v3.25.0.1
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:
Goodwill
(in thousands)
Balance as of December 31, 2022$1,646,120 
Goodwill acquired42,780 
Foreign currency translation2,927 
Balance as of December 31, 2023$1,691,827 
Goodwill acquired— 
Foreign currency translation(2,042)
Balance as of December 31, 2024$1,689,785 
Intangible assets consisted of the following:
As of December 31, 2024
Weighted-
Average
Remaining
Useful Life
(Years)
Gross
Carrying
Amount
Accumulated
Amortization
Net
(in thousands, except years)
Domain names2.0$745 $(613)$132 
Technology2.3308,333 (238,189)70,144 
Patents8.839,373 (23,286)16,087 
Other6,000 (6,000)— 
Total intangible assets
$354,451 $(268,088)$86,363 
As of December 31, 2023
Weighted-
Average
Remaining
Useful Life
(Years)
Gross
Carrying
Amount
Accumulated
Amortization
Net
(in thousands, except years)
Domain names3.0$745 $(546)$199 
Technology2.8323,313 (197,608)125,705 
Patents8.839,373 (19,099)20,274 
Other6,000 (5,875)125 
Total intangible assets
$369,431 $(223,128)$146,303 
Amortization of intangible assets for the years ended December 31, 2024, 2023, and 2022 was $60.0 million, $81.1 million, and $132.3 million, respectively. We revised the useful lives of certain customer relationships, trademarks, domain names, and technology for the years ended December 31, 2024, 2023 and 2022, which resulted in a $3.2 million, $19.9 million, and $49.3 million increase to amortization expense for the respective years.
As of December 31, 2024, the estimated intangible asset amortization expense for the next five years and thereafter is as follows:
Estimated
Amortization
(in thousands)
Year ending December 31,
2025$41,513 
202620,299 
202712,124 
20284,343 
20291,335 
Thereafter6,749 
Total$86,363