|3 Months Ended|
Mar. 31, 2022
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill||GoodwillThe carrying value of goodwill, as of March 31, 2022 and December 31, 2021, was $373.8 million and $363.3 million, respectively. No goodwill impairment was recorded during the three months ended March 31, 2022 or the year ended December 31, 2021.
The goodwill of the acquired companies is primarily related to expected improvements in technology performance and functionality, as well as sales growth from future product and service offerings and new customers, together with certain intangible assets that do not qualify for separate recognition. The goodwill of acquired companies is generally not deductible for tax purposes.
The following table summarizes goodwill activity:
The entire disclosure for goodwill.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef