		13,713		4 - 20
Trade names	2,400		(1,580)		—		820		5
Patents	2,291		(1,492)		—		799		2 - 20
Total intangible assets, net	$	358,243	$	(168,604)	$	(1,373)	$	188,266

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(1)    The differences in gross carrying amounts between periods are primarily due to the write-off of certain fully amortized intangible assets.

	December 31, 2023
	Gross carrying amount		Accumulated amortization		Foreign currency exchange rate fluctuations		Net carrying amount		Useful life (years)
	(In thousands, except for years)
Customer relationships	$	307,418	$	(115,232)	$	(1,326)	$	190,860	4 - 30
Acquired technology	84,876		(67,033)		—		17,843		4 - 20
Backlog	1,800		(1,800)		—		—		2
Trade names	9,200		(7,680)		—		1,520		5 - 12
Patents	2,404		(1,454)		—		950		2 - 20
Total intangible assets, net	$	405,698	$	(193,199)	$	(1,326)	$	211,173

Amortization expense of intangible assets was $22.8 million, $31.6 million, and $35.2 million for the years ended December 31, 2024, 2023, and 2022, respectively.

The estimated future amortization expenses for amortizable intangible assets were as follows:

	December 31, 2024
	(In thousands)
2025	$	20,999
2026	18,068
2027	16,218
2028	15,183
2029	11,490
Thereafter	106,308
Total	$	188,266