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Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2020

Intangible Assets and Goodwill

Intangible Assets and Goodwill

Note 8. Intangible Assets and Goodwill

Intangible Assets, Net

The components of intangible assets were as follows (in thousands, except for useful life):

Balance at December 31, 2020

Balance at December 31, 2019

Weighted-

Gross

Net

Gross

Net

Average Useful

Carrying

Accumulated

Carrying

Accumulated

Carrying

Lives (Years)

Amount

Amortization

Amount

Amortization

Amount

Finite-lived intangible assets:

Licensed IP

12.5

271,000

98,709

172,291

271,000

77,172

193,828

Amortization expense was $21.5 million for the years ended December 31, 2020, 2019 and 2018 and is recorded in cost of product revenues on the consolidated statement of operations. Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets will be as follows for the years ending December 31 (in thousands):


		2021		2022		2023		2024		2025		Thereafter
Amortization expense	$	21,536	$	21,536	$	21,536	$	21,536	$	21,536	$	64,611

Goodwill

There were no changes to the carrying amount of goodwill for the years ended December 31, 2020 and 2019.