XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.24.3

GOODWILL AND ACQUIRED INTANGIBLES | 9 Months Ended
--- | ---
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND ACQUIRED INTANGIBLES | GOODWILL AND ACQUIRED INTANGIBLES Goodwill The changes in the carrying amount of goodwill during the nine months ended September 30, 2024 were as follows:
| Gross Carrying Amount
| (In thousands)
Balance as of December 31, 2023 | $ | 1,535,845 |
Goodwill resulting from acquisitions | 898,053 |
Effect of foreign currency translation | 59,569 |
Balance as of September 30, 2024 | $ | 2,493,467 |
Acquired Intangibles, Net Acquired intangibles as of September 30, 2024 were as follows:
| Gross Carrying Amount |  | Accumulated Amortization |  | Acquired Intangibles, Net
| (In thousands)
Existing technology | $ | 483,634 |  |  | $ | (182,912) |  |  | $ | 300,722 |
Agreements and relationships | 409,467 |  |  | (71,290) |  |  | 338,177 |
Tradenames, trademarks and patents | 30,003 |  |  | (6,559) |  |  | 23,444 |
Total acquired intangibles | $ | 923,104 |  |  | $ | (260,761) |  |  | $ | 662,343 |
During the nine months ended September 30, 2024, Cadence completed certain projects previously included in in-process technology and transferred $6.8 million to existing technology. Acquired intangibles as of December 31, 2023 were as follows:
| Gross Carrying Amount |  | Accumulated Amortization |  | Acquired Intangibles, Net
| (In thousands)
Existing technology | $ | 325,710 |  |  | $ | (141,659) |  |  | $ | 184,051 |
Agreements and relationships | 198,259 |  |  | (61,395) |  |  | 136,864 |
Tradenames, trademarks and patents | 13,460 |  |  | (4,332) |  |  | 9,128 |
Total acquired intangibles with definite lives | $ | 537,429 |  |  | $ | (207,386) |  |  | $ | 330,043 |
In-process technology | 6,800 |  |  | — |  |  | 6,800 |
Total acquired intangibles | $ | 544,229 |  |  | $ | (207,386) |  |  | $ | 336,843 |
Amortization expense from existing technology and maintenance agreements is included in cost of product and maintenance. Amortization expense for the three and nine months ended September 30, 2024 and September 30, 2023 by condensed consolidated income statement caption was as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, 2024 |  | September 30, 2023 |  | September 30, 2024 |  | September 30, 2023
| (In thousands)
Cost of product and maintenance | $ | 17,615 |  |  | $ | 10,991 |  |  | $ | 42,451 |  |  | $ | 31,869 |
Amortization of acquired intangibles | 9,148 |  |  | 4,612 |  |  | 21,222 |  |  | 13,181 |
Total amortization of acquired intangibles | $ | 26,763 |  |  | $ | 15,603 |  |  | $ | 63,673 |  |  | $ | 45,050 |
As of September 30, 2024, the estimated amortization expense for intangible assets with definite lives was as follows for the following five fiscal years and thereafter:
| (In thousands)
2024 - remaining period | $ | 27,687 |
2025 | 97,418 |
2026 | 91,795 |
2027 | 88,570 |
2028 | 84,112 |
2029 | 69,404 |
Thereafter | 203,357 |
Total estimated amortization expense | $ | 662,343 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration