| Schedule of Changes in Goodwill |
The following table summarizes changes in goodwill during the nine months ended September 30, 2023, and the twelve months ended December 31, 2022 (in thousands):
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|
|
|
|
|
| Goodwill: |
|
| Balance at December 31, 2021 |
$ |
786,504
|
|
| Additions |
64,997 |
|
| Measurement adjustments |
(9) |
|
| Adjustments due to currency translation |
(4,788) |
|
| Balance at December 31, 2022 |
846,704
|
|
| Additions |
209,487 |
|
| Measurement adjustments |
522 |
|
| Adjustments due to currency translation |
(2,748) |
|
| Balance at September 30, 2023 |
$ |
1,053,965
|
|
|
| Schedule of Components of Indefinite-lived and Amortizable Intangible Assets |
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of September 30, 2023, and December 31, 2022 (in thousands):
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September 30, 2023 |
|
December 31, 2022 |
|
|
|
Gross |
|
Accumulated
Amortization |
|
Carrying
Value |
|
Gross |
|
Accumulated
Amortization |
|
Carrying
Value |
|
Useful Life
in Years |
| Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer contracts |
$ |
623,917 |
|
|
$ |
(221,568) |
|
|
$ |
402,349 |
|
|
$ |
502,689 |
|
|
$ |
(204,130) |
|
|
$ |
298,559 |
|
|
3-20 |
| Trademarks and tradenames |
19,805 |
|
|
(9,322) |
|
|
10,483 |
|
|
17,351 |
|
|
(10,009) |
|
|
7,342 |
|
|
7-20 |
| Non-compete agreements |
14,141 |
|
|
(9,118) |
|
|
5,023 |
|
|
14,180 |
|
|
(8,226) |
|
|
5,954 |
|
|
3-20 |
| Patents |
6,888 |
|
|
(6,877) |
|
|
11 |
|
|
6,934 |
|
|
(6,802) |
|
|
132 |
|
|
3-15 |
| Other assets |
1,904 |
|
|
(1,830) |
|
|
74 |
|
|
2,016 |
|
|
(1,786) |
|
|
230 |
|
|
10 |
| Total amortizable intangible assets |
$ |
666,655 |
|
|
$ |
(248,715) |
|
|
417,940 |
|
|
$ |
543,170 |
|
|
$ |
(230,953) |
|
|
312,217 |
|
|
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trademarks and tradenames |
|
|
|
|
139,732 |
|
|
|
|
|
|
104,304 |
|
|
|
| Internet domains |
|
|
|
|
2,227 |
|
|
|
|
|
|
2,227 |
|
|
|
| Total indefinite-lived intangible assets |
|
|
|
|
141,959 |
|
|
|
|
|
|
106,531 |
|
|
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| Total customer contracts and other intangible assets |
|
|
|
|
$ |
559,899 |
|
|
|
|
|
|
$ |
418,748 |
|
|
|
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| Schedule of Estimated Amortization Expense |
Estimated amortization expense for the existing carrying amount of customer contracts and other intangible assets for each of the five succeeding fiscal years as of September 30, 2023 are as follows:
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|
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| (in thousands) |
|
| 2023 (excluding the nine months ended September 30, 2023) |
$ |
19,946 |
|
| 2024 |
76,652 |
|
| 2025 |
67,846 |
|
| 2026 |
64,311 |
|
| 2027 |
60,592 |
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