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Software Development Costs, net
12 Months Ended
Dec. 31, 2021
Research and Development [Abstract]  
Software Development Costs, net

 

7. Software Development Costs, net

 

Software development costs, net consisted of the following:

 

   December 31,
2021
   December 31,
2020
 
   (in millions) 
Software development costs  $160.9   $149.6 
Less: accumulated amortization   (125.3)   (107.2)
Software development Costs, net  $35.6   $42.4 

 

During the years ended December 31, 2021 and 2020, the Company capitalized $13.6 million and $14.6 million of software development costs, respectively. Amounts in the above table include $2.2 million and $0.8 million of internal use software as of December 31, 2021 and 2020, respectively.

 

The total amount of software costs amortized was $20.0 million, $20.0 million and $16.4 million for the years ended December 31, 2021, 2020, and 2019, respectively. Software costs written down to net realizable value amounted to $0.2 million, $0.0 million and $0.4 million for the years ended December 31, 2021, 2020 and 2019, respectively. The weighted average amortization period was 3.3 years, 3.2 years and 3.0 years for the years ended December 31, 2021, 2020 and 2019, respectively.

 

 

INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2021 AND 2020, AND FOR THE YEARS ENDED

DECEMBER 31, 2021, 2020 AND 2019

 

The estimated software amortization expense for the years ending December 31 are as follows:

 

     
Year ending December 31, (in millions)    
2022  $15.7 
2023   11.2 
2024   4.9 
2025   3.0 
2026   0.8 
Thereafter    
Total  $35.6