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Intangible Assets, Net
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

NOTE 7 – INTANGIBLE ASSETS, NET

Identified intangible assets consisted of the following (in thousands):

 

 

 

June 30, 2024

 

 

 

Average Life
(Years)

 

Gross Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

Acquired patents

 

3-10

 

$

17,281

 

 

$

(4,583

)

 

$

12,698

 

Existing technology / content database

 

5-10

 

 

219,908

 

 

 

(187,891

)

 

 

32,017

 

Customer contracts and related relationships

 

3-9

 

 

493,579

 

 

 

(377,146

)

 

 

116,433

 

Trademarks/trade name

 

4-10

 

 

39,313

 

 

 

(36,963

)

 

 

2,350

 

Non-compete agreements

 

1-2

 

 

3,101

 

 

 

(3,101

)

 

 

—

 

Total finite-lived intangible assets

 

 

 

 

773,182

 

 

 

(609,684

)

 

 

163,498

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

TiVo tradename/trademarks

 

N/A

 

 

21,400

 

 

 

—

 

 

 

21,400

 

Total intangible assets

 

 

 

$

794,582

 

 

$

(609,684

)

 

$

184,898

 

 

 

 

 

December 31, 2023

 

 

 

Average Life
(Years)

 

Gross Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

Acquired patents

 

3-10

 

$

17,281

 

 

$

(3,478

)

 

$

13,803

 

Existing technology / content database

 

5-10

 

 

219,717

 

 

 

(181,713

)

 

 

38,004

 

Customer contracts and related relationships

 

3-9

 

 

493,685

 

 

 

(365,074

)

 

 

128,611

 

Trademarks/trade name

 

4-10

 

 

39,313

 

 

 

(34,453

)

 

 

4,860

 

Non-compete agreements

 

1-2

 

 

3,101

 

 

 

(2,884

)

 

 

217

 

Total finite-lived intangible assets

 

 

 

 

773,097

 

 

 

(587,602

)

 

 

185,495

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

TiVo tradename/trademarks

 

N/A

 

 

21,400

 

 

 

—

 

 

 

21,400

 

Total intangible assets (1)

 

 

 

$

794,497

 

 

$

(587,602

)

 

$

206,895

 
(1)
Total intangible assets excluded certain finite-lived intangible assets with a gross amount of $35.2 million, which were fully amortized and classified as held for sale as of December 31, 2023 in connection with the Divestiture (as described in Note 6—Divestiture).

As of June 30, 2024, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands):

 

Year Ending December 31:

 

Amounts

 

2024 (remaining 6 months)

 

$

21,291

 

2025

 

 

34,826

 

2026

 

 

31,495

 

2027

 

 

30,652

 

2028

 

 

30,315

 

Thereafter

 

 

14,919

 

Total future amortization

 

$

163,498