v3.24.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amounts of Goodwill
The changes in carrying amounts of goodwill for the nine months ended September 30, 2024 are as follows (in thousands):
Amount
Balance as of January 1, 2024
$348,822 
Foreign exchange translation632 
Balance as of September 30, 2024$349,454 
As of September 30, 2024 the Company’s goodwill had no accumulated impairment.
Intangible Assets with Indefinite Lives
Intangible assets are summarized as of September 30, 2024 and December 31, 2023 as follows (in thousands):
September 30, 2024December 31, 2023
Trade names$27,375 $27,367 
Other4,045 4,045 
Total$31,420 $31,412 
Intangible Assets Subject to Amortization
As of September 30, 2024, intangible assets subject to amortization are summarized as follows (in thousands):
Weighted-Average Remaining
  Amortization
Period
Historical
Cost		Accumulated
Amortization		Net
Trade names0.3 years$8,215 $7,901 $314 
Patent and patent licenses0.0 years54,341 54,341 — 
Customer relationships (1)
2.2 years108,604 99,652 8,952 
Other purchased intangibles 1.3 years11,927 10,412 1,515 
Total
 $183,087 $172,306 $10,781 
(1) The Company amortizes its customer relationship assets in a pattern that best reflects the pace in which the assets’ benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first four to five years, which may not correlate to the overall life of the asset.

    As of December 31, 2023, intangible assets subject to amortization are summarized as follows (in thousands):
Weighted-Average Remaining
  Amortization
Period
Historical
Cost		Accumulated
Amortization		Net
Trade names0.3 years$8,199 $7,789 $410 
Patent and patent licenses0.0 years54,341 54,341 — 
Customer relationships (1)
2.6 years108,417 97,333 11,084 
Other purchased intangibles 1.8 years11,989 9,905 2,084 
Total$182,946 $169,368 $13,578 
(1) The Company amortizes its customer relationship assets in a pattern that best reflects the pace in which the assets’ benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first four to five years, which may not correlate to the overall life of the asset.
Estimated Intangible Assets Amortization Expense
Expected amortization expenses for intangible assets subject to amortization at September 30, 2024 are as follows (in thousands):
Fiscal Year:Amount
2024 (remainder)
$911 
20252,600 
20262,093 
20271,395 
2028
986 
Thereafter2,796 
Total$10,781