Intangible Assets and Liabilities

3 Months Ended

Mar. 31, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets and Liabilities

Intangible Assets and Liabilities

The gross carrying amount and accumulated amortization (accretion) of our intangible assets and liabilities, other than goodwill, were as follows:

	March 31, 2024						December 31, 2023
In thousands	Gross		Accumulated (Amortization) Accretion		Net		Gross		Accumulated (Amortization) Accretion		Net
Intangible Assets
Core-developed technology	$	512,787	$	(498,434)	$	14,353	$	502,010	$	(499,571)	$	2,439
Customer contracts and relationships	328,438		(287,386)		41,052		329,688		(287,653)		42,035
Trademarks and trade names	72,775		(71,130)		1,645		73,461		(71,740)		1,721
Other	12,019		(11,946)		73		12,019		(11,932)		87
Total intangible assets	$	926,019	$	(868,896)	$	57,123	$	917,178	$	(870,896)	$	46,282
Intangible Liabilities
Customer contracts and relationships	$	(23,900)	$	23,900	$	—	$	(23,900)	$	23,900	$	—

A summary of intangible assets and liabilities activity is as follows:

	Three Months Ended March 31,
In thousands	2024		2023
Intangible assets, gross beginning balance	$	917,178	$	905,134
Intangible assets acquired (1)	15,000		—
Effect of change in exchange rates	(6,159)		4,929
Intangible assets, gross ending balance	$	926,019	$	910,063
Intangible liabilities, gross beginning balance	$	(23,900)	$	(23,900)
Effect of change in exchange rates	—		—
Intangible liabilities, gross ending balance	$	(23,900)	$	(23,900)

(1) On March 1, 2024, we completed the acquisition of 100% of the shares Elpis2, Inc. (Elpis Squared), a privately held software and services company. The purchase resulted in the addition of intangible assets of $15.0 million. Refer to Note 5: Goodwill and Note 17: Business Combination for additional information.

Assumed intangible liabilities reflect the present value of the projected cash outflows for an existing contract where remaining costs were expected to exceed projected revenues.

Estimated future annual amortization is as follows:

Year Ending December 31,	Estimated Annual Amortization
In thousands
2024 (amount remaining at March 31, 2024)	$	12,608
2025	16,161
2026	12,145
2027	7,449
2028	1,993
Thereafter	6,767
Total intangible assets subject to amortization	$	57,123