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Intangible Assets
12 Months Ended
Dec. 31, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets

Note 6 – Intangible Assets

Intangible assets subject to amortization at December 31 were as follows:

 

December 31, 2021

 

Intangible Assets

 

Useful life

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Currency Exchange

 

 

Net

 

Amortized intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Patents

 

5-15 years

 

$

16,040

 

 

$

(15,242

)

 

$

(97

)

 

$

701

 

 Developed product technology

 

2-10 years

 

 

166,819

 

 

 

(100,248

)

 

 

(5,736

)

 

 

60,835

 

 Customer relationships

 

7-12 years

 

 

62,093

 

 

 

(38,760

)

 

 

(1,688

)

 

 

21,645

 

 Software license and other

 

3-4 years

 

 

2,743

 

 

 

(2,677

)

 

 

(61

)

 

 

5

 

 Total amortized intangible assets

 

 

 

 

247,695

 

 

 

(156,927

)

 

 

(7,582

)

 

 

83,186

 

Intangible assets with indefinite lives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In process research and development

 

Indefinite

 

 

2,061

 

 

 

-

 

 

 

-

 

 

 

2,061

 

Trademarks and trade names

 

Indefinite

 

 

10,303

 

 

 

-

 

 

 

(1,000

)

 

 

9,303

 

 Total Intangible assets with indefinite lives

 

 

 

 

12,364

 

 

 

-

 

 

 

(1,000

)

 

 

11,364

 

Total intangible assets

 

 

 

$

260,059

 

 

$

(156,927

)

 

$

(8,582

)

 

$

94,550

 

 

December 31, 2020

 

Intangible Assets

 

Useful life

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Currency Exchange

 

 

Net

 

Amortized intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

5-15 years

 

$

13,040

 

 

$

(11,409

)

 

$

(139

)

 

$

1,492

 

Developed product technology

 

2-10 years

 

 

164,300

 

 

 

(89,027

)

 

 

(5,891

)

 

 

69,382

 

Customer relationships

 

7-12 years

 

 

62,093

 

 

 

(34,597

)

 

 

(1,688

)

 

 

25,808

 

Software license and other

 

3-4 years

 

 

5,743

 

 

 

(5,677

)

 

 

(63

)

 

 

3

 

 Total amortized intangible assets

 

 

 

 

245,176

 

 

 

(140,710

)

 

 

(7,781

)

 

 

96,685

 

Intangible assets with indefinite lives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In process research and development

 

Indefinite

 

 

4,580

 

 

 

-

 

 

 

-

 

 

 

4,580

 

Trademarks and trade names

 

Indefinite

 

 

10,303

 

 

 

-

 

 

 

(977

)

 

 

9,326

 

 Total Intangible assets with indefinite lives

 

 

 

 

14,883

 

 

 

-

 

 

 

(977

)

 

 

13,906

 

Total intangible assets

 

 

 

$

260,059

 

 

$

(140,710

)

 

$

(8,758

)

 

$

110,591

 

Amortization expense related to intangible assets subject to amortization was $16.2 million, $16.3 million and $18.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. In process research and development is transferred to amortized intangible assets at the time the product becomes viable.

The weighted amortization period for intangible assets subject to amortization is 9.9 years. The schedule below sets future amortization expense of our currently owned intangible assets:

 

2022

 

$

15,531

 

2023

 

 

14,976

 

2024

 

 

14,616

 

2025

 

 

13,618

 

2026

 

 

12,055

 

2027 and thereafter

 

 

12,390

 

Total

 

$

83,186