Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2025

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, 2024	$	734,727
Foreign currency exchange rate fluctuations	3,145
Balance as of September 30, 2025	$	737,872

Intangible Assets, Net

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

	September 30, 2025
	Gross carrying amount (1)		Accumulated amortization		Foreign currency exchange rate fluctuations		Net carrying amount		Useful life (years)
	(In thousands, except for years)
Customer relationships	$	306,419	$	(144,928)	$	(1,316)	$	160,175	10 - 30
Acquired technology	45,379		(34,649)		—		10,730		4 - 20
Trade names	2,400		(1,940)		—		460		5
Patents	1,681		(1,002)		—		679		2 - 20
Total intangible assets, net	$	355,879	$	(182,519)	$	(1,316)	$	172,044

 

	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.

Amortization expense of intangible assets was $5.3 million and $5.6 million for the three months ended September 30, 2025 and 2024, respectively, and $16.4 million and $17.3 million for the nine months ended September 30, 2025 and 2024, respectively.

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

	September 30, 2025
	(In thousands)
Remaining three months of 2025	$	4,865
2026	18,037
2027	16,216
2028	15,145
2029	13,647
Thereafter	104,134
Total	$	172,044