Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill GoodwillThe carrying value of goodwill, as of June 30, 2022 and December 31, 2021, was $346.3 million and $363.3 million, respectively. No goodwill impairment was recorded during the six months ended June 30, 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:
Balance as of December 31, 2021
$ 363,305 
Changes in foreign currency translation
Balance as of June 30, 2022
$ 346,337