INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

The Company had goodwill in the amount of $766,545 and $769,509 as of September 30, 2023 and December 31, 2022, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.” The decrease in goodwill is primarily due to foreign currency translation adjustments.

Identifiable intangible assets with finite lives at September 30, 2023 and December 31, 2022 are summarized as follows:

	Amortization Period (in years)	Gross Carrying Amount at September 30, 2023		Accumulated Amortization at September 30, 2023		Gross Carrying Amount at December 31, 2022		Accumulated Amortization at December 31, 2022
Customer relationships & lists	10-20	$	356,329	$	204,001	$	357,131	$	190,576
Trademarks & trade names	2-17	50,034		36,453		50,058		33,416
Developed technology	5-12	40,395		16,883		40,473		16,171
Other	2-18	25,325		22,578		25,041		19,245
		$	472,083	$	279,915	$	472,703	$	259,408

Amortization of identifiable intangible assets was approximately $6,947 and $21,132 for the three and nine months ended September 30, 2023, respectively, and $7,922 and $19,683 for the three and nine months ended September 30, 2022, respectively. Assuming no change in the gross carrying value of identifiable intangible assets, estimated amortization expense is $6,931 for the remainder of 2023, $18,967 for 2024, $15,513 for 2025, $15,342 for 2026, $14,852 for 2027 and $14,454 for 2028. At September 30, 2023 and December 31, 2022, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the nine months ended September 30, 2023 and 2022.