Goodwill and Intangibles Assets (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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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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September 30, 2022 |
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December 31, 2021 |
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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 |
5.6 |
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$ |
27,290 |
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$ |
(3,550) |
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$ |
23,740 |
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$ |
16,850 |
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$ |
(2,218) |
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$ |
14,632 |
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| Developed technology |
7.0 |
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311,261 |
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(219,207) |
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92,054 |
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308,661 |
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(189,244) |
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119,417 |
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| Trademarks and trade names |
6.2 |
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14,800 |
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(12,921) |
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1,879 |
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14,800 |
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(11,221) |
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3,579 |
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| Customer relationships |
5.0 |
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128,800 |
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(124,422) |
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4,378 |
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128,800 |
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(116,847) |
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11,953 |
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| Backlog |
2.4 |
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1,300 |
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(1,209) |
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91 |
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1,300 |
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(941) |
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359 |
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6.2 |
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$ |
483,451 |
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$ |
(361,309) |
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$ |
122,142 |
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$ |
470,411 |
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$ |
(320,471) |
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$ |
149,940 |
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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 income as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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(in thousands) |
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(in thousands) |
| Cost of net revenue |
$ |
9,480 |
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$ |
10,761 |
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$ |
30,192 |
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$ |
32,288 |
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| Research and development |
1 |
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1 |
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3 |
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3 |
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| Selling, general and administrative |
1,541 |
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5,812 |
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10,643 |
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17,697 |
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$ |
11,022 |
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$ |
16,574 |
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$ |
40,838 |
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$ |
49,988 |
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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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Nine Months Ended September 30, |
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2022 |
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2021 |
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(in thousands) |
| Beginning balance |
$ |
149,940 |
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$ |
200,066 |
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| Additions |
10,440 |
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6,616 |
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| Transfers to developed technology from IPR&D |
2,600 |
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— |
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| Amortization |
(40,838) |
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(49,988) |
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| Ending balance |
$ |
122,142 |
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$ |
156,694 |
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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 September 30, 2022:
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Amount |
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(in thousands) |
| 2022 (3 months) |
$ |
10,938 |
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| 2023 |
40,580 |
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| 2024 |
25,855 |
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| 2025 |
14,520 |
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| 2026 |
13,410 |
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| Thereafter |
16,839 |
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| Total |
$ |
122,142 |
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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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Nine Months Ended September 30, |
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2022 |
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2021 |
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(in thousands) |
| Beginning balance |
$ |
2,600 |
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$ |
7,200 |
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| Transfers to developed technology from IPR&D |
(2,600) |
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— |
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| Ending balance |
$ |
— |
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$ |
7,200 |
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