Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2021

Intangible Assets and Goodwill

Intangible Assets and Goodwill

9. Intangible Assets and Goodwill

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of March 31, 2021 were as follows (in thousands):

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization		Total
Acquired technology	10 years	$	13,092	$	(4,260)	$	8,832
Customer relationships, Non-compete agreements, Backlog & Trademark	6 years		890		(329)		561
In process research and development	Indefinite		29,000		—		29,000
		$	42,982	$	(4,589)	$	38,393

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2020 were as follows (in thousands):

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization		Total
Acquired technology	10 years	$	13,697	$	(4,042)	$	9,655
Customer relationships, Non-compete agreements, Backlog & Trademark	6 years		890		(294)		596
In process research and development	Indefinite		29,000		—		29,000
		$	43,587	$	(4,336)	$	39,251

The change in the gross carrying amount of the acquired technology from December 31, 2020 to March 31, 2021 was primarily due to foreign currency translation.

Amortization expense for acquired identifiable intangible assets for the three months ended March 31, 2021 and 2020 was $0.4 million and $0.2 million, respectively.

The estimated amortization expense for subsequent years is as follows (in thousands):

Remainder of 2021	$	1,093
2022		1,458
2023		1,458
2024		1,436
2025 and thereafter		3,948
Total	$	9,393

Goodwill was $72.0 million and $72.4 million as of March 31, 2021 and December 31, 2020 respectively, which decreased $400 thousand due to currency translation loss for HyPulsion S.A.S., our French subsidiary goodwill.  There were no impairments during the three months ended March 31, 2021 or the year ended December 31, 2020.