| Schedule of Intangible Assets and Goodwill |
The carrying amounts of goodwill and intangible assets consisted of the following as of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
(in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
410,210 |
|
|
$ |
(163,586 |
) |
|
$ |
246,624 |
|
Developed technologies |
|
|
78,434 |
|
|
|
(33,769 |
) |
|
|
44,665 |
|
Tradenames |
|
|
36,062 |
|
|
|
(9,379 |
) |
|
|
26,683 |
|
Database |
|
|
50,221 |
|
|
|
(45,072 |
) |
|
|
5,149 |
|
Total finite-lived intangible assets |
|
|
574,927 |
|
|
|
(251,806 |
) |
|
|
323,121 |
|
Goodwill |
|
|
1,075,080 |
|
|
|
— |
|
|
|
1,075,080 |
|
Total goodwill and intangible assets |
|
$ |
1,650,007 |
|
|
$ |
(251,806 |
) |
|
$ |
1,398,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
(in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
409,430 |
|
|
$ |
(128,745 |
) |
|
$ |
280,685 |
|
Developed technologies |
|
|
56,965 |
|
|
|
(25,514 |
) |
|
|
31,451 |
|
Tradenames |
|
|
35,914 |
|
|
|
(7,150 |
) |
|
|
28,764 |
|
Database |
|
|
50,215 |
|
|
|
(40,393 |
) |
|
|
9,822 |
|
Total finite-lived intangible assets |
|
|
552,524 |
|
|
|
(201,802 |
) |
|
|
350,722 |
|
Goodwill |
|
|
1,324,733 |
|
|
|
— |
|
|
|
1,324,733 |
|
Total goodwill and Intangible assets |
|
$ |
1,877,257 |
|
|
$ |
(201,802 |
) |
|
$ |
1,675,455 |
|
|
| Schedule of Future Amortization Expense |
Estimated total intangible amortization expense during the next five years and thereafter is as follows:
|
|
|
|
|
(in thousands) |
|
|
|
2024 |
|
$ |
48,420 |
|
2025 |
|
|
45,911 |
|
2026 |
|
|
39,271 |
|
2027 |
|
|
33,323 |
|
2028 |
|
|
29,555 |
|
Thereafter |
|
|
126,641 |
|
Total |
|
$ |
323,121 |
|
|
| Schedule of Goodwill |
As of December 31, 2023 and 2022, goodwill consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
(in thousands) |
|
2023 |
|
|
2022 |
|
Goodwill - beginning of year |
|
$ |
1,324,733 |
|
|
$ |
1,263,075 |
|
Goodwill acquired during year |
|
|
37,747 |
|
|
|
61,658 |
|
Goodwill impairment loss |
|
|
(287,400 |
) |
|
|
— |
|
Goodwill - end of year |
|
$ |
1,075,080 |
|
|
$ |
1,324,733 |
|
|