Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles Assets (Tables)

v3.23.1
Goodwill and Intangibles Assets (Tables)
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill The following table presents the changes in the carrying amount of goodwill for the periods indicated:
Three Months Ended March 31,
2023 2022
(in thousands)
Beginning balance $ 306,739  $ 306,668 
Acquisitions (Note 3)
 12,171  — 
Adjustments —  45 
Ending balance $ 318,910  $ 306,713 
Summary 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:
March 31, 2023 December 31, 2022
Weighted
Average
Useful Life
(in Years)		 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount
(in thousands)
Licensed technology 6.9 $ 19,187  $ (717) $ 18,470  $ 21,764  $ (580) $ 21,184 
Developed technology 6.9 311,261  (237,854) 73,407  311,261  (228,532) 82,729 
Trademarks and trade names 6.2 14,800  (14,001) 799  14,800  (13,461) 1,339 
Customer relationships 5.0 128,800  (125,192) 3,608  128,800  (124,807) 3,993 
Backlog 5.3 500  (432) 68  500  (429) 71 
6.1 $ 474,548  $ (378,196) $ 96,352  $ 477,125  $ (367,809) $ 109,316 
Summary of 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:
Three Months Ended March 31,
2023 2022
(in thousands)
Cost of net revenue $ 9,458  $ 10,847 
Research and development 1  1 
Selling, general and administrative 928  6,176 
$ 10,387  $ 17,024 
Summary of Finite-Lived Intangible Assets The following table sets forth the activity related to finite-lived intangible assets:
Three Months Ended March 31,
2023 2022
(in thousands)
Beginning balance $ 109,316  $ 149,940 
Additions 630  4,637 
Other disposals (769) — 
Amortization (10,387) (17,024)
Impairment losses (2,438) — 
Ending balance $ 96,352  $ 137,553 
Sumamry 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, 2023:
Amount
(in thousands)
2023 (9 months) $ 28,272 
2024 23,738 
2025 14,044 
2026 12,935 
2027 9,087 
Thereafter 8,276 
Total $ 96,352