Goodwill and Intangibles Assets (Tables)
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6 Months Ended |
Jun. 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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June 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 |
6.3 |
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$ |
22,054 |
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$ |
(3,034) |
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$ |
19,020 |
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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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(209,876) |
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101,385 |
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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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(12,381) |
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2,419 |
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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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(124,037) |
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4,763 |
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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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(959) |
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341 |
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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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$ |
478,215 |
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$ |
(350,287) |
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$ |
127,928 |
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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 June 30, |
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Six Months Ended June 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 |
$ |
9,865 |
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$ |
10,762 |
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$ |
20,712 |
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$ |
21,527 |
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| Research and development |
1 |
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1 |
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2 |
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2 |
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| Selling, general and administrative |
2,926 |
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5,815 |
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9,102 |
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11,885 |
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$ |
12,792 |
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$ |
16,578 |
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$ |
29,816 |
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$ |
33,414 |
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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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Six Months Ended June 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 |
5,204 |
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1,112 |
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| Transfers to developed technology from IPR&D |
2,600 |
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— |
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| Amortization |
(29,816) |
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(33,414) |
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| Ending balance |
$ |
127,928 |
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$ |
167,764 |
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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 June 30, 2022:
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Amount |
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(in thousands) |
| 2022 (6 months) |
$ |
21,956 |
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| 2023 |
40,315 |
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| 2024 |
25,107 |
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| 2025 |
13,772 |
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| 2026 |
12,661 |
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| Thereafter |
14,117 |
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| Total |
$ |
127,928 |
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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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Six Months Ended June 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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$ |
2,600 |
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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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$ |
2,600 |
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