Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles Assets (Tables)

v3.23.2
Goodwill and Intangibles Assets (Tables)
 6 Months Ended
Jun. 30, 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:
Six Months Ended June 30,
2023 2022
(in thousands)
Beginning balance $ 306,739  $ 306,668 
Acquisitions (Note 3)
 11,717  — 
Adjustments —  71 
Ending balance $ 318,456  $ 306,739 
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:
June 30, 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 $ 19,300  $ (934) $ 18,366  $ 21,764  $ (580) $ 21,184 
Developed technology 6.9 311,261  (246,970) 64,291  311,261  (228,532) 82,729 
Trademarks and trade names 6.2 14,800  (14,205) 595  14,800  (13,461) 1,339 
Customer relationships 5.0 128,800  (125,577) 3,223  128,800  (124,807) 3,993 
Backlog 5.3 500  (439) 61  500  (429) 71 
Patents 7.0 4,781  (114) 4,667  —  —  — 
6.1 $ 479,442  $ (388,239) $ 91,203  $ 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 operations as follows:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(in thousands) (in thousands)
Cost of net revenue $ 9,333  $ 9,865  $ 18,791  $ 20,712 
Research and development 1  1  2  2 
Selling, general and administrative 709  2,926  1,637  9,102 
$ 10,043  $ 12,792  $ 20,430  $ 29,816 
Summary of Finite-Lived Intangible Assets The following table sets forth the activity related to finite-lived intangible assets:
Six Months Ended June 30,
2023 2022
(in thousands)
Beginning balance $ 109,316  $ 149,940 
Additions 5,524  5,204 
Other disposals (769) — 
Transfers to developed technology from IPR&D —  2,600 
Amortization (20,430) (29,816)
Impairment losses (2,438) — 
Ending balance $ 91,203  $ 127,928 
Summary 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, 2023:
Amount
(in thousands)
2023 (6 months) $ 18,526 
2024 24,427 
2025 14,743 
2026 13,634 
2027 9,786 
Thereafter 10,087 
Total $ 91,203