Business Combinations, Goodwill and Other Intangible Assets (Tables)
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12 Months Ended |
Dec. 31, 2024 |
| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The Company’s purchase price allocation to net tangible and intangible assets of ITI Data as at August 1, 2024 is as follows: | | | | | | | | | | | | | | | | | Intangible assets | | | | | $ | 12,800 | | | Other assets, net | | | | | 220 | | | Goodwill | | | | | 15,335 | | | | | | | | | | | | | | | | | | | | Total purchase consideration (1) | | | | | $ | 28,355 | |
(1) Includes contingent consideration of $2,700 recognized at fair value as of the date of acquisition.
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| Schedule of Goodwill |
The following table sets forth details of changes in goodwill by reportable segment of the Company: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Insurance | | Healthcare | | Emerging Business | | Analytics | | Total | | Balance as of January 1, 2023 | $ | 49,929 | | | $ | 21,875 | | | $ | 47,101 | | | $ | 286,732 | | | $ | 405,637 | | | | | | | | | | | | | | | | | | | | | | | Currency translation adjustments | 106 | | | (3) | | | (100) | | | (1) | | | 2 | | | Balance as of December 31, 2023 | 50,035 | | | 21,872 | | | 47,001 | | | 286,731 | | | 405,639 | | | Acquisition | — | | | — | | | — | | | 22,035 | | | 22,035 | | | Measurement period adjustments | — | | | — | | | — | | | (6,700) | | | (6,700) | | | Currency translation adjustments | (50) | | | (5) | | | (531) | | | (1) | | | (587) | | | Balance as of December 31, 2024 | $ | 49,985 | | | $ | 21,867 | | | $ | 46,470 | | | $ | 302,065 | | | $ | 420,387 | |
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| Schedule of Indefinite Lived Intangible Assets |
Information regarding the Company’s intangible assets is set forth below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2024 | | As of December 31, 2023 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Finite-lived intangible assets: | | | | | | | | | | | | | Customer relationships | $ | 108,550 | | | $ | (60,667) | | | $ | 47,883 | | | $ | 99,050 | | | $ | (51,085) | | | $ | 47,965 | | | Developed technology | 3,529 | | | (3,311) | | | 218 | | | 3,552 | | | (2,522) | | | 1,030 | | | Trade names and trademarks | 1,700 | | | (1,442) | | | 258 | | | 1,400 | | | (1,286) | | | 114 | | | Non-compete agreements | 300 | | | (228) | | | 72 | | | 336 | | | (181) | | | 155 | | | 114,079 | | | (65,648) | | | 48,431 | | | 104,338 | | | (55,074) | | | 49,264 | | | Indefinite-lived intangible assets: | | | | | | | | | | | | | Trade names and trademarks | 900 | | | — | | | 900 | | | 900 | | | — | | | 900 | | | Total intangible assets | $ | 114,979 | | | $ | (65,648) | | | $ | 49,331 | | | $ | 105,238 | | | $ | (55,074) | | | $ | 50,164 | |
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| Schedule of Amortization of Intangible Assets |
The amortization expense recognized in the consolidated statements of income was as follows: | | | | | | | | | | | | | | | | | | | Year ended December 31, | | 2024 | | 2023 | | 2022 | | Amortization expense | $ | 13,630 | | | $ | 14,678 | | | $ | 17,109 | |
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| Schedule of Estimated Future Amortization of Intangible Assets |
| | | | | | Estimated future amortization expense related to finite-lived intangible assets as of December 31, 2024 was as follows: | | 2025 | $ | 13,120 | | | 2026 | 12,783 | | | 2027 | 11,844 | | | 2028 | 9,228 | | | 2029 | 1,456 | | | Total | $ | 48,431 | |
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