Intangible Assets, Net and Goodwill |
Intangible Assets, Net and Goodwill The following table presents details of purchased intangible assets as of December 31, 2020 and 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Remaining Weighted Average Useful Life | | | | | | | | | | | | (in thousands) | | (in years) | Intangible assets subject to amortization: | | | | | | | | | Acquired license | | $ | 11,886 | | | $ | (1,367) | | | $ | 10,519 | | | 9.8 | Non-compete agreements and other covenant rights | | 5,100 | | | (1,064) | | | 4,036 | | | 4.9 | Total intangible assets subject to amortization | | 16,986 | | | (2,431) | | | 14,555 | | | | Intangible assets not subject to amortization: | | | | | | | | | IPR&D | | 1,600 | | | — | | | 1,600 | | | | Goodwill | | 3,290 | | | — | | | 3,290 | | | | Total purchased intangible assets | | $ | 21,876 | | | $ | (2,431) | | | $ | 19,445 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Remaining Weighted Average Useful Life | | | | | | | | | | | | (in thousands) | | (in years) | Intangible assets subject to amortization: | | | | | | | | | Acquired license | | $ | 5,100 | | | $ | (373) | | | $ | 4,727 | | | 9.5 | Non-compete agreements | | 2,500 | | | (303) | | | 2,197 | | | 5.5 | Total intangible assets subject to amortization | | 7,600 | | | (676) | | | 6,924 | | | | Intangible assets not subject to amortization: | | | | | | | | | IPR&D | | 1,600 | | | — | | | 1,600 | | | | Goodwill | | 3,290 | | | — | | | 3,290 | | | | Total purchased intangible assets | | $ | 12,490 | | | $ | (676) | | | $ | 11,814 | | | |
Amortization of finite-lived intangible assets was $1.8 million and $0.7 million for the year ended December 31, 2020 and 2019, respectively. There were no intangible assets as of December 31, 2018. The following table summarizes estimated future amortization expense of finite-lived intangible assets—net: | | | | | | | | | Year Ending December 31, | | | | | (in thousands) | 2021 | | $ | 1,947 | | 2022 | | 1,947 | | 2023 | | 1,947 | | 2024 | | 1,953 | | 2025 | | 1,705 | | 2026 and thereafter | | 5,056 | | Total | | $ | 14,555 | |
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