Goodwill and Intangible Assets (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Goodwill |
The following table presents the changes in the carrying amount of goodwill for the periods indicated:
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Years Ended December 31, |
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2021 |
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2020 |
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(in thousands) |
| Beginning balance |
$ |
302,828 |
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$ |
238,330 |
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| Acquisitions (Note 3) |
3,840 |
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64,498 |
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| Ending balance |
$ |
306,668 |
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$ |
302,828 |
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| Schedule of Acquired Finite-Lived Intangible Assets by Major Class |
The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and other purchases, which are amortized over their estimated useful lives:
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December 31, 2021 |
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December 31, 2020 |
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Weighted
Average
Useful Life
(in Years) |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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Gross Carrying Value |
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Accumulated Amortization |
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Net Carrying Amount |
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(in thousands) |
| Licensed technology |
6.0 |
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$ |
16,850 |
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$ |
(2,218) |
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$ |
14,632 |
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$ |
4,869 |
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$ |
(2,006) |
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$ |
2,863 |
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| Developed technology |
7.0 |
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308,661 |
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(189,244) |
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119,417 |
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304,061 |
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(146,252) |
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157,809 |
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| Trademarks and trade names |
6.2 |
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14,800 |
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(11,221) |
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3,579 |
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14,800 |
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(8,818) |
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5,982 |
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| Customer relationships |
5.0 |
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128,800 |
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(116,847) |
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11,953 |
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128,800 |
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(96,047) |
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32,753 |
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| Non-compete covenants |
— |
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— |
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— |
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— |
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1,100 |
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(1,100) |
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— |
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| Backlog |
2.4 |
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1,300 |
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(941) |
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359 |
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1,300 |
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(641) |
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659 |
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6.2 |
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$ |
470,411 |
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$ |
(320,471) |
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$ |
149,940 |
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$ |
454,930 |
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$ |
(254,864) |
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$ |
200,066 |
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| Finite-lived Intangible Assets Amortization Expense |
The following table sets forth amortization expense associated with finite-lived intangible assets, which is included in the consolidated statements of operations as follows:
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Years Ended December 31, |
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2021 |
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2020 |
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2019 |
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(in thousands) |
| Cost of net revenue |
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$ |
43,078 |
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$ |
37,784 |
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$ |
33,932 |
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| Research and development |
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4 |
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5 |
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48 |
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| Selling, general and administrative |
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23,625 |
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23,529 |
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23,035 |
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$ |
66,707 |
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$ |
61,318 |
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$ |
57,015 |
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| Schedule of Finite-Lived Intangible Assets |
The following table sets forth the activity related to finite-lived intangible assets:
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Year Ended December 31, |
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2021 |
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2020 |
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(in thousands) |
| Beginning balance |
$ |
200,066 |
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$ |
187,971 |
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| Acquisitions (Note 3) |
4,400 |
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70,700 |
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| Additions |
7,581 |
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2,799 |
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| Amortization |
(66,707) |
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(61,318) |
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| Impairment losses |
— |
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(86) |
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| Ending balance |
$ |
149,940 |
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$ |
200,066 |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
The following table presents future amortization of the Company’s finite-lived intangible assets at December 31, 2021:
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Amount |
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(in thousands) |
| 2022 |
$ |
51,471 |
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| 2023 |
39,677 |
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| 2024 |
24,100 |
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| 2025 |
12,658 |
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| 2026 |
11,547 |
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| Thereafter |
10,487 |
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| Total |
$ |
149,940 |
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| Schedule of Indefinite-Lived Intangible Assets |
Indefinite-lived intangible assets consist entirely of acquired in-process research and development technology, or IPR&D. The following table sets forth the Company’s activities related to indefinite-lived intangible assets:
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Years Ended December 31, |
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2021 |
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2020 |
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(in thousands) |
| Beginning balance |
$ |
7,200 |
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$ |
— |
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| Acquisitions (Note 3) |
— |
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7,200 |
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| Transfers to developed technology from IPR&D |
(4,600) |
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— |
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| Ending balance |
$ |
2,600 |
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$ |
7,200 |
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