INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2024

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL

NOTE 11.           INTANGIBLE ASSETS AND GOODWILL

Intangible assets consisted of the following:

	December 31, 2024
	Gross Carrying		Accumulated		Net Carrying		Weighted Average Remaining
	Amount		Amortization		Amount		Useful Life (in years)
	(in thousands)
Technology	$	99,875	$	(69,979)	$	29,896	7.0
Customer relationships		168,908		(70,913)		97,995	8.5
Trademarks and other		27,062		(15,562)		11,500	4.6
Total	$	295,845	$	(156,454)	$	139,391	7.9
	December 31, 2023
	Gross Carrying		Accumulated		Net Carrying		Weighted Average Remaining
	Amount		Amortization		Amount		Useful Life (in years)
	(in thousands)
Technology	$	97,961	$	(60,412)	$	37,549	6.8
Customer relationships		168,685		(58,835)		109,850	9.5
Trademarks and other		27,141		(13,062)		14,079	5.6
Total	$	293,787	$	(132,309)	$	161,478	8.5

Amortization expense related to intangible assets was as follows:

	Years Ended December 31,
	2024		2023		2022
	(in thousands)
Amortization expense	$	26,046	$	28,254	$	26,114

Estimated future amortization expense related to intangibles is as follows:

Year Ending December 31,		(in thousands)
2025	$	22,051
2026		19,967
2027		17,745
2028		16,524
2029		14,939
Thereafter		48,165
Total	$	139,391

The following table summarizes the changes in goodwill:

	December 31,		December 31,
	2024		2023
	(in thousands)
Balance at beginning of period	$	283,840	$	281,433
Additions from acquisition		16,120		—
Measurement period adjustments		—		353
Foreign currency translation and other		(3,958)		2,054
Balance at end of period	$	296,002	$	283,840