Goodwill and Intangibles Assets (Tables)
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3 Months Ended |
Mar. 31, 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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March 31, 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 |
6.2 |
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$ |
21,487 |
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$ |
(2,623) |
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$ |
18,864 |
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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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308,661 |
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(200,055) |
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108,606 |
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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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(11,821) |
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2,979 |
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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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(122,047) |
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6,753 |
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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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(949) |
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351 |
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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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$ |
475,048 |
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$ |
(337,495) |
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$ |
137,553 |
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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 March 31, |
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2022 |
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2021 |
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(in thousands) |
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| Cost of net revenue |
$ |
10,847 |
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$ |
10,765 |
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| Research and development |
1 |
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1 |
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| Selling, general and administrative |
6,176 |
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6,070 |
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$ |
17,024 |
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$ |
16,836 |
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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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Three Months Ended March 31, |
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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 |
4,637 |
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1,112 |
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| Amortization |
(17,024) |
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(16,836) |
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| Ending balance |
$ |
137,553 |
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$ |
184,342 |
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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 March 31, 2022:
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Amount |
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(in thousands) |
| 2022 (9 months) |
$ |
34,480 |
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| 2023 |
39,934 |
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| 2024 |
24,655 |
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| 2025 |
13,320 |
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| 2026 |
12,209 |
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| Thereafter |
12,955 |
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| Total |
$ |
137,553 |
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