Summary of Intangible Assets |
Intangible assets consisted of the following:
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As of September 30, 2024 |
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As of December 31, 2023 |
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(In thousands) |
Weighted Average Useful Life (in years) |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Book Value |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Book Value |
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Developed technology |
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8.5 |
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$ |
332,245 |
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$ |
(91,210 |
) |
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$ |
241,035 |
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$ |
329,369 |
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$ |
(61,271 |
) |
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$ |
268,098 |
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Customer relationships |
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10.9 |
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$ |
54,016 |
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$ |
(18,461 |
) |
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$ |
35,555 |
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$ |
54,856 |
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$ |
(15,943 |
) |
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$ |
38,913 |
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Trade names |
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3.0 |
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29,955 |
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(24,993 |
) |
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4,962 |
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29,689 |
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(16,379 |
) |
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13,310 |
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Backlog |
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1.6 |
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57,905 |
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(55,133 |
) |
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2,772 |
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57,391 |
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(52,022 |
) |
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5,369 |
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Licensed technology |
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9.0 |
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|
5,900 |
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(4,288 |
) |
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1,612 |
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5,900 |
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(3,797 |
) |
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2,103 |
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Licensing agreements |
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8.5 |
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|
560 |
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(398 |
) |
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162 |
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560 |
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(368 |
) |
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|
192 |
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Patents |
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7.3 |
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— |
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— |
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— |
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500 |
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(500 |
) |
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— |
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Total |
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$ |
480,581 |
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$ |
(194,483 |
) |
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$ |
286,098 |
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$ |
478,265 |
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$ |
(150,280 |
) |
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$ |
327,985 |
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Estimated Future Amortization Expense Related to Intangible Assets |
Estimated future amortization expense of intangible assets is as follows:
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As of |
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(In thousands) |
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September 30, 2024 |
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2024 |
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$ |
14,905 |
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2025 |
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47,737 |
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2026 |
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44,408 |
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2027 |
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|
43,018 |
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2028 |
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|
42,870 |
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Thereafter |
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|
93,160 |
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Total |
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$ |
286,098 |
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