The following table reflects the changes in the carrying amount of goodwill (in thousands):


	Carrying Amount
Balance at January 1, 2026	$	4,168,967
Additions due to acquisitions	39,843
Foreign currency translation adjustments	(78,661)
Balance at September 30, 2026	$	4,130,149

There was no impairment recognized against goodwill at the beginning or end of the period presented, and no measurement period adjustments during the period presented.

Intangible assets, net excludes internally developed software and crypto assets, which are presented in Software and equipment, net within Note 13. Condensed Consolidated Balance Sheets Details and in the various crypto assets held line items within the Condensed Consolidated Balance Sheets, respectively.

The effects of amortization of Intangible assets, net on the Condensed Consolidated Statements of Operations were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Technology and development	$	14,287	$	9,301	$	45,427	$	12,998
Sales and marketing	17,724		10,833		53,517		10,833
General and administrative	1,791		702		5,314		7,400
Total amortization expense	$	33,802	$	20,836	$	104,258	$	31,231

There were no material impairment charges associated with these assets during these periods. The Company estimates no significant residual value related to these amortizing intangible assets.

The expected future amortization expense for amortizing intangible assets for the 12-month period ending September 30 of the respective year, as of September 30, 2026, is as follows (in thousands):


2027	$	142,479
2028	139,126
2029	117,380
2030	116,572
2031	113,522
Thereafter	626,911
Total expected future amortization expense	$	1,255,990