Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets Goodwill and Intangible Assets (Notes)

v3.4.0.3
Goodwill and Intangible Assets Goodwill and Intangible Assets (Notes)
3 Months Ended
Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets

Goodwill

We had no changes in the carrying amount of goodwill in the three months ended March 31, 2016. The carrying value of goodwill was $49.8 million as of March 31, 2016.    

Goodwill is not amortized, but is tested for impairment using a two-step method on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair market value of the reporting unit. No goodwill impairment was recognized as of March 31, 2016.
Acquired Intangibles
Finite-lived Intangible Assets
The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and technology licenses purchased, which continue to be amortized:
 
 
 
March 31, 2016
 
December 31, 2015
 
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
3
 
$
2,921

 
$
(2,813
)
 
$
108

 
$
2,921

 
$
(2,725
)
 
$
196

Developed technology
7
 
47,000

 
(6,331
)
 
40,669

 
47,000

 
(4,652
)
 
42,348

Trademarks and trade names
7
 
1,700

 
(222
)
 
1,478

 
1,700

 
(162
)
 
1,538

Customer relationships
5
 
4,700

 
(862
)
 
3,838

 
4,700

 
(627
)
 
4,073

Backlog
1
 
24,200

 
(24,200
)
 

 
24,200

 
(24,200
)
 

 
 
 
$
80,521

 
$
(34,428
)
 
$
46,093

 
$
80,521

 
$
(32,366
)
 
$
48,155



The amortization expense related to intangible assets in the three months ended March 31, 2016 and 2015 was $2.1 million and $0.2 million, respectively. There were no additions to intangible assets or impairments of intangible assets in the three months ended March 31, 2016.

The following table presents future amortization of the Company’s intangible assets at March 31, 2016:
 
Amortization
(in thousands)
2016 (nine months)
$
5,981

2017
7,931

2018
7,914

2019
7,897

2020
7,270

Thereafter
9,100

Total
$
46,093



Indefinite-lived Intangible Assets
In the three months ended March 31, 2016, there were no additions to, impairments of, or transfers of acquired indefinite-lived intangible assets, or IPR&D. The carrying value of IPR&D was $3.2 million at March 31, 2016.