v3.25.1
Goodwill and Intangible Assets (Notes)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] Goodwill and Intangible Assets, Net
Goodwill

    The following table presents the changes in the carrying amount of our goodwill (in thousands):
Total
Balance as of January 1, 2025
$1,432,772 
Currency translation22,341 
Balance as of March 31, 2025
$1,455,113 

Intangible Assets, Net
    Intangible assets, carried at cost less accumulated amortization and amortized on a straight-line basis, were as follows (in thousands):
 Weighted-Average Amortization Life in YearsMarch 31, 2025
 CostAccumulated
Amortization		Net
Patents10$37,697 $23,519 $14,178 
Customer contracts129,770 7,050 2,720 
Non-contractual customer relationships8549,630 251,139 298,491 
Trademarks15,425 5,425 — 
Trade name1518,240 8,659 9,581 
Developed technology(1)
10622,438 244,464 377,974 
Non-compete39,100 9,100 — 
Total amortized intangible assets $1,252,300 $549,356 $702,944 
Internally developed software(1)
$13,723 $13,723 
Total intangible assets$1,266,023 $549,356 $716,667 
______________________________
(1) Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

 Weighted-Average Amortization Life in Years
December 31, 2024
 CostAccumulated
Amortization		Net
Patents10$36,811 $22,913 $13,898 
Customer contracts129,818 6,994 2,824 
Non-contractual customer relationships8546,404 236,267 310,137 
Trademarks15,425 5,425 — 
Trade name1518,239 8,357 9,882 
Developed technology(1)
10619,540 227,869 391,671 
Non-compete39,100 9,100 — 
Total amortized intangible assets $1,245,337 $516,925 $728,412 
Internally developed software(2)
$12,377 $12,377 
Total intangible assets$1,257,714 $516,925 $740,789 
_______________________________
(1)    Developed technology primarily consists acquired patented technologies and internally developed software. Upon completion of development, the assets will be amortized over their estimated useful lives.
(2)    Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use. During 2024, we reclassified $33.2 million to developed technology.

Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $32.6 million and $33.1 million during the three months ended March 31, 2025 and 2024, respectively, of which $1.0 million and $0.0 million, respectively, are included in cost of goods sold.

As of March 31, 2025 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):
Remainder of 2025$96,924 
2026129,911 
2027118,732 
2028118,134 
2029115,048 
203052,618 
Thereafter71,577 
Total$702,944